Gold vs US Dollar

Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.

Get Started

Zambezi Nickel Investors - ZNI

Share Name	Share Symbol	Market	Stock Type
Zambezi Nickel	ZNI	London	Ordinary Share

	Price Change	Price Change %	Share Price	Last Trade
	0.00	0.00%	6.40	01:00:00

Open Price	Low Price	High Price	Close Price	Previous Close
			6.40	6.40

more quote information »

Top Investor Posts

Top Posts
Posted at 26/10/2007 07:16 by amazon_woman Lithic Metals&Energy Proposed Acquisition RNS Number:4006G Lithic Metals and Energy Limited 26 October 2007 26 October 2007 Lithic Metals and Energy ("Lithic" or the "Company") Proposed Acquisition of Mineral Assets in Togo * Proposed acquisition of RRCC Limited ("RRCC") for #1 million * RRCC, through its wholly owned subsidiary, owns a 90% interest in 19 granted mineral exploration licences in Togo * Licences cover known nickel, copper, chromite, zinc and uranium mineralisation Lithic Metals and Energy (AIM: LMY), the AIM-quoted African nickel and uranium exploration and development company, today announces the signing of a purchase and acquisition agreement made between (i) Lithic; (ii) Stephen Dattels; (iii) Michael Beck; (iv) Chiropo Company S.A.; (v) Angstrom Capital Limited; (vi) George Roach; (vii) Bruce Cumming; (viii) J Stalker Discretionary Settlement; (xi) RRCC Limited and (x) Regent Resources Capital Corporation S.A.U., to acquire the entire issued share capital of RRCC (the "Purchase and Acquisition Agreement"). The consideration set out under the Purchase and Acquisition Agreement is #1 million, which is to be satisfied by the issue of 15,384,615 ordinary shares of 1p each in the share capital of Lithic at a price of 6.5p per share (being the average share price of the Company over the previous 30 days) (the "Consideration Shares") and a further cash payment of US$375,000, paid in quarterly instalments. The Purchase and Acquisition Agreement is subject to standard conditions precedent which include the successful completion of due diligence, the hand over of key documents and the final approval of the Company's Board of Directors and, as set out below, a further announcement will be made in due course when those conditions are satisfied. RRCC, through its wholly owned subsidiary, owns 90% of 19 granted mineral exploration licences in Togo (the government of Togo holding the balance), which comprise the following projects: Haito Project * Nickel mineralisation identified in test pits, soils and rock chips to 4% Ni over a large ophiolite complex. * Nickel values >1% Ni in soil sampling over 1.5km(2) area in an anomaly that increases in grade and is open to the North. * Nickel values >1% Ni over 2km(2) area in test pitting of a separate area to that soil sampled. * Chromite grading up to 43% historically mined from one of numerous outcropping occurrences. * Substantial exploration potential for nickel saprolite and laterite style deposits plus chromite resources. * Most of the prospective ophiolite remains untested. * Platinum exploration potential recognised. Pagala Project * Known SEDEX Zinc (Zn) deposit previously explored by Anglo American. * Substantial, wide-spaced, historical drilling targeted geophysical anomalies generated by multiple ground and airborne surveys. * Drill intercepts include 6m @ 11.37% Zinc from 16m, with grades up to 28% Zn. * Walk-up drill targets with future exploration aiming to complete sufficient drilling to define a JORC compliant resource. * Lithic believe there is potential exploration upside to delineate additional zinc resources. Niamtougou - Kara Project * Historical exploration identified pitchblende and uranophane uranium mineralisation over a number of prospects in drilling and trenching. * Uranium grades to 1500ppm (0.15%) U3O8 in drilling and trenching. * As far as Lithic is aware, no modern exploration has been conducted on the project area. * Licences cover a major regional structural feature that is believed to control uranium mineralisation and which remains largely unexplored. * Lithic believe there is potential exploration upside to convert drilled uranium occurrences into JORC compliant Resources. * Lithic believe the region is highly prospective for uranium. Background RRCC, a British Virgin Isles registered company owns a 90% interest in 19 granted exploration licences in Togo, West Africa, through its local 100%-owned subsidiary Regent Resources Capital Corporation S.A.U. The three key shareholders of RRCC (being Chiropo Company S.A, Angstrom Capital Ltd and George Roach) currently collectively hold 20,000,001 ordinary shares of 1p each (" Ordinary Shares") in Lithic (being 26% of the issued share capital of Lithic). Following the completion of the Purchase and Acquisition Agreement, these three shareholders would each receive 4,000,000 Ordinary Shares as part of the issue of the Consideration Shares. These three key shareholders would then collectively hold 32,000,001 Ordinary Shares in Lithic (being approximately 35% of the then issued share capital in Lithic). The 19 exploration licences cover known nickel, copper, chromite, zinc and uranium mineralisation. At this stage, these projects are at an early stage and accordingly there are no profits associated with the assets. The book value of the assets is #375,000. Commenting today on the proposed acquisition, Lithic Managing Director, Jim Kerr, said "The execution of the Purchase and Acquisition Agreement is a significant step forward for Lithic, which should bring to the Company an exciting suite of exploration assets, all with known mineralisation. Several factors attracted us to the Togo assets: known economic grades of nickel, copper, chromite, zinc and uranium over wide areas; a lack of modern exploration which creates potential advantages for companies with available resources if they access the sites early - particularly with respect to making further mineral deposit discoveries; exceptional regional infrastructure in the form of sealed roads, rail and port facilities and a positive outlook towards foreign investors following last week's successful general election." About Togo Togo is a Francophone West African nation bordered by Ghana to the west, Benin to the East and Burkina Faso to the North. The nation is a regional commercial and transport hub, with deep water port facilities serviced by rail and a sealed highway running the length of the country. The capital city of Lome is serviced by regular flights to Europe and other African countries. The Togolese economy relies on the production of cotton, coffee and cocoa, with the mining of phosphates making up the most significant element of the natural resources sector of the economy. In recent years, Togo has strived to normalise relations with its neighbours and the EU. Sanctions were imposed on Togo after human rights violations occurred in the last years before the death of former President Eyadema Gnassingbe in 2005 (after 38 years in power). Since 2005 under President Farue Gnassingbe, the country has focused on stabilising the nation and setting foundations for fair, open and democratic elections, a process which culminated in the successful general elections held last week. The success of the recent general elections paves the way for the normalisation of Togo's international relationships and creates a more positive investment climate that already offers economic advantages to companies looking to operate in the country. Summary Completion of the Purchase and Acquisition Agreement should occur in approximately one month's time, with exploration activities commencing immediately thereafter, at which time a further announcement will be made. At the same time as that announcement, application with be made for the Consideration Shares to be admitted to trading on AIM. The directors of the Company consider, having consulted with the Company's nominated adviser, WH Ireland Limited, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned. For further information, please contact: Lithic Metals and Energy Jim Kerr Telephone: +61 8 9216 9000 WH Ireland David Youngman Telephone: 0161 832 2174 Conduit PR Jos Simson/Jane Stacey Telephone: 0207 429 6603 This information is provided by RNS The company news service from the London Stock Exchange END MSCMABRTMMMTBPR Read Full Thread Reply
Posted at 22/5/2007 22:10 by tippingpoint They need to spend $5mn over 2.5 years to get the 51% holding and can increase to 75% or above subject to additional conditions. They will need to raise additional cash I would guess around the end of 2008 (like the vast majority of explorers out there). If this was valued at Enterprise Value £10mn, it would not have the same kind of investment advantage). But it's lost, unloved and until yesterday evening struggling to make headway. The irony is that with the new management they were starting to rebuild nicely, but very short of cash. In the space of one day they have now become a joint Uranium and Nickel explorer with some decent prospects, fully funded for the medium term and with supportive investors. I am quite enthused as you can tell, but please DYOR etc it's all IMHO BTW: shares in issue 75mn held by ZRL 37mn other placing shares 20mn (I assume these have gone to an institutional or other long term holder as above mid price placement) other inst holdings (as per results and not sold down) 7mn approx free float estimated at 11mn shares 13% - these could be in short supply going forward Read Full Thread Reply
Posted at 01/11/2005 07:58 by currypasty Feature Story Date: November 01, 2005 Zambezi Nickel Spun-Off By Zambezi Resources To Focus on Nickel in Zambia Trading on AIM has started today in Zambezi Nickel the spin-off from Zambezi Resources which listed in July 2004. Zambezi Resources already has more than 10 copper and gold projects so it is debatable whether any real value is given to its nickel projects which are in the south of Zambia near the border with Zimbabwe. This move gives new investors a chance to invest in a pure nickel play, with Zambezi Resources retaining a 49.6 per cent holding. The annoying thing for management at the time of listing is that while gold and copper have both remained strong, the nickel price has been heading south. On the London Metal Exchange, nickel has slipped from US$7.50 a pound a few months ago, to around US$5.50/lb. The fall in the metal price is not welcomed by any producer, but the positive aspect is that nickel price is still well above its long-term average. Paul Rankine, the CEO of Zambezi Nickel, will be able to take a view from both sides as he has been a mining analyst and a metals and mining industry consultant as well as a mining engineer at a senior level with both Gold Fields of South Africa and De Beers. He points out that the volatility of nickel seems a bit overdone compared with other metals, which smacks of hedge traders paying their little games in the metal. Talk to producers such as Michael Kiernan of Consolidated Minerals and he still sees consistent demand from Chinese steel producers even if, as he puts it, "They try to screw you through the floor on price." Nevertheless he forecast increased nickel exploration in the Kambalda area at the AGM last week, and that has to be taken as an encouraging sign. The other point to bear in mind about Zambezi Nickel is that both its projects are some way away from production so the current price of nickel is largely academic until work starts on a bankable feasibility study at either of them. The Mitaba project consists of two prospects, Mitaba Hill and Mitaba West and to the east of them is the Paulwi prospect. Mitaba Hill was previously explored trenched and drilled by Zamanglo in the 1960s, but very little exploration has ever taken place at Mitaba West. Sampling results from trenches at Mitaba Hill reveal numerous wide intervals in only mildly weathered target channel features with grades of 1.23% nickel over 88..4 metres and 1.77% nickel over 53.3 metres. Similar trenches at Mitaba West assayed 0.71% nickel over 52.4 metres and 0.76% nickel over 50.3 metres. The fact that platinum group elements were detected in surface specimens containing the highest nickel lend credence to the fact that disseminated sulphides should be found at depth. It is disseminated sulphides that Zambezi Nickel is after at Mitaba, of sufficient size and grade to support an open cut mine similar to the operation at Mt Keith in Australia where 11 million tonnes of ore is mined/year. Drill targets have already been defined and the company will drill these next year in order to come up with an initial resource estimate to JORC specifications. In the meantime aeromagnetics and VTEM will be flown over both projects. Paulwi was explored by Zamanglo at the same time, but here the geology is different with strong potential for massive nickel sulphides like Albidon's Munali project which has a JORC resource of 55,500 tonnes of contained nickel. In the first quarter of 2006 Zambezi Nickel will be generating massive nickel sulphide targets from the data received and these will be drilled later that year. Investors will be encouraged to read in the prospectus that 'results of historic work at both Mitaba and Paulwi, especially the convincing evidence of sulphur saturation and the identification, already, of targets for disseminated, pittable sulphides at Mitaba and for high grade massive sulphides along the basal contact at Paulwi, all combine to indicate a positive outome from the proposed exploration programme.' Hot on the trail, would be a fair description and the development strategy envisages raising additional funds for a bankable feasibility study this time next year. This is a company in a hurry and its directors have the skill sets and experience necessary to fast track nickel production. By the same token the company is in a strong position to acquire non-core nickel assets in the region from other players and drive them forward in the same way. Zambezi Nickel has hit the ground running as it is already operating in the area and will spend most of the gross £1.6 million raised at the time of the listing in the ground as it can share central expenses with its parent. Should be some interesting news before long. Read Full Thread Reply

Delayed Upgrade Clock

Support: +44 (0) 203 8794 460 | support@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions