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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Zambezi Res | ZRL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 1.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.25 |
| Top Posts |
|---|
Posted at 11/3/2009 07:16 by tartan_penguin2 Good news. Trading to resume soon.RNS Number : 5932O Zambezi Resources Ltd 10 March 2009 10 March 2009 Zambezi Resources Limited Results of EGM Zambezi Resources Limited ("Zambezi" or the "Company") (AIM: ZRL; ASX: ZRL) today announces all resolutions were duly passed at its Extraordinary General Meeting ("EGM") held on 9 March 2009 in Bermuda. The resolutions put to the shareholders at the EGM were to approve the Share Subscription Agreement and Convertible Note Agreement that the Company entered into with Astron Limited ("Astron") as announced on 28 January 2009. Further to the above shareholder approval the board has resolved that, once the subscription monies from Astron have cleared, to issue and allot the 171 million shares to Astron and to apply for these ordinary shares to be admitted to trading on AIM. A further announcement will be made in relation to this in due course. Shareholders have also approved the issue of the unsecured convertible note to Astron at a face value of $6 million (the "Note"). Astron has an absolute discretion to elect to subscribe for the Note, to be exercised within three months after Zambezi shareholder approval. A further announcement will be made in relation to the convertible note in due course. The board of Zambezi believes that the Transaction will secure necessary funding for the foreseeable future and at the same time provides the Company with a strategic investor. Astron is listed on the ASX and located in Sydney, Australia, but also has a strong presence in China with an office in Shenyang. Astron's interest in Zambezi is principally as a strategic opportunity to ultimately supply copper from Zambia into China leveraging off Zambezi's copper/gold projects and facilitating Zambezi's entry into Chinese markets. The transaction will ensure the survival of the Company and add longevity to its existing projects. The Company's shares were suspended from trading on ASX on 31 October 2008 and AIM on 3 November 2008 pending clarification of the Company's financial position. A further announcement in relation to the restoration of trading will be made in due course. |
Posted at 31/10/2008 18:55 by stu31 stu31 - 1 Apr'08 - 00:19 - 199 of 365 editcheck the last accounts..see how much cash they are burning and how much they have left.. scotswhaehae - 1 Apr'08 - 11:10 - 200 of 365 indeed stu31... seriously affected by the credit crunch/investor general fears I expect. shame as on (well funded) fundamentals this looks a good company. with no cash injection would you agree that it looks like it runs out of cash in the next quarter according to last announced exploration expenditure rates? no doubt another placing can be arranged though...will be interesting to see at what price. stu31 - 1 Apr'08 - 15:42 - 202 of 365 edit I estimate they have about 1 month of cash left scots if past spend is anything to go by..undoubtedly they are trying to get a funding away in the city right now and are struggling imo..their cash burn looks excessive for a small cap explorer, particularly the admin expenses..£4m per year? That has to be something of a record in their peer group imo ramnik007 - 2 Apr'08 - 07:14 - 203 of 365 The burn rate this drill season is likely to be substantially lower as mgt plan to be drilling only with partner(s) money. According to mgt they have adequate cash till next year. Apparently Rio Tinto will be making a decision on drilling in the coming months, with comittment of decent cash. umair - 2 Apr'08 - 10:03 - 204 of 365 From January's cashflow statement it would seem that they have about GBP 6.5M available at the end of the last quarter with plans to spend GBP 1M this quarter. So cashflow shouldn't be a problem. This is not posted to 'gloat' but as a warning. They lasted a few months more than I thought but this is the first of many AIM explorers to go under. This one was always absurd because their spend was ridiculous. But I still see across these boards people buying into these type of companies thinking they are somehow 'cheap'. Beggars belief. |
Posted at 18/6/2008 11:04 by 1waving Posted On: Tuesday, June 17, 2008, 4:43:00 PM ESTThe Day The Juniors Fight Back Author: Jim Sinclair Dear CIGAs, I respectfully request that each member of the JSMineset community send this missive to the management of their precious and base metals junior investment company. Please follow up on it to be sure it has been reviewed. Strength In Numbers The junior producer and exploration and development companies need to consider the formation of a Chamber of Mines for this section of the industry. This Chamber should be free of any individual company agenda, free of fees and other interferences with the singular intention of protecting our shareholders from being attacked by those in the shadowy part of finance. There are close to 2000 companies in this part of the industry, many of which are experiencing the same extreme nuisances. The naked gold short seller is an entity engaged in a criminal act with a goal of doing serious injury for the purpose of profit and is therefore a major target in terms of civil liability. The short and naked short pool operations are exactly the same but more apt to be a conspiracy to injure slightly then become subject to RICO statutes. The job of this working Chamber of Mines as a singular unit is to pull these criminals out of the shadows into the light of day. No matter how well they feel they are hidden there is always a paper trail going back to the perpetrator in this financial world. Certain financial areas of secrecy in many cases do not protect the spoils of criminal activities. This may be proven soon at UBS where an officer is under arrest in the USA and is due to go to court shortly. It does not mean anything that neither regulators nor exchanges care about the naked short or short selling pools, regardless of whether they are naked or not. If the stockholders and the company who's values have been injured initiate civil proceedings, discovery will be full of legal opportunity. You cannot erase the paper trail that exists to every transaction. My request is simple: Contact the management of every junior precious metals producer, exploration and developer, asking them to contact Editor Dan at information@jsminese There is no hidden agenda, no money to be collected, and no desire to stroke egos and no desire for private corporate information. I do not wish to be anything but a member. Let the organization elect its officers so we can act as one. We can speak as one. We can win as one, but we are weak when scattered as the industry is now. Organize and we are a legion. Expose the perpetrators and then it is all over. The data is there. It can be organized and it can be dissected, yielding the evidence trail of those who wish to hurt, sometime simply because they are mean, sometimes for illicit profits. Add to that that sociopaths mistreat their associates and employees by nature. No looking may be required. It might just happen to come over the transom, even though we do not invite that. You stockholders must push your management hard. Personally there is nothing that I will NOT do in order to protect both my and my investors' interests. I herewith dedicate my life, my fortune and all that I am to the identification of the perpetrators and their conduits used. Those sociopaths that take joy by inflicting severe injury for profit by conspiracy and the use of dirty tricks must be the hunted of nearly 2000 company's determined managements and their more than 500,000 very angry stockholders. There is only one way to defend stockholders, which is through the organization and strategy of a major offensive. Forget attorneys at this point. Regulators are of no help. A Chamber of Mines acting together can prevail. I will even if I must go it alone. Together we are legion. Alone and looking the other way you are a victim. I have never been a victim. No one depending on me will be a victim. There is NOTHING I will not do to protect those that depend on me. I am livid. Enough is enough. We will add risk to the bad guys. That proposition you and they can depend on. Your friend, Jim Sinclair |
Posted at 06/6/2008 17:31 by umair Given recent news maybe they were busy briefing investors and funds. |
Posted at 30/4/2008 15:15 by grimbo Cashflow is not unreasonable, grades look great. This has just been slipping on no news and investors getting bored. I also bought back in yesterday. Excellent value. |
Posted at 01/4/2008 12:10 by scotswhaehae indeed stu31...seriously affected by the credit crunch/investor general fears I expect. shame as on (well funded) fundamentals this looks a good company. with no cash injection would you agree that it looks like it runs out of cash in the next quarter according to last announced exploration expenditure rates? no doubt another placing can be arranged though...will be interesting to see at what price. |
Posted at 18/9/2007 07:38 by ramnik007 Now its two major investors in its exploration territory. Rio must have seen the huge potential that has been talked about by management. Excellent news and should underpin the share price in the current mkt turmoil. |
Posted at 16/6/2007 21:33 by ramnik007 Hopefully the current share price move will put ZRL on uk private investors' radar and recognise the huge potential ZRL has to continue adding value. The exploration territory ZRL has in Zambia is rich in numerous metals. The challenge for mgt will be to focus on the mega projects which global commodities companies would want their hands on. By the end of this year ZRL will have substantial drill data to validate the exploration team's hypothesis of substantial level of mineralisation based on both VTEM surveys and trenching. Also, Aussie analysts, who appear to better understand how to value exploration companies, in my opinion, will start to research and recommend ZRL. The Aussie IPO mkt is currently extremely bullish for junior exploration companies. The timing of ZRL listing on the ASX is looking extremely good. It is no wonder the Offer was closed within 2 days. Exciting times ahead in the coming weeks. The question is how much will the Aussie institutions and private investors chase these shares. With the current bullish mkt, hoping 50p could be a reality. But as always do your own research and reach your own conclusion. |
Posted at 15/6/2007 18:16 by devpatel i am not sure if this has been posted yet...OVERSUBSCRIBED THREEFOLD Australian investors swamp Zambezi's ASX dual listing IPO An Australian-driven AIM board company with big targets in Zambia appears to be threefold oversubscribed in its quest to help Australianise the company. Author: Ross Louthean Posted: Friday , 15 Jun 2007 PERTH - A prospectus to raise $A15 million (£6.37 M) for Zambezi Resources Ltd to dual list on the Australian Stock Exchange has virtually closed on opening after two Australian stockbrokers and a resource banker were rapidly put into a heavy oversubscription mode. The dual listing for AIM Board listed Zambezi provides the opportunity for Australian investors to gain almost a 17% stake in the company which has a major focus on iron oxide copper gold (IOCG) deposits in Zambia as well as distinctive copper and gold targets and polymetallic prospects with uranium potential. When the Australian funds can be added to Zambezi's coffers the company will have cash reserves of $A45 million (£19.123 M) plus a flow of $A20 M (£8.49 M) from joint venture commitments from metals house Glencore AG. In the coming fiscal year Zambezi will have an aggressive drilling programme in Zambia, planning to drill about 100,000 metres utilising eight drill rigs, of which five are already operating on company leases. Managing director Julian Ford told Mineweb that the company was now one of the most active explorers in Africa, with a team that includes 28 geologists. One of the most advanced is Cheowa in the southern sector of the Lusaka East Group near the Zimbabwe border where a small part of a 15 kilometre long system has provided a JORC Code resource of 1.7 million tonnes grading 1.5% copper and 0.5 grams/tonne gold. Glencore can earn a 51% stake by spending $US10 M on exploration and, if elected by Zambezi, can earn a further 19% by spending $US10 M or completing a bankable feasibility study. A preliminary feasibility is expected by mid 2008 and Ford said that given positive results a bankable feasibility may be completed by the end of that year. The target could be to build up to a reserve of between 8-12 Mt at between 1-2% copper and 0.5 g/t gold, however, if there was significant depth and lateral extension then the objective would be to prove up a contained 500,000t of copper metal and 500,000 oz gold. The 100% owned Kangaluwi block takes in distinctive gold (Moiya and Chakwenga) and distinctive copper projects (including Kangaluwi, Kalulu and Chisawa) and first phase drilling at Kangaluwi has given significant copper intercepts including 21m @ 1.88% and another hole with 3m @ 0.59% followed by 25m @ 1.34% Cu. The Oryx prospect, in which another AIM-listed company Zambezi Nickel Ltd is earning 51%, takes in an airborne radiometric geophysical anomaly in which hydrothermal uranium has been detected. Zambezi Resources holds a 35.3% interest in Zambezi Nickel, and Ford said his company would consider at some stage an in specie distribution of the Zambezi Nickel stake (a company likely to change its name to reflect a change in its metal priorities course). However, Zambezi Resources would retain its equity in Oryx and other joint ventured Zambian properties. Another major project is Chipata near the Malawi border and adjoining blocks that also go into Mozambique. The company sais two gold camps - Madzimoyo and Cymric - have been demonstrated in the Chipata tenements. Artisanal miners operated in this region until recently and the last full scale mining finished in the 1940s. Ford said the relationship with Glencore may prove invaluable as it was the big investor in the new Isasmelt plant at Mopani Copper Mines' Mufulira smelter. Another investor in this smelter is another West Perth-based but Canadian listed Zambian copper miner First Quantum. |
Posted at 14/6/2007 11:58 by ramnik007 As per usual, private investors in UK not too interested. Hope the private investors in Aussi land take a different view of ZRL's potential. Exploration stocks with significantly less projects, exploration territory and progres than ZRL have had mkt caps race away on the ASX. I'm informed that the Aussie mkt is the most bullish for exploration companies. Fingers crossed for ZRL on 19th June. |
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