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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Zanaga Iron Ore Company Limited | ZIOC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 7.51 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 7.51 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 15/2/2024 13:32 by greenelf What is the current value of the strictly defined reserve of 1.9 billion tonnes of iron ore, I make it around 2.5 pence per tonne. And we expect a strategic investor to come on board by end March..I suspect they will value it more lol |
Posted at 16/1/2024 16:28 by runnerpete22 Again, courtesy of alwayshoping over on LSE.Much the same as above BUT........ NAI, DYOR etc etc. A little more meat on the bones re next months meeting. I must admit the final sentence sounds really interesting/teasing. as usual...alwayshoping PIF’s Private Sector Forum takes place next February Riyadh - Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) is set to host the second edition of the Private Sector Forum on 6 February in Riyadh, with the participation of 50 PIF portfolio companies. The two-day forum aims to support the fund’s Private Sector Engagement Strategic Initiative. It will showcase the business opportunities of the PIF and its portfolio companies, highlight potential opportunities for investors and suppliers, and broaden the means of cooperation. The forum aims to promote and strengthen localization and support the development of stable supply chains in major sectors. The PIF Private Sector Forum will feature panel discussions by leaders across key government entities, PIF, and its portfolio companies, highlighting the importance of the private sector for the Kingdom’s development. Furthermore, it will include workshops on specific localization investments and supply chain opportunities, providing visibility on the expected demand for key products and services. Several partnerships between the private sector and PIF and its portfolio companies are expected to be concluded and announced during the forum. hxxps://www.decypha. |
Posted at 31/12/2023 12:14 by extrader And to Minor Miner for thisMarket News: Zanaga Iron Ore surges 20% as Congo hydro-power agreement signed. Mark Rogers, December 28, 2023 ZANAGA SHARES HAVE NOW DOUBLED IN 2023 AS EXCITEMENT BUILDS AROUND THE PROJECT. Zanaga Iron Ore Company Shares in Zanaga Iron Ore Company (LSE: ZIOC) jumped over 20% on Thursday morning after the firm revealed it has penned a landmark clean energy agreement with China Machinery Engineering Corp. The iron ore explorer, focused on the Republic of Congo, signed a memorandum of understanding with CMEC to advance engineering and funding plans for new hydroelectric facilities close to Zanaga’s namesake project. Zanaga said CMEC will now complete further inspections and studies on the proposed hydro sites near Zanaga before drafting proposals on how the dams will be financed between Congo’s government and third parties. The AIM-listed miner also updated investors that a feasibility study with an unnamed Chinese partner is progressing well and has already identified chances to reduce costs versus previous plans. ZANAGA SHARES HAVE NOW DOUBLED IN 2023 AS EXCITEMENT BUILDS AROUND THE PROJECT. hxxps://www.investom NAI, DYOR etc etc |
Posted at 28/12/2023 09:13 by greenelf Not fussed at this point (so much more to come), the real resistance is 25p, I think we may need strategic investor funding secured to break through that?? |
Posted at 28/12/2023 09:03 by xcap1 We should now see 'investors' buying for the long term , and yes traders for the short that is inevitable But there is now or should be a sustainable trend change Management must also be focused on accelerating the progress having waited 14 years for this phase of development |
Posted at 28/12/2023 07:17 by greenelf The first MOU signed, with a number more in the pipeline (wink). The fact that all these are progressing in parallel speaks volumes as to the high level coordination and commitment of all parties concerned. None of the proposed MOUs would 'be much' in isolation. The strategic investor must thus be very serious and credible for all the parties to spend time on this. This has a long long way to rise to its inherent value!! This could look very different by the end of Q1 (or maybe even 9 January 2024!). |
Posted at 27/12/2023 00:32 by extrader I'm an investor in the litigation financier Burford Capital (BUR), who only tend to invest in cases that they intend/expect to win . Most recently in a protracted action against Argentina.They're financing Sundance's litigation (handled by Clifford Chance) against Congo and Cameroon for the (alleged) illegal expropriation of the concessions at Mbalam and Nabeba awarded to an obscure Singapore-based entity, Coconut Logic. Here's a very timely update. hxxps://www.sundance And this is analyst comment re BUR : hxxps://moiglobal.co .."If Burford is involved in a case, it generally does not disclose it, but sometimes it does, which sends a powerful signal to the other party. This is how Burford puts it: “We believe that the disclosed presence of Burford in a case should make a defendant think twice about its position as it would then know that a dispassionate, highly skilled, profit-motivated entity had evaluated the plaintiff’s case and concluded that it had real merit.” BUR's biggest investor @ 10.5% shareholding is the AlRajhi family. hxxps://www.arabnews Conclusion : should discourage chancers...and an 'advisory'to any credible investors in Congo mining concessions. HTH and ATB |
Posted at 15/12/2023 11:00 by extrader Top quality post from Jiving elsewhere..."CEO. Marty’s LinkedIn states he was appointed as CEO in November, so he might have been in situ up to 6 weeks already. Noteworthy that the news was released on 14 December & not when it seems to have actually occurred in November. Is Elphick preparing for a week of news, that has been held back as it was before last year's AGM? Board. A new CEO at such a critical time should be immediately be on the BOD. I expect he will be soon, but we might be waiting for a different BOD with at least one representative from the new strategic investor & possibly one less Glencore director. At present the agreement with Glencore as set out in RNS of 23.11.22 is that provided Glen hold 25% or more they get 2 BOD seats; between 10-25% they get 1 seat; under 10% none. If Glen sell part or all of their ZIOC holding to one or more strategic investors their representation may change to reflect their lower %. JV vs Buyout. The appointment of a CEO could indicate that the project is proceeding as a JV & we should not therefore expect a buyout bid - unless perhaps a competing, losing strategic investor should decide to make one. Structure. The Glencore transaction last year concentrated ownership of the Zanaga holding company Jumelles, 100% in ZIOC. It was always possible that strategic investor (s) would take a direct stake in Jumelles - ie an unlisted stake for a fixed price paid to ZIOC based around NPV. Leaving ZIOC with the remainder of Jumelles (a bit like the pre 2022 ZIOC arrangement with Glen). But now it seems possible, even likely, that strategic investors will join the project via ZIOC share transactions - secondary, primary or both. Secondary/Primary. Potentially strategic investors could enter the project via a secondary purchase of all or part of Glencore’s stake. This would be mean all the monies passing to Glencore and not ZIOC & we would suffer no dilution. The BOD at the AGM is seeking authority to issue 20% or 126.6m new primary shares (with no pre-emptive rights) to a shareholder (s). This primary transaction would involve both funds flowing into the company & of course dilution. It is quite possible a strategic investor (s) would undertake both transactions - getting say, a 40% stake via a secondary purchase of 20+% from Glencore and a 20% primary issue from ZIOC. Price. The last 13 months of negotiations & particularly the decision to seek new estimates from the Chinese EPC partner suggests to me there could have been prolonged haggling over terms & particularly pricing with strategic investor (s). An ‘NPV based share price’ for a secondary/primary transaction would be substantially higher than the current share price. The 2019 Presentation (P20 graph) gave the crucial NPV estimates for Stage 1 @ 12m & Stage 1+ 2 @ 30m outputs based on the 2014 FS & a 65% Fe concentrate price at $110. The Stage 1, 12m NPV was just over $2b & the Stage 1+2, 30m NPV was just under $4b. The lower Chinese EPC costings & favourable changes in the iron ore market will have changed those estimates significantly upwards. Of course even if all parties agree on an NPV a strategic investor can still demand a discount to NPV. An NPV based share price. To use very simple approximations (key variables apart from NPV being FX & ZIOC share count). But currently a $1b NPV equates approx to a share price of 125p. So the old range of NPV as above from $2-4b would mean a 250-500p NPV based share price. Optimistically taking a 500p NPV based share price, a primary sale of 126.6m shares would net ZIOC £633m or $808m at todays FX. Gearing. The 2014 estimate of $2.2b was to have been funded by a mixture of equity and debt/project finance. Edison in their research report in 2014 suggested the proportions: “We believe that the overall equity cheque will be US$0.8-1.0bn, with the remaining funds coming in the form of infrastructure and EPCM related debt such as export credit financing. The company expects to source credit finance from multiple jurisdictions on attractive terms that normally pertain to infrastructure backed funding.“ 99 in a post 13.12.23 suggested the equity:debt/project finance might be even more favourable ie needing less equity finance! Quote from 99: "With a Chinese builder you probably will get 70% of the build financed by Chinese banks, then you need someone to put up the remaining 30% in return for shares in the project (The Strategic Partner)" With significantly lower costings expected from the 2023 Chinese EPC it is likely the equity component for Stage 1 @12mtpa would be at or lower than the $800m suggested by Edison. In conclusion, if ZIOC/Glen are able to find a strategic investor (s) willing to pay an NPV based share price of £5 (Zanaga NPV of $4b), the sale of the 20% primary stake would generate sufficient equity capital to finance Stage 1 of the project, the balance coming from debt/project finance....." NAI, DYOR GLA |
Posted at 02/10/2023 20:18 by bbanker At last there seems some prospect of the value of this company being recognised. Nothing has happened for many years and investors have almost given up hope of achieving something from the huge value sitting near the surface of what represents one of the largest sources of iron ore in the region. It seems that life is returning to this company and very long term patient investors will at last be rewarded. Clearly those employees who have been unrewarded for a considerable period recognise that the prospects for the Zanaga project are nearing realisation at last. Well worth holding onto for what could be a very interesting ride. |
Posted at 15/12/2020 11:03 by gta5 Another good article from our friends at Caixing: Aug 25, 2020 06:23 Stalled Guinea Project Highlights China’s Struggle to Reforge Iron Ore Supply Chain By Luo Guoping and Han WeiSimandou, a 110-kilometer range of hills deep in the hinterland of Guinea in Western Africa, boasts the world’s largest untapped iron ore reserves. They could reshape the global supply chain of the critical ingredient of steel, the world’s second-most traded commodity behind crude oil. The rich assets have lured global investors, especially from ore-thirsty China, but pulling the mineral out of the ground has turned out to be a thorny challenge with entangled interests and risks stemming from technical, capital and political uncertainties. It is considered the world’s largest, highest-quality iron ore deposit. Some industry experts project it could produce as much as 150 million tons of iron ore a year, equivalent to 7% of global production in 2019. Developing the deposits could save China, the world’s largest steelmaking country, billions of dollars a year. But building the necessary infrastructure in Guinea, which ranks 160th by per capita GDP of 186 countries according to the International Monetary Fund, would also cost billions of dollars. To make the Simandou project operational would require railway and port construction amounting to the largest infrastructure project ever in Africa. Investors have been reluctant to sink that kind of money into Simandou because of the risk that prices will plunge. The Simandou project has largely stalled over the past two decades, reflecting political complexity, mining rights disputes, concerns over costs and pressures from industry rivals. Discovered in the 1990s, the Simandou deposits hold more than 8.6 billion tons of iron ore with an average content of 65% iron, according to Guinea’s National Institute of Statistics. “The reserve of Simandou is so rich that one can get minerals with a simple shovel,” a mining industry investor said. The Simandou project could maintain a stable 7% share of global iron ore supply in the coming decade if it reached full capacity, giving it the power to influence global pricing, said Andrew Gadd, chief iron ore analyst at British commodity consultancy CRU. It could threaten some high-cost suppliers such as those in Canada, Brazil and South Africa, Gadd said. In Australia, Simandou is known “the Pilbara killer.” Australia, the world’s largest iron ore exporter, produces more than 90% of its ore exports in the western region of Pilbara. Anglo-Australian mining giant Rio Tinto Group is a major stakeholder in the Simandou project since 1997 but has moved slowly to develop the project. Chinese investors are among the main forces pushing the project forward as a new source of iron ore that could bring down prices for China’s steel mills. In 2019, China imported more than 1 billion tons of iron ore, 70% of the global supply and 80% of the country’s total demand. About 80% of China’s iron ore imports come from the four largest mining companies — Brazil’s Vale S.A. and Australia-based Rio Tinto, BHP Group Ltd. and Fortescue Metals Group. In the first seven months this year, China imported 660 million tons of iron ore, up 11.8% from a year ago, official data showed. Demand has rebounded as the domestic outbreak of Covid-19 wanes and the government’s pro-growth, infrastructure push drives up steel consumption. Heavy reliance on foreign supply makes Chinese steelmakers especially vulnerable to iron ore prices. Every $10 increase of the price of a ton of iron ore will lead to an extra $10 billion of spending by China every year, analysts estimate. In 2019, a $30 price rise for a ton of iron ore cost Chinese steel mills an additional $30 billion, more than the 189 billion yuan ($27.4 billion) of net profit posted by the country’s entire steel industry, said Chen Derong, chairman of China Baowu Steel Group Corp. Ltd., China’s largest steel refiner. Despite the pandemic, iron ore prices have continued rising this year, touching a six-year high on Aug. 19 of $128.80 a ton and hovering at $120 since then. “If Simandou starts operation, it could bring a drop of global iron ore prices by $40 to $50 a ton,” a steel industry analyst in China said. Since May, Baowu has been trying to lead a consortium of steelmakers to invest in Simandou and break the development logjam. Baowu plans to set up a $6 billion investment fund consisting of steelmakers and financial investors to develop Simandou, Caixin learned. But the Baowu project is no sure thing. Chinese investors including state-owned aluminum giant Aluminum Corp. of China Ltd. (Chinalco) tapped into the project years ago with little progress to show for it. Chinese companies have a poor track record of investing in foreign mining. The painful example is the Sino iron project in Australia. After Chinese state-owned conglomerate Citic Ltd. paid $450 million for 25 years of mining rights to the iron ore deposit at Cape Preston in 2006, it quickly turned into a money pit because of repeated production delays and skyrocketing investments. Simandou “needs a sophisticated dealmaker to coordinate various parties, to share interests and risks,” a senior energy industry investor said. Without the capability to get all parties to act together and figure out a sustainable business model, the development of Simandou will remain out of reach, the investor said. Long-stalled project Mining rights to Simandou have been split into four blocks, none of which has yet been developed. The first two blocks in the north are owned by SMB-Winning, a consortium backed by Singaporean and Chinese companies, while the No. 3 and 4 blocks in the south are controlled by Rio Tinto and a group of Chinalco-led Chinese investors. The Guinean government holds 15% in each of the two parts. Chinalco and Chinese partners entered Simandou in 2010 by acquiring a 39.5% stake in Simfer, a Rio Tinto unit operating blocks 3 and 4. Chinalco is the largest single shareholder of Rio Tinto with a 10.3% stake. But development of the blocks stalled in following years, leaving huge costs for investors. A company document seen by Caixin showed that Simfer invested more than $3.7 billion in infrastructure and mining facilities in Simandou. In 2015 and 2016, Rio Tinto wrote off nearly $2.3 billion of losses from the project. Simfer staff working on the Simandou project has been slashed to dozens from around 1,000 before 2016. Chinalco and partners paid $1.35 billion for the stake in Simfer. A company financial report showed that Chinalco spent $15.5 billion as of the end of 2019 on Simfer and affiliated companies. Industry analysts said they think Rio Tinto’s slow progress on the Simandou project reflects a strategic decision to focus on cheaper development in Australia, and the company doesn’t want new supply to press down market prices. In reply to a Caixin inquiry, Rio Tinto said Simandou will provide a good supplement to ore supplies from Australia and Canada to meet strong demand for high-quality iron ore from China and other markets. Rio Tinto was the first foreign investor licensed to explore Simandou in 1997. In 2006 the company won 25 years of mining rights for all four blocks with an option to extend. But no sustained work has been done on the sites. In 2008 the Guinean government forced Rio Tinto to relinquish its rights to the northern two blocks to an Israeli company, BSG Resources. But BSG’s purchase of the mining rights was controversial and was voided in 2019 by Guinea’s new government, citing corruption. In November that year, the government relaunched bidding for the two blocks, and SMB-Winning became the winner. SMB-Winning is a venture jointly set up by Singapore-based shipping company Winning International Group, Chinese private aluminum producer Shandong Weiqiao, Yantai Port Group and Guinean-French logistics company UMS. SMB-Winning didn’t disclose how much it paid for the mining rights but pledged to invest $14 billion to develop the two northern blocks. Sources close to the matter said the Guinea government hoped to pressure Rio Tinto into making progress in Simandou by inviting in the new investors. In June, SMB-Winning signed a framework accord with Guinean authorities and agreed on a timetable leading to commercial operations within 74 months after signing. But several industry insiders said they are doubtful of SMB-Winning’s ability to raise enough funds to support the development. Shandong Weiqiao, with the strongest balance sheet among the shareholders, has a debt-to-asset ratio of more than 60%, restricting its capacity to tap new credit, they said. SMB-Winning contacted some Chinese banks for potential loans, but most lenders showed little interest, sources said. Game changer The Simandou project is strategically valuable to China as it would diversify the country’s iron ore supply and give it greater bargaining power in price setting, said Lu Guangming, an analyst at CRU. The four iron ore giants — Vale, Rio Tinto, BHP and Fortescue Metals — accounted for nearly half of 2019 global iron ore production of 2.1 billion tons. They have the major say in settling global prices. Heavily reliant on imports, China has accepted almost every price increase by the four major suppliers since 2003 no matter how the pricing mechanism was changed, analysts said. The country has more than 300 steel mills, but their combined interests in foreign iron ore reserves amounts to only 65 million tons a year, or less than 10% of annual ore imports, according to the Metallurgical Industry Planning and Research Institute. The Simandou project could become a game changer for Chinese steel mills. Caixin learned that Baowu’s proposed $6 billion investment would put $4.5 billion into the southern blocks and $1.5 billion into the northern blocks. Under the Baowu plan, 15% of the fund would come from Baowu, 35% from other steelmakers, 25% from the sovereign wealth fund, 10% from other institutional investors and 15% from infrastructure investors. Baowu has held talks with major domestic steel companies since June, including Shougang Group Co. Ltd., China Minmetals Corp. and Jianlong Group. It also met with Simandou’s current investors Chinalco and SMB-Winning, Caixin learned. Baowu Chairman Chen is very enthusiastic about the Simandou investment and wants to push it forward, said a person close to the company. But the plan is still at an early stage, and many Chinese steelmakers are hesitant to take part because of different concerns over iron ore supply, a steel industry professional told Caixin. Meanwhile, financial investors shy away from the long investment period and related uncertainties, a fund manager said. Even if Baowu’s plan wins supports from other investors, it will remain a major challenge to negotiate a way to work with the current project shareholders, analysts said. A person close to the matter said Baowu hopes to persuade Rio Tinto to sell part or all of its Simandou stake. No easy money Getting the minerals out of Guinea’s mountainous hinterland and transporting the ore to China will be a challenge requiring massive investment in infrastructure and logistics, the investor said. The Guinean government is seeking to leverage the Simandou project to expand domestic infrastructure, demanding construction of a 650-kilometer Trans-Guinea Railway and a deep-water port as well as supportive facilities. This would mean a huge additional investment for Simandou developers. A study by Rio Tinto before 2016 showed that overall investment in block 3 and 4 could amount $18 billion. A preliminary study by Baowu projected $15 of billion investment for the two blocks, while SMB-Winning estimated $14 billion of spending for the other two blocks. Such massive construction also means a longer investment period. Analysts said it could take as long as eight years for Simandou to complete construction and start delivery. A greater challenge would come from market response after Simandou commences production. “Once Simandou starts production, international iron ore prices will be slashed, hurting investors’ interests,” a financial institution source said. Average production cost at Simandou might range between $35 and $40 a ton, compared with $15 to $20 a ton in Australia, making it more vulnerable to price wars, analysts said. “It is almost certain that the four mining giants will cut prices after Simandou starts operation to kill it,” a fund manager said. The financial institution source said considering the complexity of the Simandou project, it will need to be pushed forward by state-level coordination and planning. However, another source said authorities haven’t shown any interest in offering state backing to the Simandou project amid concerns over domestic steel industry overcapacity. (Source: hxxps://www.caixingl |
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