Zanaga Iron Ore Share Discussion Threads

[xcap1] 02/10/2023 15:19

Yes it did , agree

[extrader] 02/10/2023 15:18

You've misinterpreted, I'm afraid : the key words being that the sentence started 'By way of illustration...' and then did a calculation based on the then-prevailing price.

HTH

[xcap1] 02/10/2023 15:04

Maybe they have indicated to shard not to sell less then this range

[xcap1] 02/10/2023 15:03

I recall from the rns that the board indicated shard could raise the funds at a selling price of between 13p-15p ?

[extrader] 02/10/2023 14:06

There are 2 agreed 12m tranches and a 3rd at ZIOC's discretion.

They're partway through the 1st 12m

If you're concerned about dilution, there are warrants for abt 20m shares outstanding and there'll probably be another slug of shares issued shortly.

This announcement is probably what has triggered the latest interest: to make up for the last 4 years that management/Board haven't taken salaries.
The news that they're going to sort this out 'imminently' makes people think something MAY (finally)be about to happen...

Non Exec Chair/founder Elphick has abt 80m shares and has been miserly in share issuance since 2010, keen to avoid dilution.

Speculation elsewhere is that there might be 50 to 100 million issued as a result.
HTH

NAI, DYOR etc etc

[seagreen] 02/10/2023 13:47

How many more shares do Shard have to sell with their subscription raise

[catchingmice] 02/10/2023 10:20

So many ups & down with this stock I must have held it now for over 6yrs....sold half of my holding a few years back but I've been waiting for a recovery since thenA long way to go yet before i break even on the remaining stock i hold

[xcap1] 02/10/2023 10:17

Surely now got to looking at 20p plus

[runnerpete22] 02/10/2023 09:38

I posted this back in June..even more appropriate now AND at sub 8p !!!!

Runnerpete2227 Jun '23 - 12:09 - 2268 of 2374 Edit
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For those looking in for the first time and then think that they have missed the boat again, just remember that a really really miserly bid of just One Billion US Dollars equates to a price of £1-33 per share. And those today can still be bought for sub 20p, and still a really nice multi bagger.

NAI DYOR etc etc GLALTH, our time is coming....and very very soon.

[801710245] 02/10/2023 08:55

This is going mental this morning :o )

[extrader] 29/9/2023 14:01

Hi Jiving,

I'm not very clued-up on HR matters and have never been in a position where these things were relevant to me personally, alas

From rooting around a bit this morning, I've got the flwg bits that may give some perspective :

(1) From the GEMD accounts, CE's other company (which, like ZIOC, he founded and where he's CEO), which is trading profitably, but not wonderfully
- his base is abt £600K, with LTIPs etc another £400K;
- his CFO is abt £ 400K, plus £ 100K;
- his NED Chair is on £ 125K, the other NEDs abt £ 50K (they don't get anything else, AFAICS)
Interestingly, GEMD says he's currently PAID £ 83K for his nonExec Chair at ZIOC......(maybe an 'oops !' moment ?)

Everyone at GEMD obvs has a lot of v public personal legal responsibility and disclosure issues (hopefully insured against) as an active public company, that don't apply to the same extent at ZIOC, I imagine.

(2) ZIOC BoD is a 2-parter, 3 x 'old ZIOC' NEDs, Elphick (founder/shareholder rep), Dines (China hand) and Velloza (mining expertise) and 2 x exGLEN , Peter Hill (head of Iron Ore marketing ) and Denis Weinstein (trader and - I think -general 'fixer'). As recent (but mission-critical) arrivals, I'd hope that Elphick would argue that they should be (well) rewarded.... but by GLEN !
ZIOC 'management' team: going back to 2019, I seem to recall that there were 3 or so - Andrew Trahar , Velloza's predecessor and A.N. Other ?
Apart from the Q re Elphick (is he paid or not?), I see that Mitch 984 has raised the Q of whether AT (at least) is or has been paid in shares 'in lieu of salary'.

(3) Then there's the Q how much 'deferred salary' vs how much 'success fee', for want of a better word.
I'm sure there's an internal memo somewhere that sets out everyone's expectations !...and maybe even rights....?

(4) With his 80m shares, Elphick's interests aren't aligned with the others, who AFAICS have few shares : they'll be interested in maximising, he (unless he's v generous to himself), will be considering the dilution effect on those 80m...
Dines apparently has 630K shares, Velloza 214K.

(5) Same concern (dilution) applies even more to GLEN, with its 286m......

(6) Then there's the Q about the structure of any deal and whether those affected have (or want to have) any future role in the Project's development. Depending on how far in discussions they are (if at all) that might have a bearing on what they negotiate.

(7) They're leaving themselves lots of wiggle room, as I highlighted earlier .." As of today, discussions with management continue and a resolution is expected to be reached IMMINENTLY through the issue of shares in consideration of PART of this deferred consideration...."

Note the caps !
I guess we'll find out (something) soon enough!

E&OE, ATB and GLA

[davidlloyd] 29/9/2023 08:31

Ducks in a row…..😉;
DL

[extrader] 29/9/2023 08:11

The first action will probably be this :

.."The Company continues to review the costs of its operational activities with a view to conserving its cash resources. As part of such review, and in order to preserve the cash position of the Company, it has been agreed with the Directors (since January 2019) and Management (since September 2019) that fees previously deferred would be reviewed. As of today, discussions with management continue and a resolution is expected to be reached imminently through the issue of shares in consideration of part of this deferred consideration...."

The reason being that they'll want to have these share awards disclosed asap , to be ratified /approved at the AGM in November, before any serious negotiations get underway.

At a guess.
ATB

[photon] 29/9/2023 07:32

Finally a timetable for action and a strategic partner to be selected in Q1 24.

[801710245] 14/9/2023 15:31

Substantial 'buy' at the death there - assuming it was a 'buy'?

[pugugly] 07/9/2023 06:36

Hi seagreen:-
Reason negative well supported by historical research - Most stock lose investors money. I am looking for the 1% and follow up 3% that drive the indexes up

Copied below post no2 on LONG thread and links to Hendrik Bessembinder research.


"Research by Arizona State University professor Hendrik Bessembinder shows that more than half of the $55.1tn in net wealth generated by the US equity market between 1926 and 2022 came from the performance of fewer than 0.3 per cent of the market’s stocks, with the other half of this net wealth coming from the next best 3.1 per cent of stocks. Moreover, almost three-fifths of stocks actually destroyed wealth over the period. In quant-speak, the distribution of compound stock returns has been very positively skewed.(Short extract from the FT). Research goes on to show applies to most other countries.

Link to main source papers which can be accessed on line or down loaded.

[pugugly] 29/8/2023 10:09

Top list 5 day faller - Down 23.54%. Just a pile of iron rich rocks with very restricted infrastructure to exploit and China having massive problems with construction.

Plus of course funding -

Sorry for all who got sucked into this

OK could be rescued by a t/o offer but would not bet the farm or even one small field!!

[highly geared] 25/8/2023 08:14

Has the reason that caused the price rise between November 22 and May 23 now been discounted or disproved?

[the count of monte_cristo] 23/8/2023 12:40

I doubt it.

[volsung] 22/8/2023 18:29

Should bounce nicely from here

[chesty1] 15/8/2023 15:23

CHESTY111 Jul '23 - 15:51 - 2345 of 2359 Edit
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Nobody talking & watching it fall now.



Bang on what a dog!