Zanaga Iron Ore Share Discussion Threads

[pauladrew] 08/3/2016 20:11

topazfrenzy I note what you say but the cash position is not 3p a share as that would equate to over £8m. The cash position on 30th June 2015 stood at £6.8m minus 8 months cash burn to date.I asked richie666 how he arrived at a cash position of 3p a share (based on the current m/cap at 8.67m calculated on 3.1p per share).

DYOR and work out your own figures but if you work on the same cash burn over the last 12 month period, the cash left at 30th June 2016 could be down to £1.3m.

[topazfrenzy] 08/3/2016 19:51

pauladrew, from the half yearly report:
'Ignoring any entitlement to savings, ZIOC's potential contribution to the Project in 2015 is expected to be US$2.95m in total.'

'Separately, ZIOC has taken steps to reduce corporate overheads. A number of areas were identified where savings could be achieved and a cost reduction plan has been completed, with the Company now better positioned to weather the current cycle. As part of this overall process, we have also undertaken a streamlining of the ZIOC board with Dave Elzas, Colin Harris and Alistair Franklin retiring at the AGM on 22 July 2015. The Company will continue to review its board composition and will seek to enlarge the board once the level of operational activity justifies the additional cost.

Following the reduction of the cost base at the Zanaga Project, as well as the costs associated with the management of ZIOC, we are now well positioned to support our operations going forward. As at 30 June 2015, we had cash reserves of US$9.7m and continue to be prudent with our cash.'

[pauladrew] 08/3/2016 19:34

Richie666 I don't think the cash position is 3p a share. Extract taken from last account records:

30 June 2015 30 June 2014 31 December 2014
Unaudited Unaudited Audited
US$m US$m US$m

Cash
9.7 17.6 12.5

The cash position on 30th June 2015 was US$9.7 = £6.8m minus 8 months cash burn.

The cash burn was US$7.9 between 30th June 2014 and 30th June 2015 = around £5.50m.

DYOR and work out your own figures but if you work on the same cash burn over the last 12 month period, the cash left at 30th June 2016 could be down to £1.3m. I don't know how you have arrived at the cash position of 3p per share when the m/cap is at £8.67m based on 3.1p per share. Perhaps you can explain.

[richie666] 08/3/2016 18:57

3p per share

[investment dave] 08/3/2016 18:38

How much cash do zioc have

[topazfrenzy] 08/3/2016 18:23

Here is an excellent summary of this exceptionally compelling investment:

hxxp://www.zanagairon.com/project/strengths-of-the-zanaga-project

[richie666] 08/3/2016 18:15

Today was the wake up call. Switch off screen and revisit in a few weeks.

[topazfrenzy] 08/3/2016 16:45

5th largest reserves on the planet. Huge rewards coming here and no debt and lots of cash, those who decided to sell out in panic after spike is a bit odd seeing what could happen here at any time. This is just starting to wake up! It was £1.70 a few years ago.

I am looking for 20p to 50p here.

[nash81] 08/3/2016 16:16

2bn proven iron ore!

some buy and selling taking profit. for me, this i will hold till double digit share price may not reach today but soon i hope. with not many shares available (as mostly owned by institutional investors) and huge cash balance (we wont need any funding for the next few years) and Glencore has pump 100m+ into the project, our share price can only increase from here.

from memory, ZIOC has 2bn iron ore (correct me if i am wrong). there are several other iron ore companies in AIM but they dont have as many as ZIOC proven assets!

[nash81] 08/3/2016 16:16

nicely said from LSE

rns confirmed that the reason for much interest in ZIOC is increased in iron ore price.. this share price will increase over the next few weeks as ZIOC has no reason to be trading sub 10p apart from low iron ore price. and since iron ore is increasing back up, equally our share price should be moving back up./

[horneblower] 08/3/2016 15:25

20p is not impossible. However, it's not going to happen for a while. July perhaps. In the meantime this should sink back to 2.25p support.

[topazfrenzy] 08/3/2016 15:18

From the website: 'As at 21 September 2015, the percentage of ordinary shares
that are not in public hands was 73.32%'

Expect these to go nuts when iron ore recovers more or a whiff of a takeover is forthcoming. Thus the scramble for shares, so few available at any given time.

[snowman88] 08/3/2016 15:09

Lol, the irony..

[topazfrenzy] 08/3/2016 15:07

Cheap as chips, waiting for 20p+

[snowman88] 08/3/2016 14:53

massive drop 30mins before the rns released.. hmmm... alright for those in the know eh!

[tomboyb] 08/3/2016 14:49

Fallen from ££s to 2-3p -

Ultimately the RNS gave a reason and that was the increase in the price of Iron -

Like I said if we are at the bottom end of the commodity cycle then some stock will rally -

[richie666] 08/3/2016 14:46

Another opportunity to get on board.

[topazfrenzy] 08/3/2016 14:24

Anything up to 10p is a steal in my opinion, read about the company and you'll see why! I'm holding for 20p +

[tomboyb] 08/3/2016 14:23

hxxp://www.abc.net.au/news/2016-03-08/iron-ore-rally-consolidates-holds-record-gains/7231482

iron-ore-rally-consolidates-holds-record-gains/7231482

There will be some huge risers if we are at the bottom end of the commodity cycle

[topazfrenzy] 08/3/2016 14:18

Well, no better opportunity than here really to make huge money, this will shoot up again, this is only the start. Glencore running it is the huge plus, not some fake mining project somewhere.

China keen to get its hands on projects like these sooner or later.

[300808] 08/3/2016 14:15

This was one of the best PE firms on Aim !

[regandharry5] 08/3/2016 14:14

Notice when these first came to the market they were 156p... They went to over 208p...

Those were the days.

[tomboyb] 08/3/2016 14:07

sml and wafm - with iron projects dyor

[comedy] 08/3/2016 14:04

well has our day finally come??::)) was buying here when dead and no one wanted them:)