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ZIOC Zanaga Iron Ore Company Limited

4.545
0.00 (0.0%)
29 Sep 2023 - Closed
Delayed by 15 minutes

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Share Name Share Symbol Market Type Share ISIN Share Description
Zanaga Iron Ore Company Limited LSE:ZIOC London Ordinary Share VGG9888M1023 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 4.545 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
4.20 4.89
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Offices-holdng Companies,nec 0.00 8.10 1.40 4.53 27.51
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 4.545 GBX

Zanaga Iron Ore (ZIOC) Latest News

Zanaga Iron Ore (ZIOC) Discussions and Chat

Zanaga Iron Ore Forums and Chat

Date Time Title Posts
14/9/202316:31ZIOC Zanaga Iron A 2018 MULTI BAGGER TOP FOR 2018 2,369
15/11/202211:42Zanaga Iron Ore Company10,217
11/9/201908:13ZIOC Zanaga Iron A 2018 MULTI BAGGER 469
11/9/201907:21A un-moderated Zanaga thread. Open to ALL. Not the FEW87
03/8/201809:30The Tidy and Topaz thread81

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Zanaga Iron Ore (ZIOC) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-09-28 15:13:244.5932,5051,490.81O
2023-09-28 12:55:304.6081,6363,756.43O
2023-09-28 09:55:334.3110,000431.04O

Zanaga Iron Ore (ZIOC) Top Chat Posts

Top Posts
Posted at 12/7/2023 10:29 by extrader
There's been a lot of criticism re the Shard facility, some of it perhaps warranted, others maybe showing a lack of familiarity re the detail.

If you read the November 'Acquisition' RNS, you'll see

.."· Funding agreement

o In order to fund the Project's continuing work programme and budget, as well as the working capital requirements of ZIOC, until 31 December 2023, Glencore Projects has agreed to amend the terms of the Loan Agreement as follows:

§ increase in loan quantum from US$1.2 million to US$1.8 million;

§ extension of loan repayment date to 31 December 2023.

§ Jumelles may utilise up to US$200,000 of the loan facility to advance loans to ZIOC to fund its working capital..."

From which it's reasonable to deduce that (a) $ 600,000 was all the extra funding foreseen as needed to see ZIOC through to (b) extended 31 Dec 2023.

It also suggests that the new Shard facility (set up just before YE results publication) was much more likely driven by need to avoid a 'going concern' (12 month outlook) qualification, rather than any pressing need for funds.

We know that the previous Shard facility , for fewer shares, was drawn down over 3 years.

As to why not just have GLEN increase (again) the amount and term of the existing loan facility, consider the optics : had it done so, that would show that 'new ZIOC' was still in GLEN's pocket, rather undermining the necessary legal/commercial fiction - and purpose- of the 'acquisition' in the first place.

Consistent with this interpretation, the GLEN Board members couldn't 'get all over this', because they are 2 x (minority) NEDs...

Note too that the original Loan facility was agreed two months earlier in Sept 2022,(ie pre 'Acquisition) when ZIOC's cash balance was down to $ 0.1m, with remaining Shard facility expected to suffice to Q3 2023 *,

* incidentally, showing ZIOC's extreme reluctance to dilute unnecessarily

and that

.."Work programme and budget for 2022, and $1.2m Jumelles Ltd working capital loan facility, agreed with Glencore Projects Pty Ltd ("Glencore"), a subsidiary of Glencore plc

o Loan provides full financing for the Zanaga Project budget until 30 June 2023.."

Paradoxically, you could argue that (1) GLEN's apparent 'going along' with the (dilutive) Shard facility together with (2) the apparent lack of immediate funding need suggest that the Shard facility requirement is indeed 'technical'.....and may, rpt may also suggest that 'the deal' may indeed be closer than some suppose :

- loan terms agreed in Sept 2022 are tweaked (amount/tenor) at time of Acquisition(Nov 2022), when 'deal-enabling' re-structure takes place; independent newCo ZIOC takes out new Shard facility, for which it seemingly has no pressing need.

It's at least conceivable that we've seen this succession of short-term measures because management expect/expected to be 'overtaken by events'.

I normally leave this sort of dot-joining to MM....where is he, BTW? When last heard of, he said he had 'a long list of potential share price kickers I'm watching for. Some are actually in play.'

More stuff from flightradar24?

As ever, just IMO (atm); NAI, DYOR, etc etc

GLA
Posted at 05/7/2023 03:16 by extrader
Hi Terminator

You’re wrong.

An overhang only arises where there's a holder who's a motivated seller.

AIUI, ZIOC has no immediate cash needs and the Shard arrangement was 'technical', to satisfy the 12 month 'going concern ' outlook, which looks beyond the 31/12/2023 end-date of the GLEN facility.

So there won't/shouldn't be any likelihood of Shard rushing to place shares, killing off any rise. In fact, because their ££ comes from their 5% commission chargeable on a 3-month 'lookback' basis, they're actually incentivised to slow down sales in a rising market.

Companies House show them as a boutique financial services business, catering to family offices, HighNet Worth individuals, Golden Visa applicants, etc. They look after Client Assets of £ 1.2Bn and have assets under management AUM of US$ 2.14 Bn. So they're unlikely to 'front run' any customer purchases.



Their website hxxps://www.shardcapitalstockbrokers.com/ isn't overly informative or kept up to date, but amongst its palette of products is

ALTERNATIVE RESOURCE CAPITAL

“Alternative Resource Capital is a natural-resources focused financial advisor and corporate broker.

ARC leverages its in-house specialist expertise as it seeks to become a leading advisory firm, providing corporate broking, research, institutional sales and corporate finance services.

Its team, which has many years’ experience, is well known in the sector, having successfully executed a variety of transactions for both public and private mining companies, across a wide range of commodities……”

It's not inconceivable that Shard - which doesn't have to pay for the Shares at time of subscription - will take ZIOC's advice (maybe even instruction?) on when to place, based on ZIOC's actual cash requirements and other considerations, including the share price. Who knows - ZIOC may even have a say in who gets sent an application....?

Look how long it took to eke out the last facility - 3 YEARS -and Elphick's repeated invocation of 'minimize shareholder dilution' :

-6/2020 3x 7m tranches announced (again, just before 2019 results and 'going concern' test;

-1/2021 7m placed

-5/2021 7m placed

-7/2022 4m placed, 3m left

-6/2023 3 x 12m tranches

AT missed a trick in not pointing this out in the release, IMO.


ATB
Posted at 03/7/2023 09:01 by kimchi1
Clifford Elphick, Non-Executive Chairman of ZIOC, commented:

"I am pleased to report that ZIOC has launched a process with its Chinese EPC Partner to secure Chinese contractor pricing and to update the cost estimates of the 30Mtpa Feasibility Study, while also considering the application of new iron ore processing technology to reduce estimated costs further.

Furthermore, port infrastructure discussions are underway with a large port infrastructure development firm seeking to expand the existing port of Pointe-Noire. Consideration is also being given to potential development solutions for a large bulk mineral port capable of supporting the 30Mtpa staged development project.

2022 was apivotal year for ZIOC, with the controlling shareholding of the Zanaga Project being acquired from Glencore in exchnage for shares in ZIOC. The streamlining of the ownership and control of the Zanaga Project enables ZIOC to now engage with strategic entities interested in participating in the Zanaga Project going forward, and ensures a single unified voice engaging with collaboration partners on the ground. It is pleasing to have secured the support of Glencore for this initiative and I look forward to working with the Glencore team in unlocking value from the project for all stakeholders going forward. "


--

Just for a bit of fun have taken a punt at under 10p, knowing full well it could be a loooooong-term investment, lol.
Posted at 27/6/2023 22:34 by extrader
GLEN has an historic aversion to 'greenfield' sites, one of the reasons (apart from economic circs) that ZIOC never progressed.

The Nov 22 restructuring broke the impasse, enabling GLEN to support a deal that wouldn't require it to make any longterm funding commitment, whilst still allowing it to earn from the offtake/marketing of any eventual production.

So, IF there's a deal, the expectation is that we'll be bought out...and won't share in the post-completion upside; but we won't share in the multiyear risks or financing (which we can't afford anyway).

Have a look at the last 2 weeks' worth of posts on lse and the potential share prices being mentioned by the longtimers there, for a more likely share price range and timeframe.

HTH and ATB
NAI, IMO, DYOR etc etc
Posted at 27/6/2023 17:04 by runnerpete22
SIE,
In a nutshell, no, no and yes., and you may be too late to board the train, as the Annual Results and "maybe" an additional update are due to be released no later than the end of this week. We may also get news of a total buy out or some other arrangement either this week, or very soon after.If you are seriously considering jumping on board and learn what has been discovered by researching the internet, it would be best if you go over to the LSE forum, take the option of 100 posts per page, and then go back at least 10 pages. Study what the likes of Minorminer, Aberdeenman, Alwayshoping, Extrader amongst others have chosen to share on there. You will then learn just why the share price has taken off during the last few weeks and also why the share price has an awfully long way to climb still.
NAI, DYOR etc, and good luck with whatever you choose to do.
Posted at 27/6/2023 13:07 by extrader
It IPO'd a small %age of shares @ £1.56 in Nov 2010, the price peaked at 206p in Jan 2011, just as the iron price went into multi year reverse and the project was effectively mothballed.

Throughout most of that period, there was minimal dilution, around 300m shares in issue (for ZIOC's 50% less 1 share of the Zanaga mine), this doubled to the present approx 600m when ZIOC acquired GLEN's share last Nov and 'new ZIOC' {owning 100% of the Project] came into being.

All this approximate, per stocko.

ATB
Posted at 21/6/2023 08:58 by runnerpete22
For the benefit of newcomers to this company, this info posted here back in April is still appropriate today.

Xcap123 Apr '23 - 10:16 - 2153 of 2223

I would have thought that the value of the DFS (and then some ) has to be reflected in the ZIOC mcap ?. Xstrata spent $350m plus additional studies , this would equate to about £300m mcap
Xcap123 Apr '23 - 10:20 - 2154 of 2223

I mean how much would it cost for a project like this cost in todays terms to a completed DFS - $500m ?

runnerpete2224 Apr '23 - 08:35 - 2158 of 2223 Edit

Xcap1..that expenditure alone equates to a share price of 47.5p Re the research and info from posters on LSE; it is incredible, and no wonder the share price is at just the start of what we believe will be an incredible journey in the very near future. With a nod to Aberdeenman over there, even if you dont get in at under 20p, you will still most likely make multiple of multiples of that price. FYI, a very miserly bid of just 1 billion US Dollars equates to a share price of £1.30 ish. NAI/DYOR/GLALTH
Posted at 24/4/2023 08:35 by runnerpete22
Xcap1..that expenditure alone equates to a share price of 47.5p Re the research and info from posters on LSE; it is incredible, and no wonder the share price is at just the start of what we believe will be an incredible journey in the very near future. With a nod to Aberdeenman over there, even if you dont get in at under 20p, you will still most likely make multiple of multiples of that price. FYI, a very miserly bid of just 1 billion US Dollars equates to a share price of £1.30 ish. NAI/DYOR/GLALTH.
Posted at 23/11/2022 12:23 by bcape
RNS Number : 2812H
Zanaga Iron Ore Company Ltd
23 November 2022

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, such information is now considered to be in the public domain.

23 November 2022

PROPOSED ACQUISITION OF GLENCORE'S SHAREHOLDING IN THE ZANAGA IRON ORE PROJECT



Zanaga Iron Ore Company Limited ("ZIOC" or the "Company") (AIM: ZIOC) is pleased to announce that an agreement has been reached with Glencore Projects, for the acquisition of Glencore Projects' controlling shareholding in the Project, located in the Republic of Congo through the purchase of Glencore Projects' 50% plus one share interest in Jumelles, an entity which indirectly holds the benefit of the Project's mining licence, for a minority shareholding in ZIOC. ZIOC and MPD, an indirect wholly owned subsidiary of Jumelles which holds the benefit of the Project's mining licence, have also entered into a Marketing Agreement with Glencore International, which will take effect immediately prior to Completion, for the sale and purchase of all future iron ore production from the Project or any other of their or their Affiliates' assets using similar infrastructure in the Republic of Congo.

Highlights

· Proposed acquisition by ZIOC of Glencore Projects' controlling shareholding in Jumelles, indirect owner of the Project

o Subject to ZIOC shareholder approval, the Acquisition will be concluded through the issuance of 286,340,379 new Shares to Glencore Projects, which are expected to represent a shareholding of 48.26% in ZIOC on Completion.

o Relationship Agreement to be entered into between Glencore Projects and ZIOC with effect from Completion to ensure that the Company can carry on its business independently of Glencore Projects.

o Glencore Projects will have the right with effect from Completion to appoint two non-executive directors to the Board of ZIOC.

o Glencore Projects has agreed that it will not dispose of any of the Consideration Shares in the Company in the six months following Admission without the consent of the Company (not to be unreasonably withheld or delayed) other than in certain limited circumstances and to comply with orderly market provisions in the following six months.

· Marketing Agreement entered into between Glencore International, the Company and MPD which will take effect immediately prior to Completion

o Life-of-mine marketing agreement granting Glencore International the exclusive marketing right for all iron ore conforming to certain specifications produced by MPD, ZIOC or their respective Affiliates from the Project or in the Republic of Congo using similar infrastructure that is not subject to existing sales arrangements.

o Agreement by Glencore Projects to purchase from MPD or the Company the Product, or sell the Product on behalf of the Company on arm's length terms.

o Glencore International to be entitled to receive a marketing fee in accordance with the detailed provisions of the Marketing Agreement.

· Funding agreement

o In order to fund the Project's continuing work programme and budget, as well as the working capital requirements of ZIOC, until 31 December 2023, Glencore Projects has agreed to amend the terms of the Loan Agreement as follows:

§ increase in loan quantum from US$1.2 million to US$1.8 million;

§ extension of loan repayment date to 31 December 2023.

§ Jumelles may utilise up to US$200,000 of the loan facility to advance loans to ZIOC to fund its working capital.

· General Meeting

o A notice of a general meeting to be convened for on or around 13 December 2022 will be sent to Shareholders shortly to seek authority for the directors to: (i) issue 286,340,379 Shares pursuant to the Acquisition; and (ii) not require Glencore Projects to make a takeover offer in accordance with Regulation 33 of the Articles in connection with the Acquisition.



Clifford Elphick, Non-Executive Chairman of ZIOC, commented:

"The acquisition of Glencore Projects' shareholding in the Project is a key milestone for ZIOC's shareholders, demonstrating to third party investors that the Project is now represented by a single entity and management strategy. The Acquisition is value accretive to Shareholders and increases effective equity ownership of the Project by existing Shareholders, enhancing their look-through ownership of the Project and securing control of the Project without paying any premium for such interest.

Furthermore, entering into the Marketing Agreement with Glencore International now provides comfort to investors and financiers that the Project's future production is underpinned by one of the largest iron ore traders globally."

For further information, please contact:

Zanaga Iron Ore Company Limited

Corporate Development and Andrew Trahar

Investor Relations Manager +44 20 7399 1105

Liberum Capital Limited

Nominated Adviser, Financial Scott Mathieson, Edward Thomas

Adviser and Corporate Broker +44 20 3100 2000


About us:

Zanaga Iron Ore Company Limited ("ZIOC" or the "Company") (AIM ticker: ZIOC) is the owner of 50% less one share in the Zanaga Iron Ore Project based in the Republic of Congo through its investment in its associate Jumelles Limited. The Zanaga Iron Ore Project is one of the largest iron ore deposits in Africa and has the potential to become a world-class iron ore producer.

General

All statements, other than statements of historical facts, included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations or statements relating to expectations in relation to dividends or any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "plans", "will", "may", "anticipates", "would", "could" or similar expressions or the negative thereof, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance, achievements of or dividends paid by the Company to be materially different from actual results, performance or achievements, or dividend payments expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's net asset value, present and future business strategies and income flows and the environment in which the Company will operate in the future.

These forward-looking statements speak only as of the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto, any new information or any change in events, conditions or circumstances on which any such statements are based, unless required to do so by law or any appropriate regulatory authority.



Shareholders should read the risk factors set out in the Company's annual report and accounts that could affect the Company's future performance and the industry in which it operates. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements in this announcement may not occur.
Posted at 28/1/2022 09:13 by jack4691
Greenelf, suffice to say You are just another Ramping Fraud like MoneyMunch, Gismo, Gizmo etc. Criminals who try and con innocent investors with FAKE NEWS. The plain fact is the ZIOC share price is going nowhere, railway or no railway. Try harder 1D10T !! This morning the share price is DOWN 6% thanks to the FAKE NEWS from that B1TCH !!!!!!!!
Zanaga Iron Ore share price data is direct from the London Stock Exchange
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