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
  0.51 8.11% 6.80 1,766,529 16:35:05
Bid Price Offer Price High Price Low Price Open Price
6.56 6.78 6.88 6.02 6.60
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -1.42 -0.53 20
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:05 O 400,000 6.5125 GBX

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Date Time Title Posts
03/12/202010:24Zanaga Iron Ore Company9,656
25/9/202014:08ZIOC Zanaga Iron A 2018 MULTI BAGGER TOP FOR 2018 2,016
11/9/201907:13ZIOC Zanaga Iron A 2018 MULTI BAGGER 469
11/9/201906:21A un-moderated Zanaga thread. Open to ALL. Not the FEW87
03/8/201808:30The Tidy and Topaz thread81

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Zanaga Iron Ore Daily Update: Zanaga Iron Ore Company Limited is listed in the Mining sector of the London Stock Exchange with ticker ZIOC. The last closing price for Zanaga Iron Ore was 6.29p.
Zanaga Iron Ore Company Limited has a 4 week average price of 5.04p and a 12 week average price of 4.77p.
The 1 year high share price is 13.50p while the 1 year low share price is currently 3p.
There are currently 293,034,367 shares in issue and the average daily traded volume is 954,664 shares. The market capitalisation of Zanaga Iron Ore Company Limited is £19,926,336.96.
extrader: Hi all, A couple of things that might have prompted AT to do an unsolicited (?) interview, mentioning a not-quite-RNSable increase in approaches from 'strategic investors, Chinese and Western' : - next week sees the US election, in case no-one had noticed ;-<, outcome of which may have some bearing on US/China relations and the extent of the various unnamed investors' interest or otherwise in Zanaga; and -this Friday is the ZIOC AGM, which will presumably include sign-off/details of the Management Team Retention package for 2020. This is what they RNS'd last year, 3 days before the AGM : .."The calculation of the Retention Fee for each Team Member in respect of the 2019 calendar year is due to take place in October 2019. Each Team Member has agreed with ZIOC that he will use the Retention Fee due to him in October 2019 to subscribe for new Ordinary Shares in ZIOC at the market price of such shares at the relevant time. The number of the new Ordinary Shares so subscribed will be equal to the number of Reference Shares notionally attributed to him for the calendar year 2019. .. The arrangements for the payment of a Retention Fee for 2020 are broadly similar to those for 2019 described above, except that the amount of such Retention Fee will reduce pro rata if the Team Member's arrangement with the Company ceases before or during 2020. The total number of new ZIOC shares which could be issued in 2020 is yet to be determined and further announcements will be made at the relevant time..." It'll be interesting to see the size of this year's retention fee (last year 2.8m shares, 1% of shares in issue) , for now, though, AT and co have a vested interest in NOT talking the price up , IMO. ATB
extrader: Hi GTA5, Historically , I think we've been on the same page or nearby, this time I think you're misreading the situation : .."I'd rather have some "excitement" now and a quick (and small) placing at 250p/share for 10M shares to Coidic/Rio/Glen etc on the back of that excitement. Now THAT would give a bit of credibility to Zioc, not this drip of petty cash..." (1) What would £ 25m do for ZIOC , esp. if you believe, as I do that (a) they have no role to play once the big boys arrive; and (b) £ 25m is 'chump change' if they do want to remain involved. (2) Who would pony up £ 25m without having GLEN on-side ? and why set a 'floor' of 250p from the outset ? (3) ZIOC has minimal runcosts atm, AT's words emphasize that they intend to keep it that way ...and are really, really keen to avoid dilution. I think the most likely scenario is that - when there's some genuine interest - GLEN will take ZIOC out (hopefully at only a small discount to the end-price) and then sell out.... No idea how much GLEN would want (esp. in view of comments re views on possible royalties), mind... ATB
pugugly: As expected - Lack of buyers about "Zanaga Iron Ore Company ("ZIOC" or the "Company") (AIM:ZIOC) announces that, further to the announcement dated 26 June 2020 in relation to the Subscription Agreement with Shard Capital, the permitted sale period for the first tranche of the Company's shares issued pursuant to the Subscription Agreement has been extended by three months, as provided for in the Subscription Agreement. As announced in the Company's half-year results on 29 September 2020, of the 7 million shares issued to Shard Capital under the first tranche of the Subscription Agreement approximately 5 million of the shares have been successfully placed by Shard Capital as at 28 September 2020.
catchingmice: Is this rise a false dawn or just a correction on the share priceCannot see it sustained over next week but I'm all for surprises if it's anything else
gta5: Thanks sooty and greenelf. For what it's worth I'm still hopeful that my long term investment will come good one day soon, but as they say; "hope is not a strategy". I think a lot of new investors look at the NPV and share-price and say "wow, a 1000bagger, just need project finance". Reality is as we know is more multifaceted and complex. on the flipside of all the negativities above is of course that the big picture is looking very positive and as long as the legal and commercial rights to the asset are respected there are many factors converging strongly in our favour after years of stagnation that should see the value come through sooner or later. (ore price, ore purity, strategic over-reliance on Australia and Brazil, IMF/China debt etc etc.) Like I said a few posts back, in my mind, this has gone from a 10 to 1 punt to a 100 to 1 gamble, not bad odds, but not an investment that you can rely on in the traditional sense. Also, forgive my somewhat downbeat mood and extra-cynical analysis, I just noticed that the $30K i moved over from TSLA a couple of years ago at 220USD/share because it was overhyped to ZIOC at 10p that I thought was undervalued... Today i saw the current TSLA share price in an article. Whish I hadn't.) Anyway, here's an good recap of the current AUS/China/Africa stuff.... HTTPS://
gta5: Extrader, The reason i think the shareprice is important is because the market cap is key to Zanaga's ability to manoeuvre and be taken seriously. The argument we've been seeing all these years about the fact that the BOD have it all done and dusted behind the scenes and just waited for the right moment to make anouncements to the world fell apart like a house of cards the moment they traded 6% of the equity for short term lifesupport cash to keep the lights on another 12 months. The reason why that is important is because it shows multiple weaknesses: 1. There was no other taker. (including BOD, other JV partners or institutions/miners or even friendly high net worth individuals.) 2. If BOD were barred from outright investing (Closed period, NDA etc, blablabla) they could have extended a small lifesuport cash loan. None was given. 3. If you are close to finishing negotiations, or come to a strategically important deal around a multi BN project you don't hand over 6% equity/dilution just before it closes. That leads me to believe that either there is nothing imminent in the pipeline, or there is no value in the equity. Both options are quite damming. 4. with a "Normal" market cap of say 100M-200M they would have been able to raise $ as needed for much smaller cost and give them longer security. With that security comes options such as ability to diversify risk, ability to execute beyond twitter and flash CAD drawings of floating ports, or even buy into other projects or swap equity/JV with other partners that could help unlock the gordian knot they find themselves tangled up in. The more you look at it the more it looks like a shell company with 1 marketing guy that's treading water and a bunch of disinterested shareholders that have moved on, and Glencore that holds on as it's a very strategic get out of jail card with Nguesso that owes them $BN's from other dodgy deals... I don't dispute that ZIOC have a fantastic asset with an incredible amount of investment already sunk into it, permits etc. But the equity situation is a pittance, and I'm not seeing anything tangible happening that they are actively pushing to change that. Any institution should be breaking the doors down to get a 10% stake in ZIOC yet the only buyers are us AIM gamblers at 6p/share....why is that? why is equity of a mulitbillion dollar asset valued at a fraction of a percent? Even Glencore should have bitten their arm off to get 6% more of ZIOP for pocket-change. (Yes, I get discount to NPV, controlling partner discount, and Geo-risk and Covid etc, but we're a couple zeroes on the wrong side of sanity here) ho hum... It all seems to be out of their control, and zero tangible interest from Mgmt to change that situation. It looks like those founders at IPO time that have not divested already have written off the value and put these in the bottom drawer for now. Much like the rest of us? -Rant over- Go ZIOC! -GTA.
extrader: Hi Gismo, Quite right. Per the August 2019 RNS, the LTIP shares are options, exerciseable under certain conditions at 0.01p per share. These and other (then) unexercised options equal 6.44% of the (then) capital. The qualifying conditions don't appear to have been met for 2019, tbc tomorrow, presumably. The retention fee shares are :.." an ADDITIONAL [my bold] part of the overall fee structure agreed between the Company and the Team Members. This consists of an additional amount (the "Retention Fee") to be determined on a one-off basis in both October 2019 and December 2020. The Retention Fee for 2019 will be calculated on the basis of a number of potential new Ordinary Shares in ZIOC ("Reference Shares") which are notionally attributed to the Team Member concerned. · The calculation of the Retention Fee for each Team Member in respect of the 2019 calendar year is due to take place in October 2019. · Each Team Member has agreed with ZIOC that he will use the Retention Fee due to him in October 2019 to subscribe for new Ordinary Shares in ZIOC at the market price of such shares at the relevant time . The number of the new Ordinary Shares so subscribed will be equal to the number of Reference Shares notionally attributed to him for the calendar year 2019. If such Retention Fee does not become payable to the Team Member, the subscription for new Ordinary Shares in ZIOC by him described above will not take place. · The total number of new ZIOC shares which could be issued in 2019 in respect of the arrangements described above is 2,833,334 Ordinary Shares, representing approximately 1.00% of the Company's current issued share capital. A further announcement will be made upon the issuance of these Ordinary Shares..." We may or may not learn more about this second element tomorrow. I don't recall an RNS, so they may not have been issued...? ATB
extrader: Hi pugugly, You make a fair point when you write : .."to all - Please read the rns again - No prices mentioned - So (imo) NO BOTTGM PRICE at which these shares can be placed - Subject of couse to Zanga saying STOP So message received massive overhang with no bottom price. I am sure if I have got this wrong the bulls here will be able to point out where there is any restriction on minimum price at which the shares can be placed... As Jesse Livermore said : "There is only one side to the stock market; and it is not the bull side or the bear side, but the right side” . You are right to point out that, on the face of it, there is no bottom price at which the new shares can be placed. But Shard's deal with ZIOC is that it hands over 95% of GROSS subscription proceeds ie its net return is < 5%...and it's highly motivated in CASH terms to place subscriptions at the highest price it can. The terms of the second and third tranches of shares appear to give ZIOC an unusual amount of discretion as to when/whether they're issued (incl. termination and suspension)...and a clawback provision for 3, so worst case Shard could end up with only 1/3rd of its projected net fees to cover all its sunk marketing, legal and admin costs. By chance, I see that Shard is currently also involved in a fund-raising at LVGC (Live Company), in a .."Placing to raise £0.4 million gross (approximately £ 0.36 million net) at the Issue Price of 10 pence per share .." So, on the face of it - and other things being equal, which I accept may not be the case - £ 40k to raise £400K for LVGC and < £ 22k to raise £ 434 K (@ 6.2p) for ZIOC. In some respects , esp. when looking at the structure of tranches 2 and 3, one could credibly make the case that their deal with ZIOC is barely commercial, almost a 'loss leader'. Which would then invite the question : why ? ATB
extrader: Hi GTA5, You may well be right....and I perhaps should lay off the Kool-Aid ! However, in my defence I'd say : (1) ZIOC has always had to kick the can down the road because it's not in control of its destiny (something I think we agree on), nothing new there; (2) I interpret the Management Incentives 8/19 (13.6M shares LTIP; 2.83M shares Retention for 2019; X.XM ? shares Retention for 2020) as a signal that there was/is prospect of a 'monetisation event' and key players (3) needed to be kept 'on-side' (something else I think we agreed on ? IIRC, nobody quibbled over 16.4M ++ shares being issued for NIL (or as near as dammit) consideration, which is similar dilution to what is now proposed ); (3) On 11/12 2019, we get news of the COIDIC Framework Agreement w/Jumelles, which provides a structure for integrating Zanaga into a wider project complex. Lenin's question is relevant : Who, whom ? Do you think Jumelles/GLEN/ZIOC approached COIDIC...or the other way round ? I come back to (2) (4) Coronavirus arrives 'out of the blue' Jan + 2020, to throw multiple spanners 'in the works' : world economy/recovery, China/US, deal-making/cashflows/priorities. (5) The funding issue rears its head with the passage of time/ lack of progress to report and (I believe) becomes more pressing as we approach 30 June, perhaps because of concerns at possible auditor 'going concern' qualification, which would possibly kill any deal in the making and certainly be used as an argument for chiselling on the price... (6) There are cost/disclosure issues with a placement and possibly approval constraints re 'material Shareholder' loans (as seems to have gummed things a bit at 'connected' account NCCL). If the BoD are in a closed period, what deal involving a 'major Shareholder' could they/the NEDs approve ? [Serious question : I don't know]; (7) It may [my speculation] be tactically important to show interested parties that 'we can keep things going'....and that 'we' have our own version of COIDIC, able to help with some / any creative deal structuring. Is the glass half full or half empty ? I think in context and based on the above timeline, my case for 'half full' is reasonable. Of course, an engineer would just say that the glass was obviously the wrong size...! We may get a steer - and even some answers - soon enough. ATB PS As to the dilutive effect of the deal with SCM, the current price is already slightly up on the opening price and around the average over the last 6 months, had we gone down a 'placement' ' route; SCM is incentivised to 'encourage' the share price upwards; and the clawback mechanism for Tranche 3 suggests to me (the Kool Aid talking ?) that they're keen to avoid unnecessary dilution, both for the general reasons you've mentioned and the specific reason that it eats into the 3 Team Members' incentives...
gta5: So, Trahar and Elphick have shown their hand; No takers, no financing/debt/loans from board or partners. just dilution and can kicking forward. An open offer or shareholder loan would have instilled a lot more confidence in my opinion, especially as the negotiations and project development are behind closed doors and very opaque. The dilution itself is clearly limited and reasonable to shareholders, that I give them, but the possible funds it will generate are paltry and downward pressure on share price for the duration. Had Elphick given $2-5M cash loan it would have given the share price a huge boost and doing a 10% placing at 50P/share would have sorted the loan and Valuation (and Zanaga's standing as a small-cap company vs a micro-cap. They need every ounce of credibility to negotiate with RoC/China/Glen and at 3P/share its not there) Maybe a good opportunity for those in the know to pick up cheap shares, but not much of a reassurance to the average PI. Back into the bottom drawer with the rest.... GL GTA.
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