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
  -0.44 -6.32% 6.52 479,898 16:35:13
Bid Price Offer Price High Price Low Price Open Price
6.84 7.32 7.04 6.84 6.84
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
16:35:13 UT 5 6.52 GBX

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2021-06-18 15:35:136.5250.33UT
2021-06-18 15:28:366.8410.07AT
2021-06-18 15:28:306.8410.07AT
2021-06-18 15:21:217.45402.98O
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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 6.96p.
Zanaga Iron Ore Company Limited has a 4 week average price of 6.52p and a 12 week average price of 6.52p.
The 1 year high share price is 10.05p while the 1 year low share price is currently 4.77p.
There are currently 307,034,367 shares in issue and the average daily traded volume is 416,389 shares. The market capitalisation of Zanaga Iron Ore Company Limited is £20,018,640.73.
gismo: Morning Rayrac, you in zioc? Treading water as always but will there be a change soon...
extrader: Worth remembering the terms of the Shard facility, where this last tranche is at ZIOC's discretion, as Elphick emphasized : .."a financing structure has been put in place which will give the Company access to funding through a relatively low cost structure which minimises dilution to shareholders..." Avoiding unnecessary dilution has been a hallmark : ZIOC only has about 10% more shares now than at IPO a decade ago, probably unique on AIM. Why ? Because Elphick and pals have 'skin in the game'. I think the staggered terms of the Shard facility 6/20, coupled with the intro of management incentive scheme 8/19 and COIDIC 12/19 point to their hope/expectation that a deal was around the corner....or at least, a reasonable prospect ....and that they hoped not to need 3rd drawdown. ZIOC, it seems to me, are doing what they can to protect their (as shareholder) interests, whilst waiting for 'events, dear boy, events' (copyright : Harold Macmillan) to unfold. IMO
gta5: So, another can-kicker of a RNS. I think AT has not done himself or ZIOC any favours by dragging out this as long as he has, but then again, maybe it's a Jumelles piece of work and ZIOC can only release it when finished and approved by the JV and perhaps little to do with AT. It does raise the question of what he does with his 40 working hours a week, and Elphick, and and our other people... Either way, nothing new reported, nothing of consequence has happened. Unless, and to paraphrase Extrader's eloquent quote; lacking of news is not news of lacking.... even though it really really feels like it sometimes! I think the only thing we can do is to hold the lottery tickets we're each comfortable with (losing it all in worst case) and keep our eyes peeled for news on the ground. I'd expect IMF and China to be good indicators. Perhaps some progress on the ground with SEZ would be a good pre-cursor to events actually unfolding... GL, GTA.
deanmatlazin: RNS Number : 4715U Zanaga Iron Ore Company Ltd 06 April 2021 6 April 2021 Update on timing of 12Mtpa Project Re-Costing Exercise Zanaga Iron Ore Company ("ZIOC" or the "Company") (AIM:ZIOC) announces that the re-costing exercise on the Zanaga 12Mtpa Staged Development Project ("FS Cost Review"), announced on 29 September 2020, is being completed and is expected to be concluded around the middle of April 2021. The Feasibilty Study result will come out any time. I am sure the numbers will be great. Hope Glencore will give full finance and this should rocket. Get in now
extrader: If round figs 'sells' of 100K multiples are Shard - which seems likely - someone's posted elsewhere that they've run through 2.5 million in the last few days. Shard started Tranche 2 of 7 million around 8th Jan, so I'd think likely. If they have exhausted (2), we should be told (I know, I know), the interesting thing would be what ZIOC then had to say (if anything) about Tranche (3), which is optional : .."Further, ZIOC has the discretion to elect to issue up to a further 7 million shares by way of the Third Tranche..." We know mgmnt don't like unnecessary dilution, so any comment would be a useful (not necessarily welcome) 'smoke signal'. IMO
extrader: Today's Depeches de Brazzaville has a full page article 'Towards a new Sino-African paradigm' that runs through a potted history of China in Africa, its support for economic development , its more recent support for Covid PPE etc, ie lots of 'hearts and minds' stuff. hxxps:// download (telecharger) today's date It then talks about COIDIC and its role in a more integrated approach to investment by China, making 3 x interesting references : .."most African governments including that of Congo Brazzaville, are gradually opening up to investment, energy sectors, urban transport and services, allowing investors to enter projects through multiple funding models such as than BOT, BOOT and PPP. The objective of COIDIC is to move from the simple export of labor to the export of labor, capital, technology, standards as well as management. (1) As such, we can highlight in this new situation, the entry of the China State Construction Engineering (CSCE) in the capital of the Congolaise des Routes, after having been the builder. This concession of 27 years, will allow this company in association with EGIS International and the Congolese State, to maintain and manage a corridor of more than 1200 km, which goes from the Port of Pointe Noire to the world-class iron ore zone, from the Nabemba Mountains, Avima and Bandondo in the Department of Sangha in northern Congo. (2) Still talking of this mineral, this time in the southern part of the Congo, we can point out the agreement between Zanaga Iron Ore Company Ltd (ZIOC) and COIDIC, relating to the acquisition of a stake in the latter in the capital of ZIOC. Anticipating the involvement of COIDIC in the realization of the ZES of Pointe Noire, both parties hope that the infrastructure planned in this area will be in line with their objectives of participation in the management of infrastructure for one and profitability for the other. (3) This model will also be found as part of an almost 60-year-old project, namely the hydroelectric dam of Sounda in the Kouilou. Estimated at over 2 billion USD and for which the Congo had chosen the IFC, subsidiary of the World Bank, as facilitator, it is ultimately China Railway Group Corporation which will be the developer in the part of a concession contract. In conclusion, we can say that the prospects for a new course in Sino-African relations are emerging with a more pragmatic vision backed by a more realistic legal, commercial and social environment. Africa integrated within the AfCFTA intends in the long term, to promote its industry and to consume what it produces. .." It's probably all a poorly-understood re-hash of 'old news', but (1) is a land route for export of the 3 recently sequestered mines (2) suggests COIDIC taking an equity stake in ZIOC (NB : not Zanaga or Jumelles) and (3) is 'refreshing' an old project for the Sounda dam, which was IFC/World Bank , suggesting it's to be revived by China Railway Group. [This may be a typo : I think one of COIDIC's consortium shareholders is a specialist in dams ?] Watch this space ? ATB
extrader: Hi GTA5 Yes ! Nagle is 'studiedly' opaque... As to .."the lack of visibility from our board and marketing is a clear sign that all is not well in a macro-environment that should be cause for celebration and a lot of public engagement and attention..." surely that reflects the likely partners/counterparts in any deal ? In order, (1)If, as we suspect, it'll be Chinese, I don't think they are unduly concerned about market perceptions, so they don't have to 'justify' any price paid by reference to the historic or recent price, so the share price doesn't matter to them. (2) Any rabbit that GLEN/ZIOC pull out of the hat actually looks better if its a multiple of the current price. So they're likely spot shareprice-indifferent (3) A high share price is only of interest to ZIOC if it wants/needs to use its shares as 'currency' in any future M & A activity...which I don't think is on the cards. OK,I get that a higher share price would get more bang for your Shard buck, but there I think 'dilution aversion' would kick in once their minimal funding needs were covered. (4) And a low share price is actually beneficial to the 'management team' if/when they're allocated their retention bonus.... If you ask yourself 'cui bono' ? amongst the people who matter (which deffo aren't the PIs), if anything the share price reflects pretty accurately the 'benign neglect' that we're seeing.... IMO ATB
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 Wei Simandou, 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:// )
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 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
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