popes11
03 Dec 2015
Re: Major Shareholders Not sure whether to sell now at a paltry 0.5p a share of hang in there... but the residual value is just so low now.---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- -------Can you offset the loss against a capital gain on any other asset? That's all I can offer.Andrew Woollett will be hot property in the AIM once he walks away from this disaster. Whats he raised here? 150m something like that. Impressive really on reflection he pulled it off for no return. A skill in itself to keep people to keep putting hand in pocket.
HPC Follower
02 Dec 2015
Major Shareholders Only Sloane Robinson, the IFC and Andrew Woollett left now as major shareholders... rest down to zero (or less than a reportable 3%).Share price dropped again on lower volumes now that the two Major Shareholders have sold out... although It's very unclear who has picked up all those shares given the lack of any RNS for anybody growing their share.Meeting to give the board rights to proceed with a Placement down to a figure as low as 1p a share sought; and to let Korea Zinc take 90% of the facility if no placement can be arranged, set for 18th December.Can't see that remaining shareholders have much option left but to agree; neither is there any justification to buy any more ZOX stock even at a price well below 1p a share given the risks of the company now folding.This is all very upsetting for shareholders who have backed ZOX for so many years, through 3 placements and too many fixes to plans and plant.A "miracle" is needed now, or a lot of money and faith from Sloane Robinson, the IFC & ZOX directors who will need deep pockets as well - and probably have the most to lose financially.Not sure whether to sell now at a paltry 0.5p a share of hang in there... but the residual value is just so low now.
The buzz
01 Dec 2015
Re: RNS The Chinese are also cutting back on zinc production:-[link] but it is probably not going to have much affect on the price in the short term. I think that the price of zinc is at least $500mt below the price that ZOX needs it to be.The B
Cadenza
01 Dec 2015
who is picking up the stock coming out I wonder Who is picking up all the Hoegh shares plus the other blocks coming out? Cant be left in the hands of market makers so someone is taking a punt that ZOX can be raised from the dead and restructured. A distressed debt fund, IFC? On that basis I have just added @ .0085, I must be deluded, but little downside for a small outlay!
HPC Follower
01 Dec 2015
Re: RNS No more RNS on shares changing hands and trading volumes have dropped today (so far); slightly up overall.Guess we will have to wait now to see if ZOX can get promises for at least the extra $5 million needed (c. 5% of the Korea plant value) at a Placement Price which we can expect to be significantly discounted from the 6.675p closing price on 24/11, the day before the placement warning notice.Zinc price looks to be improving gradually from the $1500 a tonne low, but still volatile and a long way adrift from the $2000 to $2400 longer term expectations. I like the possibility that up to 50% of the zinc oxide can be processed into a zinc product worth double the money, especially since the plant break-even point would be nearer $1300 than £1600. But that's an opportunity for the future, out of reach right now.
HPC Follower
30 Nov 2015
Re: RNS Doubt Andrew has given up yet, but can't stop people wanting to sell at almost any cost.$5 million is not a lot against the value of the South Korea based plant/technology so perhaps the IFC or another investment bank will come to the rescue...
popes11
30 Nov 2015
Re: RNS Yes AIM a gamble for sure. Can't believe I sold these a few years ago at around 80p. I sould have left it at that. 0.8p now and the plant is in better shape that it was back then. Share price collapse has been brutal. Andrew Woollett has 6.2m of these shares. How can somebody so close to action get it so wrong?
HPC Follower
30 Nov 2015
Re: RNS Hoegh Capital Partners are probably still selling their entire holding but can't have many left to sell now.The two delayed "buys" above a million today are likely to be their sells coming through at an average below the then lower asking price. Once these clear, that should be the low point ahead of final decisions on the placement and share offer needed.
Ripley94
30 Nov 2015
Re: RNS Well opinion changed quickly around 10.30 am down 45% to 0.75.Well done popes for cutting you loss last week.I hope your wrong long term ... AIM just a gamble.I recall top slicing in the summer and you posting id gone to soon.Topped up later.... another mistake Lol.
HPC Follower
30 Nov 2015
Re: RNS Looks like the market, and perhaps at least one of the Major Shareholders, doesn't like the deal with Korea Zinc... and even I'm not going to throw in more money in at this stage.I can only assume that Andrew has agreed this because he has someone willing, in the wings, to come up with most of the $5 million at a relatively low ZOX SP for the company to survive... looking very bleak right now despite what I thought was a reasonably good offer from Korea Zinc.
popes11
30 Nov 2015
Re: RNS $5m needed before 31st December to keep the doors open and a further $20m for extra plant. Not sure there will be a rush to provide the $20m.
HPC Follower
30 Nov 2015
RNS This looks to be good news for several reasons...a) improved terms with the re-payment rate allowed to vary with the zinc priceb) money needed lowered to $5 million (instead of $6.5)c) permission for 50% of the zinc product to be processed into zinc oxide worth double... $20 million needed for the extra plant but a very high NPV to enable bank/project finance I would have thought.This may be enough to halt the sellers for a while at least pending the general meeting about to be arranged.I personally think, if the plant is no fixed completed through removal of the heat exchangers, most shareholders will now vote in favour of keeping the plant providing the Placing Plant is not too dilutive (i.e. is around 4 to 5p a share in my mind, ideally 6p c/w closing price of 6.625p on 24//22 ahead of the placing announcement).ZOX is now a Weak Buy in my mind at today's price, although the risks remain very high.Korea Zinc seem to have been quite reasonable/supportive in the current circumstances.
Ripley94
29 Nov 2015
Re: Majedie asset & Zac Mir I have seen Majedia now hold 5.67 % i had seen 10% in July. Can not see when they reduced.
HPC Follower
28 Nov 2015
Re: Majedie asset & Zac Mir There is no evidence yet, in the way of RNS releases, that any major ZOX shareholders have sold off their holding except Hoegh Capital Partners who still have 7 million shares to sell if they want to clear the whole lot.If the price of zinc went back to $2,200 a tonne or higher, 24p a ZOX share would be a realistic target again subject to the scale of any dilution through new equity releases. The Placing Price is all important here...
Ripley94
28 Nov 2015
Majedie asset & Zac Mir Zac Mir last chart said 24p in July hes always been bullish.Have Majedie asset Management reduced also big bulls.
