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Zanaga Iron Ore Company

17:25 on 17/11/2017

Current Price 19.79p | Bid 17.00p | Ask 17.75p | Change -11.39%

Company Overview

Zanaga Iron Ore Company Limited, a British Virgin Islands registered company, is focused on the management, development and construction of a world class iron ore project, located in the south west of the Republic of Congo (Congo Brazzaville). Zanaga owns, through its 100% owned subsidiary Jumelles Ltd, 100% of Mining Project Development Congo S.A.U. Mining Project Development Congo owns two exclusive exploration licences, each covering 500km², the Zanaga-Madzoumou Exploration Licence and the Zanaga-Bambama Exploration Licence ('Zanaga Exploration Licences'). The Company has a large scale Mineral Resource of approximately 3.34 billion tonnes at an average grade of 32.8% FeT. This is comprised of 843 million tonnes of haematitic itabirite with an average grade of 38.5% FeT and 2.49 billion tonnes of magnetite with an average grade of 30.82% Fe. This resource has been defined as a result of drilling that has taken place on only 25km of an indicated 47km strike of magnetite mineralisation. Management therefore believes that the Zanaga Project offers significant opportunity to further expand the resource base providing substantial upside potential. The Company is focused on developing the resource base at the Zanaga Project, with annual output targeted to be 45Mtpa of iron ore concentrate once full capacity is reached. Based on metallurgical test work to date, the Company is targeting production of two high quality products, namely: a 65% Fe sinter product and a 67% Fe concentrate product, both with low deleterious elements. It is expected that the Company's products will be transported via a 350km railway line the Company plans to construct and then exported from a new port facility the Company plans to build near Pointe Noire. The Company has reached an advanced stage of exploration with a prefeasibility study ('PFS') on the Zanaga Project expected to be finalised by the end of Q1 2011. Following completion of the PFS, the Company aims to commence a bankable study ('FS') to further define the technical and economic viability of the Zanaga Project to international bankable standards, before moving towards construction and production.

Stock Details

ISIN VGG9888M1023
Shares in Issue 278,776,530
Market cap £ 7.67m
Sector Industrial Metals
Indices FTSE AIM All-Share Index

Financial Highlights Year Ended 31/12/2013

Turnover $0.00 million
Operating Profit $-6.79 million
Dividend Yield 0.00
Dividend Per Share 0.00
Dividend Cover 0.00
P/E Ratio -0.43
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Price Summary

Mid Price ? 17.50p
Bid Price ? 17.00p
Ask Price ? 17.75p
Volume ? 9787255
Change Today -2.25p
% Change Today -11.39%
Open 20.50p
Previous Close 17.50p
Intraday High 21.38p
Intraday Low 17.11p
52 Week High 4.25p
52 Week Low 1.25p

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Broker Consensus

The above information represents a selection of the views and target prices published in the last 120 days by analysts in individual stocks. It is subject to change without notice and may not necessarily be the view held by Redmayne-Bentley.

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