Oct 23rd 2013 - Edison Investment Research today published a report on Zanaga Iron Ore (ZIOC.L, LSE:ZIOC, LON:ZIOC) entitled "Resetting Expectations". In summary, the report says:
Glencore Xstrata and Zanaga Iron Ore Company (ZIOC) have agreed to revise the scope of the Zanaga iron ore project (ZIOP), which will now be advanced on a staged development basis. The lower capex requirement and higher capital efficiency have substantially reduced the project's execution risk. The feasibility study, due in late Q114, will now focus on a 12Mtpa pellet feed project, also incorporating an early-stage 1-2Mtpa DSO operation (total 14Mtpa), which will provide near-term cash flow. As the iron ore fundamentals remain strong, ZIOC shares should be supported by the upcoming FS results and the expectations of the investment decision.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »