Zanaga Iron Ore (Zioc:Ln) Update – 27-06-2013

Zanaga Iron Ore

Buy into weakness starting at 11p

Firstly I have to hold my hands up on Zanaga as i offered up a speculative buy at 17p and although my belief in the company has not really changed clearly sentiment towards Zanaga and the small cap listing has.

Iron ore has retreated somewhat (Although not unexpected) and the merger between Xstrarta and Glencore has left some questions to be asked, This coupled with black rock selling down its position in Zanaga has saturated the positives listed here:

· Current cash position year end 2012 as announced today is $40m or £26.3m
· Market Cap £30m
· Shares in issue 278.777m
· 72.89% of shares in issue not held in public hands (End Jan 2013)
· Net assets £144m

Full piece here: http://docslaymanschatter.blogspot.co.uk/2013/06/zanaga-iron-ore-ziocln-update-27-06-2013.html

http://zanagairon.com/

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