Stock data
| Market cap. | £274.1m |
| Last close | 97.75p |
| High / Low (52 weeks) | 176.0p / 74.5p |
| Stock market listing | LSE |
| Forecast net cash (US$m) | 46.5 |
| Forecast gearing ratio (%) | N/A |
| Team | Resources - Mining |
| Sector | Mining |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (4.17) | (2.25) | (34.83) |
| Relative * | 0.54 | 5.78 | (28.38) |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (US$m) | EBITDA (US$m) | PBT (US$m) | EPS (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2009A | 0.0 | (1.6) | (1.6) | (1.19) | N/A | 1492.7 |
| 2010A | 0.0 | (13.9) | (13.9) | (5.38) | N/A | N/A |
| 2011E | 0.0 | (3.7) | (3.5) | (1.28) | N/A | N/A |
| 2012E | 0.0 | (3.5) | (3.3) | (1.19) | N/A | N/A |
Last updated on 17/04/2012
Latest research
High-quality iron ore play
Outlook | Mining | 12/12/2011
Investment summary
Zanaga Iron Ore owns a 50% less one share interest in the Zanaga iron ore project (ZIOP) in the Congo (Brazzaville). ZIOP boasts 4.3bn tonnes of JORC resource and the feasibility study (FS) being undertaken by Xstrata, which gained full management control in Q111. While the FS is underway, two development options – a 45mt railway and a 30mt slurry pipeline – were identified, with capex estimates ranging from US$6.1bn to US$7.5bn. The project has capital intensity in line with its peers and is expected to deliver a premium product similar to Brazilian fines, with an Fe grade of at least 65% by 2017. With an estimated FOB cash cost below the US$22/t level (including contingency), ZIOP will be positioned in the first quartile of the global cash cost curve.
Last updated on 23/04/2012
Industry outlook
In the short term, we expect iron ore price to remain capped by the weak macro and steel industry environment.
Last updated on 23/04/2012
Key management
| Clifford Elphick, Chairman |
| Gary Vallerius, CFO |
Company address
| 2nd Floor Wickhams Cay II, PO Box 2221 Road Town Tortola Virgin Islands (British) +44 (0)20 7399 1105 View website |
