Zanaga Iron Ore Co. Ltd
ZIOC · AIM · Basic Resources · mcap £21m · 2.2p 1 open situation →
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Sale process / strategic review
Strategic review and RAM investment
RAM deal delayed; strategic review planned
RAM's proposed strategic equity investment in the Zanaga Project was first announced on 10 Feb 2026. On 10 Nov 2026 the Board said it is unlikely to conclude by 30 Nov 2026, and RAM's exclusivity expired on 31 Jul 2026. The Company is exploring alternative financing and plans to appoint a financial adviser for a strategic review that includes the RAM deal.
- Counterparty
- Red Arc Minerals LLC (RAM), proposed strategic equity investment in the Zanaga Project, first announced 10 Feb 2026 10 Nov 2026 ↗
- Timetable
- Unlikely to conclude by 30 Nov 2026, the end of the extended period set on 31 Jul 2026 10 Nov 2026 ↗
- Exclusivity
- RAM's exclusivity expired on 31 July 2026; talks continue in good faith 10 Nov 2026 ↗
- RAM financing
- RAM has shown evidence of significant progress towards strategic financing of up to US$500 million 10 Nov 2026 ↗
- Next milestone
- Appointment of a financial adviser to run a strategic review of all options 10 Nov 2026 ↗
- Alternatives
- Company is exploring alternative financing solutions 10 Nov 2026 ↗
Next: Appoint financial adviser to run strategic review
- 10 Nov 2026 RAM deal delayed; strategic review planned
Closed · 1
Company filings. Not investment advice.