Zanaga Iron Ore Co Ltd (AIM:ZIOC) shares moved up, rising 13.8% to 8.71p, after it provided investors with an update on corporate and project workstreams linked to its Zanaga iron ore project in the Republic of Congo.
The company outlined a series of milestones scheduled for the first quarter of 2026, including efforts designed to improve the construction, operations, strategic optionality, and overall economics of the project
Meanwhile, the company said the project's value enhancement workstreams completed during 2025 are now under final board review.
Results from such programmes are expected to be announced on 6 January, it added.
“I am pleased with the significant progress we have made in advancing the Zanaga Project during 2025. We have completed our targeted project value enhancement workstreams on time and within budget,” said chief executive Martin Knauth.
"We will be providing investors with a comprehensive Project Strategy Update in February 2026, which will include an updated Project economic assessment incorporating FEED level design outcomes for the Project's recently announced DRI product and its associated process plant infrastructure."
He added: "I am also pleased with progress made with interested investment parties. As a result, we intend on securing initial offers from investors during Q1".