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SULA Sula Iron

0.06
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Sula Iron LSE:SULA London Ordinary Share GB00B6Y3CV16 ORD 0.001P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.06 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
0.055 0.065
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.06 GBX

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Posted at 02/1/2018 16:12 by escapetohome
An unacceptable share price performance
Posted at 30/12/2017 19:58 by temmujin
what i like about this company is directors bought at much higher prices

Trade Date Action Notifier Price Currency Amount Holding
18-Nov-16 Placing Trade Notifier Information for Sula Iron & Gold Roger Murphy 0.22 GBX 15,714,286 15714286
18-Nov-16 Placing Trade Notifier Information for Sula Iron & Gold John (Iain) Macpherson 0.22 GBX 38,269,748 38269748
18-Nov-16 Placing Trade Notifier Information for Sula Iron & Gold Howard Tennant Baker 0.22 GBX 7,715,876 14507542
View more Sula Iron & Gold directors dealings >>

so i expect this to 3 or 4 bag soon
Posted at 15/12/2017 15:23 by atlantic57
The share price performance has been lack lustre since the announcements.

Let us look at the price action after the shares are placed i suspect they will settle at near the placing price.


They will need some solid news to push the price up
Posted at 11/12/2017 15:28 by cnrns4
escapetohome, The problem here isn't the potential imo, but lack of confidence in the market due to past events. Potential in gold/iron ore/cobalt is there but the trick is knowing how to release it, 2017 has been a good year on exploration front ( gold ), 000's of mtrs were drilled and some good results were recovered albeit they were spaced out. Key for me is the upcoming SRK report, that will give us figures / rough ideas etc. On iron ore front that will always be an non-core asset which has value, sooner shangdon wake up and buy us out on that front the better for us. Cobalt is something which most havent heard of and has its value, check early players and see where they are right now, Key again for us here is we have picked that licence up very very cheaply only $100k.

As i say the problem for sula is not as if they are not trying they are, but its lack of confidence in the market mainly due to dilution after dilution. I would give sula bod 10/10 for trying in 2017 on exploration front and have no doubt they will keep doing the same in future. One of the biggest obstacles for sula was under 0.10 they couldn't raise ( that could have put them out of business ) but after juggling with the law/rules of aim they have pulled it of albeit at heavy discount ( which i wasnt in favour of ) under current market condition i think they did a good job in pulling it of, yes they could have waited another few weeks/months for shareprice to pick up before doing the placing, maybe that risk wasnt worth taking for mainly 2 reasons.

1. Market made an offer they couldnt refuse, it was do or die situtation, they had no choice but to take it up right away, we all know these city fat boys always line up their own pockets.
2. The opportunity came to get into cobalt and they had to make a quick and firm decision, maybe they didnt have long to come up with the funds, and the opportunity was too good to turn away especially at $100k for 70% stake.


Like i say the biggest risk was sula going down and out, now that has been removed, i look forward to 2018 and see what plans the bod have, they have banged on about how keen they are in creating value for shareholders, well now after the raise this is their chance maybe last chance. At slightest sign of recovery/re-rate/confidence market will be all over sula. As we know right now sula is a dead stock imo not for long. Lets wait and see how things pan out, 2018 could be the year that put sula on the map again.
Posted at 10/12/2017 12:47 by escapetohome
Surely this will rise on Monday !

New strategy!
Fully funded!
GOLD, IRON, COBALT, AND POTENTIAL FOR OTHER RARE EARTHS!
New Focus
Previous management ejected!
All time low share price!
Jorc compliant hinted at by previous management, to be expected?

Good luck with 0.05, i will buy again at that price.

BUY BUY BUY , yes the same to our old friend THE CRYPT.
Posted at 08/12/2017 17:57 by temmujin
Acquisition and Proposed Placing and Subscription
Fri, 8th Dec 2017 17:06
RNS Number : 8809Y
Sula Iron & Gold PLC
08 December 2017
Â
For immediate release

Sula Iron & Gold plc / Index: AIM / Epic: SULA / Sector: Natural Resources

Â

8 December 2017

Sula Iron & Gold plc

("Sula" or the "Company")

Â

Â

Proposed placing and subscription to raise approximately £1,750,000

Settlement and termination of the Riverfort Facility and associated buy-back of ordinary shares from D-Beta

Acquisition of a controlling interest in the Cobalt Licence

Change of name

Proposed Share Capital Reorganisation and amendments to the Articles of Association

and

Notice of General Meeting

Introduction

The Company today announces that it has acquired a controlling interest in a Cobalt Licence and has conditionally raised £1,750,000 (before expenses), through the placing of 3,000,000,000 New Ordinary Shares with certain new and existing investors and a subscription for 500,000,000 New Ordinary Shares with a single investor all at a price of 0.05 pence per share. The Fundraising, which has been arranged by share price Angel, is conditional, inter alia, upon Shareholders' approval of each of the Resolutions and Admission.

The net proceeds of the Fundraising will be used:

1.  to capitalise a new company to be incorporated in the DRC which will be 70% owned by Sula and 30% by the Vendor which will hold the Cobalt Licence;

2.  to provide working capital to commence systematic geological exploration work under the Cobalt Licence, so commencing the process leading to the definition of an initial JORC-compliant cobalt and copper resource;

3.  to buy-back the D-Beta New Shares;

4.  to provide working capital to Blue Horizon, the Company's subsidiary which carries out its gold and iron exploration activities in Sierra Leone;

5.  to assess other cobalt-copper opportunities in DRC; and

6.  for general working capital purposes.

Â

A Circular containing further details of, inter alia, the Fundraising and the Acquisition, and including a notice convening the General Meeting which will be held at Michelmores LLP, 12th Floor, 6 New Street Square, London EC4A 3BF on 27 December 2017 at 10.00 a.m., together with a form of proxy for use at the General Meeting, is expected to be despatched to Shareholders today and will thereafter be available on the Company's website at www.sulaironandgold.com.

Â

Roger Murphy, CEO of the Company, commented:

"We are very excited to announce this significant addition to the Company's strategy and exploration activities. We are bullish on the outlook for cobalt and the other battery metals and believe that the creation of African Battery Metals plc will provide UK equity investors with exposure to cobalt, which some analysts see as the battery metal with the tightest supply/demand fundamentals. The complementary skills of our Board and the experience of our Technical Advisors, Madini, of operating within the DRC provides us with, I believe, an advantage in operating in the region, where most of the world's cobalt is found. The addition of cobalt to our existing gold assets in Sierra Leone, provides important diversification to our exploration activities. We remain committed to our Ferensola Gold Project and to maintaining and valorising it through a joint venture or farm-out, as previously announced."
Posted at 05/12/2017 21:32 by escapetohome
Gold miner's shares jump 2,400pc after it switches to Bitcoin( source daily telegraph)
The digital currency Bitcoin is often hailed by its supporters as a new version of gold, but the claim has been taken literally by one company, with spectacular results.

Natural Resource Holdings, a small Israeli outfit that has invested in a group of precious metals mines, has seen its share price jump from 105 shekels (£22.40) to 2,615 shekels - a 2,400pc rise - since it announced it was moving into cryptocurrencies.

In October, the company announced it was switching to working on blockchain - the database technology behind Bitcoin - and on Sunday it confirmed it is planning to buy a 75pc stake in Bitfarms, a Canadian company that "mines" cryptocurrency.
Posted at 29/11/2017 11:17 by failedqs
Share price cratering today - looking forward to that big announcement Temmujin, that will be most welcome.
Posted at 23/11/2017 21:54 by deltalo
Tem , yes but when the Director resigns it doesn't leave much confidence for the share holders. Most of the time, when a Director resigns there in dire straits and need bailing out.Who will that be I wonder. I'll wait until after the funding at a considerable discount to the current share price.
Posted at 18/9/2017 08:50 by atlantic57
Tem I think you are going to be dissapointed.

1 with results due imminently the shares are dead in the water not a good sign.

2 The communications from the Company have to date been at a level that serious investor would struggle to interpret.

The iron ore is worthless unless they can sell the concept of extracting it to a company nearby who have the infrastructure to move it out.I Doubt Sula can build a commercial mine with 700 000 ounces of iron ore.


Ditto for gold, yes there is gold in this area.However the share price plummet is telling us that once again the cost of building a mine will not be commercial.
Sula Iron share price data is direct from the London Stock Exchange

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