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Ironveld Share Discussion Threads
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|Thanks for that post vatnabrekk on brrmedia much appreciated|
the reverend david
|This news video about corruption in South Africa doesn't make pleasant listening, especially to anyone who is waiting on one of their govt. departments to sign a lease!
|Here's a link to brrmedia interview with Peter Cox on 10 Feb. 2017:
Sounds positive, but unfortunately no mention of signing the lease, which as far as I am aware is the main hurdle that is holding up proceedings now. Perhaps that is too politically toxic for him to mention on the air?|
|Zengas - Don't blame you for selling out.Progress is so slow hear and it's the lack of any progress updates whichIs quite normal for the current management.As I have said previously this is a very long term hold and still a very speculative investment.|
|I never was able to make any direct contact with them other than their PR outfit and I never found that satisfactory. The chairman is involved with a number of other companies I believe and I wonder if their focus is not 100% in getting whatever is causing the delay, resolved. I fail to understand how this can suffer such a long delay given that it would contribute to substantial employment and the economy there. Why can't they just say what the actual delay or sticking point is all about. I rarely invest in miners for the sole reason that it can take a lifetime to get from the drilling/proving up stage to actually establishing a working profitable mine and I thought Iron were at the final stage over a year ago. I sold out solely due to the delay to date and wondering if it could possibly still drag on for another 3 months and then it's still 10-12 months to get into production. Saying that, there could be positive news at any time. Good luck guys, i just simply want to put my capital to use elsewhere.|
|Don't blame you Zengas and all the best. I'm really bored of IRON and AMER. Hope things improve quickly.Any idea what the Ironveld management/team do while they wait for the lease?|
|Far play zengas|
|That was me selling out today and the last few days. Still a good story and I know nothing more than anyone else. Have held for well over 18 months expecting them to be in the commissioning phase by now but painfully slow progress. Simply want to free up cash and would still see this as an end of year wait if they got signed off now and started to build. Like the potential and will still keep an eye on this.|
|friars: Nothing can happen until we get the signed land lease. And if they start turning over sods before that, then someone will be in trouble!|
|Probably the consultant fees being cashed in ?|
|Someone seems to be selling in 200k blocks. One yesterday and two today :-(|
|any news on when the sod is going to be turned|
|I must say I do start to get concerned whenever we find ourselves at the mercy of govt. departments. Totally unpredictable and a law unto themselves.|
|vatnabrekkVery good post... summarising like this has put the reason for the delay into perspective ... the Co is at the mercy of the DRDLDSo frankly it is a lottery when this will be signed.It could be another year as the Co does not really know apart it will be shortly ... which could from 3-10 years I guess :-)Delays cause dilutions|
|There have been a few chunky delayed trades pulsing through over the last few days.|
|The chart is a classic 'heart monitor" pattern. Definitely shows the company is still alive, fizz or not.|
|Are we benefitting from another of GC's cos KENV defectors I wonder. Tracarta have reduced there and an ambiguous recent RNS has taken the fizz out of it at least for now.
The 'fizz' yet to happen here, I'm sure it will but I wouldn't care to guess when.|
|It was as a result of adding in the late October placing by the looks of it. Must have been over looked.|
|He did it at the start of November. Why did he take nearly three months to report it?!|
|Interesting to see that Tracarta i.e. John Wardle, CEO of Giles Clarke's other company Amerisur Resources, has upped his stake here.|
|replacement of Vanadium with Sulphur
Linked from this article
|Thanks Vatna. Very useful post.|
|I have carried out a review of past RNSs to try to get a grip on the changes to the timeline over the past 2 years. Here is a summary:
Interim Results RNS 30 March 2015:
- Construction of smelter to start mid 2015
- Commissioning to begin H1 2016 and full production in H2 2016.
Final Results RNS 23 November 2015:
- Project on track to commence production in 2016.
RNS 18 December 2015:
- Expect land lease to be concluded in January 2016.
- Expect to finalise funding package and begin construction of smelter in coming weeks.
Interim Results RNS 30 March 2016:
- Land lease being processed by Dept. of Public Works.
- Financial closure expected Q2 2016.
- Construction of smelter expected to commence immediately on Financial closure.
- Commissioning to begin in Q2 2017 and full production Q3 2017.
RNS 20 May 2016:
- Land lease being processed by Dept. of Public Works. Represents the last milestone following which the Company will be in a position to conclude the financing package and commence construction.
RNS 6 October 2016:
- Land lease agreements expected to be received shortly.
RNS 26 October 2016:
- Land lease agreements being processed by Dept. of Public Works and are expected to be received shortly.
RNS 7 December 2016:
- Land lease agreements for the 15 MW smelter are being processed by the Department of Rural Development and Land Development and are expected shortly.
- Financial closure is expected during 2017
- Construction is expected to commence immediately on Financial closure.
- The main reason for the slippage has been the delay in getting the signed land lease. Initially it seems this was expected in time to allow construction to start in mid 2015, so must now be running about 18 months behind initial expectations.
- A large part of the funding has already been agreed. Financial closure should happen very soon after getting the signed land lease.
- Construction is also expected to start shortly after getting the land lease, with commissioning about a year after that, and full production the following quarter.
So, if we can get the lease before the end of January, then we should see construction start in Q1 2017, commissioning in Q1 or Q2 2018, and full production Q2 or Q3 2018.
But, of course, all IMHO, and I could be wrong!|
|Financial closure, I assume, will be long before the end of this year and am expecting it to happen in the Spring! It was supposed to have happened last Summer based on original guidance provided by the company.|
|What we don't know at present is the Financial Closure part of your post.Hopefully Financial Closure will happen by the end of this year.This is a long term investment and considerable patience is required.Only time will tell.|