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Ironveld Share Discussion Threads
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|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.|
|From past RNSs I think the plan was that construction would start almost immediately after financial closure (or as soon as possible) with commissioning about a year later and production to start the following quarter after commissioning. That's fairly rough, but gives and idea of timeline. I'm sure that will be clarified when they get the lease signed and get financial closure.|
|Land lease will be done and dusted in the next couple of weeks I would imagine and that should then be the final piece in the jigsaw enabling the funding to be agreed. Have you seen the Vanadium price recently? - the quicker construction starts the better with the business model outlined and a rerating of the shares from these all time low levels will take place. 9 months of construction I think was being mooted following by a few months of commissioning. Maybe someone will correct me if I am wrong on this.|
|They really need to get the land lease signed before they can move ahead with anything else.|
|Well that was exciting: from 4p (bid) to 5p (bid) and back again.|
|Or maybe not :-/|
|Looks like it.|
|Something's stirring.....usual insider tip-off perhaps|
|Perhaps the DMR is the problem, and the cause of the ongoing delays.
|Not at all, GC doesn't work that way.............|
|Watching these for sometime and just considering to buy in as production approaches but let down by delays which also dilute existing holders
The Project remains on track to commence production of HPI, vanadium and titanium slag by-products in 2016.
Exaggerated forecasts really gets on my wick... and then they will reward themselves even though promised targets and timelines were missed
You cannot trust any moments made in black and white anymore|
|Hi Annie, no it was part of the QA at the end of the turner pope presentation recently.|
|Thanks for that Tommy. I always get concerned when govt. departments have to be involved in getting anything done!|
|I believe the proposed smelter is going to be built on land that is half owed by one government department and the other is owed by another government dept. They couldn't agree on who would sign Ironvelds lease. They have now agreed that both will sign, so only a matter of time!Giles Clarke confirmed this at a recent presentation.|
|Looking back over the RNSs from 30th March to 7th December, I'm a bit concerned about the delay in Financial Closure (originally stated as Q2 2016, now stated as expected during 2017) and the ongoing delay in obtaining the lease, which has been stated as "shortly" for quite a long time now. Does anyone have any views on these issues? Or any words of comfort, perhaps?|
|Yes, I'm sure it was something do with the Panama papers.|
|tommy: Someone on the AMER thread said michinoko was being wound up or something. Shares sold or transferred elsewhere. Can't remember.|
|while we are waiting:
|Rest assured Ladeside, not one use of imminent, watch out for during though.
Financial closure is expected during 2017
-- Construction of the 15MW smelter expected to commence immediately on financial closure
RNS March 2016:-
Financial closure is expected to be in Q2 2016
-- Construction of the 15MW smelter expected to commence immediately on financial closure|
|The only strange one for me (and it has been mentioned by others), is that the normal MO of GC is to keep these things under his hat as it were and only tip off friends and family. I don't really know if it should be perceived as a positive or negative that he's touting both Iron and Kenv around the city ??
Time will tell I suppose, so long as it's sooner rather than "imminently"...........|