|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"...........|
|I saw a graphic, callumross, but it had no dates on it so it was meaningless to me and I think I've seen the same graphic before, probably in Aug 2015:)
I still think we're getting closer or GC wouldn't be presenting, just a bit cynical.|
|Actually there is a new timelines graphic on the presentation!|
|Nope and haven't seen any so far, did notice a presentation on website tagged November 2016 but actually just a tweak of Aug 2015 and no time-lines not that they mean much with GC. I'd assume that's what he used last night.
I expect we'll hear final funding arrangements 'imminently'.|
|Anyone have any feedback from last night ??|
|callum - ditto. But GC's definition of price sensitive info is not the same as mine. We'll see. If he can attract new money here, all well and good.|
|Might generate interest in this share which I seem to have held forever but they have already stated that no market sensitive information will be disclosed.|
|So, GC will be addressing the red trouser brigade tonight. Anyone here going? Can he do a KENV with his powerpoint presentation?|
|Could be up to 7 months before full funding completed.
Extract from RNS of 26/10/16:
"The Company intends to use the net proceeds of the Firm Placing and Conditional Placing for the Company's funding requirements up until 30 June 2017,
BY WHICH TIME THE DIRECTORS EXPECT TO HAVE COMPLETED THE FULL FUNDING OF THE PROJECT"
...............hope I live long enough to see this through !|
|Can't rule out another placing, however I think the aim is to get the share price and liquidity back up ahead of concluding the main debt and equity financing packages. I hope that is the case. Conclusion of those packages before Christmas would be a nice present for those of us who have been waiting far too long for it to happen.
Unfortunately I can't attend. I hope there is someone who can go and report back. No doubt it will be videoed but you can't really gauge who well or otherwise the message was received and who by unless someone goes in person.|
|Looking at Turner Pope:
"We are focussed on smaller and AIM traded companies, and act as broker, joint broker or PLACING AGENT to such corporate clients."
W Resources, followed by placing by Turner Pope
Rose Petroleum followed by placing by Turner Pope
Union Jack Oil followed by placing (probably by Turner Pope)
I sense a pattern, but I have absolutely no clue what GC is up too. I find it difficult to believe he'd put business Turner Popes way for a substantial cash raise with PI's. It doesn't feel very GC-like, nor does it look very Turner Pope like (£1 million placings are splashed on their home screen). Then again, they've just done a placing so why would they require further piddling amounts for ongoing operations?
All very odd, but I guess we'll find out soon enough.|
|Giles presenting, he's doing KENV a couple of days earlier, wonder why Turner Pope are hosting and if this signals final funding arrangements not too far off:-
Ironveld plc, the owner of a High Purity Iron ("HPI"), Vanadium and Titanium project located on the Northern Limb of the Bushveld Complex in Limpopo Province, South Africa announces that Giles Clarke, Chairman, will be presenting at an investor evening hosted by Turner Pope Investments Ltd. The event will be held on Thursday 1 December 2016 in the City of London, EC4 and will commence at 5pm.
To register your interest, please contact email@example.com or call 020 3621 4120|
|A few buying under Giles's price, not likely to come to grief doing that. It was possible to do it for a while at KENV but it didn't last long. Imminent bounce always on the cards with GC:)
Can't help with prices but the stuff we'll be selling seems to stay constant around $1000/t and has for years.|
|Where can i get spot and forward prices for Vanadium, HPI and Titanium?|
|Recent chart history would suggest imminent bounce due. ...Just don't know when that might be !|
|I should read RNS's more thoroughly:
2.1. Placing Warrants
One Placing Warrant will be issued to each Placee in respect of each Placing Share under both the Firm Placing and the Conditional Placing. In total 40,000,003 Placing Warrants will be issued, 28,844,448 pursuant to the Firm Placing and 11,155,555 pursuant to the Conditional Placing. The Placing Warrants are exercisable at 6.75 pence at any time during the 12 months from the First Admission or Second Admission, as applicable.
So once SVS have dumped their equity, they have a free ride with the warrants. Junior mining stocks aren't typically my thing and apparently this is fairly standard practice among them (didn't happen on KENV). The theoretical price of the warrant as of now is about 0.75p, so you can knock that off the placing price to see the real price paid for the shares.
There were no such warrants on the last placing done at 6.5p.
The good news of course is the exercise value of 6.75p, make of all that what you will.
Any forward looking calculations should be using (I believe) a fully diluted share count of 410.5 million if you believe there is a return to be had here in the next 12 months. If you don't then further dilution for operational costs seems a dead cert (Approx £1 million of the placing money will be used to pay off Sylvania debt, based on the last results).
Interested in views?
For myself, I'm firmly on the sidelines until they announce the placing to fund the project, feeling pretty disillusioned.|
|Not back in yet, but that was my thought also.|
|Hope our price similarly bounces !|
|Clearing the SVS Securities stock?
Much like what happened with KENV would be my guess.|
|There seems to be a significant amount of buying. No movement in price though.|
I hadn't realised that the original plan was based on pig iron production, that makes complete sense and is obvious when you think about it.
I agree, I suspect expansion plans will resurface once we're up and running.
South Africa imports all of its HPI, I doubt our little smelter will put a dent in that market, plenty to play for :-)
I say we/our despite not owning any shares in the company at the moment.|
|al .. yes, been around for a long time and remember the plans for the big smelters .. wish I had copied the stuff from the website before it disappeared ... wonder if a more modest plan could materialise in due course, i.e. simply a doubling of smelting capacity by installing a second identical to the first ... that could be financed from cash flow once the principal on the main loan is repaid, which shouldn't be too far down the road if all goes according to plan. I'm assuming that a second small smelter would produce for HPI, think the HPI market is sizeable enough ... whereas the original large smelter plans were for pig ("pre HPI"), i.e. when pig prices were high ...|
The clauses below apply to this recommendation:
1. SVS Securities Plc (SVS) is acting as broker, market maker or placing agent.
2. SVS has previously acted for the Company as broker, market maker or placing agent within the last 12 months.
3. SVS holds 0.5% or more of the Company’s total issued share capital.
4. SVS holds 5% or more of the Company’s total issued share capital.
5. SVS and or its affiliates, holds options or warrants in the Company which on conversion would represent 0.5% or more of the
Company’s total issued share capital.
6. The authoring analyst or any associate of the authoring analyst has a long or short position in the Company’s securities held
directly, or through derivatives.
7. A director, officer, employee or agent of SVS Securities Plc is an officer, director, partner, employee or agent of the Company|