Share Name Share Symbol Market Type Share ISIN Share Description
Ironveld Plc LSE:IRON London Ordinary Share GB0030426455 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.25 -19.61% 1.025 4,388,824 15:11:52
Bid Price Offer Price High Price Low Price Open Price
1.00 1.05 1.275 1.025 1.275
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -0.63 -0.10 7
Last Trade Time Trade Type Trade Size Trade Price Currency
16:28:52 O 50,159 1.0499 GBX

Ironveld (IRON) Latest News (1)

More Ironveld News
Ironveld Investors    Ironveld Takeover Rumours

Ironveld (IRON) Discussions and Chat

Ironveld (IRON) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-10-22 15:28:541.0550,159526.62O
2020-10-22 15:25:371.05100,0001,049.10O
2020-10-22 15:04:401.0489,344933.56O
2020-10-22 14:36:591.04150,0001,566.00O
2020-10-22 14:33:291.01500,0005,067.50O
View all Ironveld trades in real-time

Ironveld (IRON) Top Chat Posts

Ironveld Daily Update: Ironveld Plc is listed in the Mining sector of the London Stock Exchange with ticker IRON. The last closing price for Ironveld was 1.28p.
Ironveld Plc has a 4 week average price of 0.85p and a 12 week average price of 0.83p.
The 1 year high share price is 1.50p while the 1 year low share price is currently 0.33p.
There are currently 654,990,841 shares in issue and the average daily traded volume is 5,513,708 shares. The market capitalisation of Ironveld Plc is £6,713,656.12.
talk2dubya: Not been a sell for three trading days. There cannot be too much stock at this level. If they get funding approved it’s a no brainer at this price
talk2dubya: I remember looking at this many moons ago when it was around 9p I think. I am still struggling to see how Bushveld managed to get to production and Iron is stuck where it is. The new CEO provides me with confidence that they will get to production.
underhill2: Thats fine by me . Yes we small shareholders will be diluted somewhat but there is still considerable value here when this is fully financed. I will be looking for at least a 5p share price within the next year
friars3: Ironveld Plc ("Ironveld" or the "Company") Strategic Partnership and Conditional Fundraising to raise US$3.2 million Ironveld is pleased to announce a new strategic partnership with Inclusive Investment Group ("IIG") as part of which the Company has entered into arrangements to raise potential total gross proceeds of approximately £2.7 million (US$3.2 million) (the "Fundraising"). The Fundraising comprises: · an option agreement between the Company and IIG (the "Option Agreement") pursuant to which, on grant of the Option (which is conditional), IIG can subscribe (the "Subscription") for 440,176,070 new ordinary shares in the capital of the Company (the "Subscription Shares") at a price of 0.42 pence per Subscription Share (the "Issue Price") (the "Option"); and · a term loan from IIG of US$1,000,000 (approximately £840,000) (the "Loan Facility") to be entered into on completion of the Subscription. The Loan Facility will be capable of conversion at the Issue Price. The grant of the Option and the Fundraising in general are wholly conditional on shareholder approval being granted at a general meeting of the Company (the "General Meeting") and to the Takeover Panel granting a Rule 9 Waiver*. The Company will publish a circular together with a notice to convene the General Meeting in due course. Under the terms of the Option Agreement, exercise of the Option must occur on or prior to 17 June 2020. Should these conditions not be met, then the Fundraising will not proceed. Highlights · Total fundraising package agreed of US$3.2 million (approximately £2.7 million) consisting of US$2.2 million (approximately £1.85 million) equity and US$1.0 million (approximately £840,000) loan from IIG; · IIG is an investment vehicle associated with Mcebisi Jonas and Monwabisi Twantwa in South Africa and is at the forefront of securing development for South Africa's coming wave of battery and strategic metals projects; · Following completion of the Subscription and the issue of the Salary Shares (as detailed below) IIG will own approximately 36.0 per cent. of the Company's issued ordinary share capital to become Ironveld's largest shareholder and will provide expertise and utilise its extensive African connections to secure the larger scale funding required by Ironveld to develop its near term high purity iron, vanadium and titanium project; · IIG has agreed to pay Ironveld an option fee of US$250,000 (approximately £210,000), (payable within 3 days of the date of the Option Agreement) with such funds to be deductible from the eventual Subscription proceeds. This fee is non-refundable unless the Rule 9 Waiver is not granted or the resolutions are not approved at the General Meeting, in which case the fee would be repayable in full; · The Issue Price of 0.42 pence per new ordinary share of 0.1 pence represents a discount of 17.9 per cent. compared to the 20 day VWAP of 0.5113 pence and a premium of 5.0 per cent. to the mid market price of 0.40 pence on 27 March 2020, being the last trading day prior to this announcement; · IIG has agreed to extend a loan of US$1,000,000 (approximately £840,000) to Ironveld on completion of the Subscription. The Loan Facility will attract interest at a rate of 8 per cent. per annum, will be repayable 24 months from the date of drawdown and convertible at the option of IIG at the Issue Price. Should IIG choose to convert the loan and all accrued interest at the end of the loan term (and also assuming no further shares are issued by the Company other than those included in this announcement and constant exchange rates), they will be issued with a further 233,373,349 shares, taking its holding to 46.8 per cent. of the Company's issued share capital; · Ironveld and IIG have agreed that IIG will nominate two non-executive Directors to Ironveld's Board following completion of the Fundraising. Ironveld and IIG's relationship will be governed by a relationship agreement between the two on normal commercial terms limiting the ability of IIG to dictate Ironveld's strategy and board composition; · In addition, certain Ironveld Board Directors have agreed in principle, conditional on completion of the Fundraising, to capitalise substantially all of their historic deferred salaries and fees (totalling approximately £543,000) for 129,195,548 new ordinary shares in the capital of Ironveld (the "Salary Shares") at the same Issue Price of 0.42 pence; · The 440,176,070 Subscription Shares and 129,195,548 Salary Shares (together "New Ordinary Shares") will represent approximately 46.6 per cent. of the Company's enlarged issued ordinary share capital. Martin Eales, Chief Executive Officer of Ironveld, said: "This fundraising and strategic partnership mark a significant milestone for the Company which we believe will allow us to commence unlocking value from our Project. "We are delighted to be working alongside IIG as our strategic partner and have no doubt that together we can capitalise on Ironveld's huge potential. We look forward to keeping the market updated on our progress." Giles Clarke, Chairman of Ironveld, said: "This agreement is the culmination of a great deal of hard work by Martin Eales, Peter Cox and the team. I am very grateful to them. "We are delighted to welcome IIG as a shareholder and most importantly Mcebisi Jonas and his colleagues who are immensely well equipped to transform Ironveld's fortunes and lead the development of the project." Reasons for the Fundraising and use of proceeds The Company has not yet been revenue earning and therefore requires a certain level of funding to cover essential running costs and overheads, which the Fundraising proceeds should provide for until cashflows can be successfully derived from Phase 1 of the Company's development project. The substantial investment in Ironveld by IIG represents an exciting opportunity for Ironveld to bring on board a credible and serious partner to help drive its strategy, with relationships at the highest levels of South Africa's funding institutions. The Company will look to utilise IIG's expertise in order to secure the broader financing required to bring the Company's project into development. Information on IIG IIG is a South Africa based investment group focussed on Africa. The group has interests in multiple sectors and has a particular focus on strategic metals and minerals within the region. The company has identified Ironveld as a near-production vehicle that it believes can accelerate into a leading strategic / battery metals player in the region. IIG was founded by Mcebisi Jonas, the current Chairperson of multinational mobile telecommunications group MTN, and Monwabisi Twantwa. Current trading and Prospects Ironveld expects to release its interim Financial Statements to 31 December 2019 following this announcement. There was no trading in the six months to 31 December 2019 and a normal level of operating overheads was incurred. Details of the Option Agreement Ironveld and IIG have entered into the Option Agreement which has the following key terms: · IIG has agreed to pay Ironveld an option fee of US$250,000 (approximately £210,000), (payable within 3 days of the date of the Option Agreement) with such funds to be deductible from the eventual Subscription proceeds. This fee is non-refundable unless the resolutions are not approved at the General Meeting and / or the Takeover Panel does not grant a Rule 9 Waiver in respect of the Fundraising, in which case the fee would be repayable in full; IIG will, subject to the satisfaction of certain conditions, be granted a call option pursuant to which it can compel the Company to issue the Subscription Shares. The grant of this option is conditional upon the passing of the resolutions to be proposed at the General Meeting and the Takeover Panel granting a Rule 9 Waiver in respect of the Fundraising. IIG must exercise this option on or prior to 17 June 2020; and · The grant of the option to IIG is conditional on the Takeover Panel granting a Rule 9 Waiver and on resolutions being passed by the Company's shareholders at the Company's General Meeting regarding this Rule 9 Waiver and to enable the Subscription Shares to be issued at the Issue Price, given that this is less than the nominal value of the Company's existing ordinary shares of 1 pence each. Details of the Loan Facility Ironveld and IIG have the terms of a Loan Facility which is to be entered into at completion: · Unsecured loan of US$1,000,000 (approximately £840,000) to be made by IIG to Ironveld to be drawn down in one tranche following completion of the Subscription; · The loan amount attracts interest at a rate of 8 per cent per annum and will be repayable 24 months from drawdown, extendable by mutual consent; · The Company may elect to repay some or all of the Loan early without penalty; · The loan amount will be convertible at IIG's option at the Issue Price of 0.42 pence, should IIG choose to convert the loan and accrued interest at the end of the term (assuming constant exchange rates), they would be issued with a total of 233,373,349 new ordinary shares; and · The Company will give standard representations and warranties to IIG pursuant to the Loan Facility. General Meeting and Shareholder Approval Shareholder approval will be required for the Option to come into effect and to allow any New Ordinary Shares to be issued pursuant to the Fundraising. Resolutions required at the General Meeting will include: a) a Rule 9 Waiver Resolution, in accordance with the provisions of the Takeover Code; b) by way of ordinary resolution to give the Directors authority to subdivide each existing ordinary share of 1 pence each into one ordinary share of 0.1 pence each and nine deferred shares of 0.1 pence each, with the deferred shares having the same rights and restrictions as the Company's existing deferred shares of 1 pence each; c) by way of ordinary resolution to give the Directors authority to allot the New Ordinary Shares; d) by way of special resolution to dis-apply statutory pre-emption rights in respect thereof; and e) by way of special resolution to amend Ironveld's current articles of association to include reference to the new ordinary shares, in particular detailing the rights attaching to the new ordinary shares. The Directors (representing 4.41 per cent. of the issued ordinary share capital) and Tracarta Limited (representing 12.27 per cent. of the issued share capital) have all indicated that they will support the resolutions to be put forward at the General Meeting. Settlement of Directors' Deferred fees and Salaries In view of Ironveld's constrained financial position in recent years various members of the Board have deferred a proportion of their contractual salaries and fees. In settlement of these balances certain of the Directors (other than Martin Eales who for this purpose will assume the role of Independent Director) have agreed in principle to capitalise substantially all of the outstanding balances (totalling approximately £543,000) for new ordinary shares of 0.1 pence each in the Company at the Issue Price of 0.42 pence on completion of the Fundraising. The issue of the Salary Shares to the Directors will be deemed to be related party transactions under Rule 13 of the AIM Rules and be approved in due course in accordance with the AIM Rules upon exercise of the Option. The following exchange rates have been assumed throughout this announcement, as determined by on 25 March 2020: £1.00 : US$1.19 £1.00 : ZAR 20.50 US$1.00 : ZAR 17.40
tommygriff: Lots of uses including electric vehicles In soft magnetic applications, high purity iron powder is specifically used in ignition system components, electric motor components, solenoids, and inductors. The automotive industry is undergoing rapid electrification. And demand for electrical operating systems and electric power devices has increased as they are indispensable components of EVs and hybrid electric vehicles (hEVs). Electromagnetic coils found in motors and transformers contain an iron core and a copper winding. Manufacturers are focusing on developing soft magnetic iron powder that can deliver higher AC magnetic qualities.
tommygriff: High purity iron (HPI) powder is highly sought after in an array of industries including metallurgy, food and beverage, food packaging, electronics and pharmaceuticals. Different grades of high purity iron (HPI) powder include 99.9, 99.99%, and 99.999%. According to method of production iron powder is broadly classified into reduced iron powder, atomized iron powder and others. These different grades of iron powders find applications in metallurgy industry to manufacture high-density structural parts, magnetic alloys, food packaging, food ingredient, pharmaceutical industry, coated welding electrodes, and to remove sulfur impurity from gasified fuels.
euclid5: " addition, certain Ironveld Board Directors have agreed in principle, conditional on completion of the Fundraising, to capitalise substantially all of their historic deferred salaries and fees (totalling approximately £543,000) for 129,195,548 new ordinary shares in the capital of Ironveld (the "Salary Shares") at the same Issue Price of 0.42 pence" Https://
orange1: OMG! IRON are at a year's high (or no lower than the year's high) following this announcement: Existing shareholders getting substantially diluted but good to see South African investors getting heavily involved. Mcebisi Jonas is the former Deputy Finance Minister:
moneymaker2015: Back to Ironveld though, if we get 0.7p that’s fair because that’s what the market currently values us at. Me personally, given the vast potential of the project, I’d like to think we’d do another placing to cover our costs for another 12 months and then get some decent PR going. On your comment earlier about 99 times out of 100 you’ll lose, I strongly disagree. I’ve had 4 this year alone that have made a substantial amount, 2 of which were in the last 2 weeks. I’ve already 10 bagged on EUA and this could be sold for significantly more than the current share price and I 5 bagged on INSP yesterday and have now withdrawn, but that is likely to go much higher too. The key is timing, don’t invest too early because the share price will keep dropping until it starts producing or is sold, this share being the prime example.
clarea: The problem is John it won't help the share price if the company owning said land is on its knees Sirius Minerals has a polyhalite resource of 2.66 billion tonnes according to their website but look at how the share price has collapsed. I would be over the moon with 30p they are looking to sell just to get any money back as they know the only options are to try and get a placing away at an even lower price than at present or take what they can get 2p best case we will see who is closer when it plays out good luck.
Ironveld share price data is direct from the London Stock Exchange
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