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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ironveld Plc | IRON | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.0675 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.0675 | 0.0675 | 0.0675 | 0.0675 | 0.0675 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 04/4/2024 17:40 by ladeside Rec0very Stock - 07 Jun 2013 - 20:17:40 - 404 of 8216 Ironveld plc - IRONNice steady progress. There are some profit takers as one would expect, but I expect the rise to continue for a while yet, particularly if they get some more press attention over the weekend. We are in completely uncharted territory, there will be down days as well as up days, but I am expecting this to settle around the 18p mark in the short term. Rec0very Stock - 05 Jun 2013 - 19:45:44 - 397 of 8216 Ironveld plc - IRON Well worth waiting for. I make that an NPV10 of around £2.50 per share with upside to come from the Titanium. It is still early days and there is $1Bn of capital to raise, but not all at once and the 12 MW smelter will generate some of it. But even applying a risk factor of 90% the share price should be around 25p. The rocket launch has only just begun, strap in and enjoy the ride. Rec0very Stock - 24 May 2013 - 18:06:50 - 390 of 8216 Ironveld plc - IRON I do not believe 6 weeks is a hard rule, but there does need to be a respectable period. Broke through the placing price today but dropped back at the close. I think their could well be an opportunity to get in below 6p but I would not bank on getting in much lower than that. Rec0very Stock - 23 May 2013 - 18:29:33 - 387 of 8216 Ironveld plc - IRON The PFS was due "early in the new year" it has been due out "shortly" a few times since and most recently it is due out in Q2. If it was not for the great track record of the management in delivering what counts, I would have taken my money and run. The recent director buying may well be an indication that it still has a little while before it comes out as there could be accusations about insider trading if it followed hot on the heels of a PDMR buy. Ultimately is does not matter when it comes as long as it is as good as we have been led to believe when it does come - NPV between 80p - £1 a share. This does not mean the shares instantly become worth that, just what they could be worth if everything goes to plan. Some adjustment needs to be made based on the risks of things not going to plan. In the meantime the resistance from the Placing price is holding Rec0very Stock - 22 May 2013 - 19:33:09 - 380 of 8216 Ironveld plc - IRON Hit a bit of resistance today at the placing price. If it breaks through tomorrow there is no knowing where it will stop. If not it may pull back below 6p, but that will probably be the last chance to get in before the PFS comes out. Rec0very Stock - 21 May 2013 - 19:05:19 - 378 of 8216 Ironveld plc - IRON I did say you might not get much of a pull back. I think, when the PFS does come out, provided it confirms the Shore Capital NPV figures, we could see 12 - 18p fairly rapidly. |
Posted at 03/4/2024 21:29 by ladeside A definitive Feasibility Study published in April 2014 confirms the project's viability to deliver an exceptionally high-grade iron product (99.5% Fe) called High Purity Iron which commands a premium in the market place. The shallow mineralised resource of 56.4 million tonnes of ore grading 1.12% V205 is approximately twice the grade of other Vanadium resources that are currently being mined and processed within the Bushveld Complex. Ironveld plc is an exploration and development company incorporated in England and Wales and listed on the AIM of the London Stock Exchange. |
Posted at 28/3/2024 14:14 by al101uk So GC turned out to be Giles Clarke all along.Sing potential good news from the rooftops, keep quiet about actual bad news for as long as possible and then just relase an RNS that assumes that everyone knew the bad news all along. Platanillo and the pipeline went exactly that way with Amerisur. PI's filled in the blanks with excuses and things kept trucking along. In terms of the companies future, nothing has really changed since the last RNS. An interim fund raise needed to tide the company over until their potential financiers make a decision. The costs are probably higher than shareholders have previously been made aware of because Ironvelds previous CEO was incompetent. The assets given away to secure Ironvelds future will likely therefore be greater. Not sure how this plays out in a fire sale. The upgraded smelter will likely go back to the creditors, the mining licenses will likely go on the cheap or be picked up from the administrators if there aren't multiple interested parties. There wasn't huge interest last time, so... I think the book value is a red herring for a number of reasons, the primary one being that it is not a risk adjusted valuation of the assets. It's more closely related to the amount of money the company have pumped in to their development in capex costs. A chunk of that will be the smelter refit, another chunk was wasted. In desperate times a good chunk of what may be left will be heavily discounted. I don't think things would have been any better with RJ and the stories not told yet. Lets see what JW can do. As for not investing in AIM... welcome to the club Ladeside :-) Although I'd refine that to AIM listed companies that are not able to provably sustain themselves. There are AIM listed profitable dividend paying companies. |
Posted at 24/2/2024 20:56 by bigwavedave FWIW, Jennings said this (yesterday):"Ref Ironveld.Fantastic news this morn on both fronts. Departure of M Eales is unequivocal good news - his tenure (as with Rainbow Rare Earths) has destroyed monumental value (in unison with Giles Clarke who does sadly still hang on in there). The funding term sheet looks to be last step to finally extracting the potentially gargantuan value out of the company's resources in Limpopo. Hopefully this is the turning point & continued packaging up for sale at £50-60m in 18 months time (10 times current value). What people forget on Ironveld #IRON is that Eales had no skin in the game frankly - de minimis shareholding and was prepared to dilute with abandon. John Wardle DOES have serious skin in the game with over half a billion shares & we calculate an average of around 0.50 - 0.60p - What this means is he has a vested interest to preserve/rescue equity as opposed to his job. The news this morning cannot be more important to us as 2nd largest shldr. We just hope he sees further clarity and shorns the Co of the Clarke legacy too and soon. Just a crying shame the City enabled the decimation of value last 19 months when we tried to oust him and Eales. We suspect the value decimation would not have been anywhere near this magnitude. |
Posted at 07/2/2024 17:23 by ladeside funding for DMS beneficiation plant6th February 2024 By: Tasneem Bulbulia Senior Contributing Editor Online JSE-listed Sable Exploration and Mining subsidiary Sable Platinum Holdings (SPH) and IPace on February 2 entered into a term sheet for additional funding of R1-million payable by SPH for a dense medium separation (DMS) beneficiation plant. This follows SPH’s announcement in September that it had entered into an agreement with IPace for the establishment of an unincorporated joint venture (UJV) to conduct the business of commissioning, operating and maintaining a DMS beneficiation plant and to sell the product. This additional funding will be added to the R15-million paid by SPH in terms of the main agreement. For providing the additional funding, IPace has agreed to transfer 2.5% of the UJV to SPH. SPH has granted IPace an option to buy back the 2.5% shares in the UJV at R1.3-million. The option will expire on October 31. IPace has committed to fund the balance of the operational and capital costs to complete the DMS beneficiation plant and to begin production on March 15. In September last year, Mining Weekly reported that ground works and civil works were said to be progressing well for the installation of a DMS magnetite plant in South Africa’s Bushveld Complex. IPace is a JV that Ironveld Mining owns equally with Pace SA. Ironveld, which holds mining rights over 28 km of outcropping Bushveld magnetite with a compliant ore resource of 56-million tons of ore, last year agreed to acquire and refurbish a Rustenburg smelter to process its magnetite ore into high-purity iron, titanium slag and vanadium slag. Ironveld and Pace SA agreed funding and operational structure amendments to the DMS magnetite operation with a subsidiary of Sable Exploration and Mining. |
Posted at 05/2/2024 13:44 by rec0very stock It could be worse than that, as it could be a death spiral alternative financing.Reputable conventional financiers require a BFS before loaning on such projects. IRON has clearly demonstrated that HPI mining and processing BURNS cash (the latest funding is just another indicator of how much cash is being burned, even with the operation shut down to preserve cash). There is absolutely no evidence that HPIP will generate cash (the point of a BFS would be to provide credible evidence to lenders that sufficient cash will be generated to service the debt). IRON is already carrying debt secured on the smelter - potentially its only saleable asset, as a licence that cannot be mined to generate cash is worthless. As far as JW putting more of his own / his company's money in is concerned, what choice does he have? If IRON runs out of cash (it has commitments now it cannot get out of) then it goes bust and he loses everything he has put in. The good news then is that JW seems likely to continue to put small dollops of cash in to keep the lights on, the bad news is at some point he may feel he has no option but to take an alternative finance deal to get back what he can. |
Posted at 21/12/2023 15:22 by ladeside Funding transaction with South African financial institutionAs of the approval of yesterday’s FY2022/23 Financial Statements, Ironveld had not signed definitive documents,but the Board has expressed reasonable expectations that a significant funding transaction with a South African financial institution, which has been in process for a number of months, will be concluded early in 2024. The size of this facility, which is likely to be based on competitive interest rates/repayment terms, has not been disclosed, but is likely to be sufficient to cover all planned capital expenditure (including new equipment to produce HPIP) and other costs/facilitation associated with the ramp-up, together with a modest reserve to cope with any further unexpected events. This funding is expected to be sufficient to transition the Group’s substantial, shallow magnetite ore resource (56.4million tonnes of grading 1.12% V205 which is approximately twice the grade of other Vanadium resources currently being mined/processed within the highly productive Bushveld Complex) and Rustenburg smelter facility, into one capable of producing high volumes of value-added metal products, specifically high purity iron (‘HPI’), high purity iron powders (‘HPIP’) Ironveld is expected to become cash generative within its first year of volume production. Recognising the opportunity for significant future expansion, the Board has already agreed a three-phase expansion plan that utilises free cash flow to fund development of a materially expanded smelter operation. In the short-to-medium-term Beyond this, the Group’s longer-term objective, which would be supported by a full DFS,is to add as many as four 75 MW smelters also on the mine site, which could enable it to become one of the world’s larger international HPI/HPIP producers, in competition with existing market leaders that include Hoeganas, GKN, Kobelco, RTMP and JFE Steel. |
Posted at 04/9/2023 18:24 by al101uk Hi All,Not been around for a while, new hobby distracting me from investing and with the markets as they are there's not a lot of pleasure to be had sitting and watching the carnage unfold. I'm primarily in dividend paying companies, so finding it all quite easy to ignore for a while. Comparing the new RNS to the old one is interesting: This: All initial capital and establishment costs of approximately ZAR 35 million (£1.65 million) to be funded by Ironveld's JV partner, Pace SA (Pty) Limited. Maximum design capacity of beneficiation plant approximately 60 tonnes per hour; and first production and sales from the JV expected mid 2023. Turns to this: New funding partner, Sable Platinum Holdings (Pty) Limited will supply £650,000 for the establishment of an initial quick start 10,000 tonnes per month ("tpm") capacity plant. So what are Pace SA now bringing to the table? Sable Platinum are providing the funding and have provided access to new customers. Ironveld are providing the land, the ore to be processed and the people required to operate the plant. PACE provide some more customers and "trade the Magnetite" at point of sale. It certainly looks, once again, like Ironveld have done a deal for funding, only to find out that the money isn't available. They now have half the production capacity and half the stake they had when the deal was first signed. I'm not sure how Ironveld can accept losing half of their stake because their partner can't provide the funding promised. The only reason I can imagine is they've done it for face saving reasons. To sugar coat this pill they claim that production capacity was originally massively overspecced (they don't say this outright, but by implication). Despite losing nearly two thirds of that capacity the JV can and intends to double the originally planned production without hitting capacity limitations. Lets assume doubling the original plan takes us to 10K tonnes (the new capacity limit). That means when we originally planned to build a plant capable of 27K tonnes, we aimed to produce only 5K tonnes. Of course Ironveld failed to provide any numbers other than plant capacitcity in the original RNS, so we'll never know if there really is a financial hit from all of this or not. I suspect there is. As Ladeside and others have said, this is a sideshow to the primary concern of getting the HPI out of the ground and selling it, but it does exemplify a continued pattern of behaviour. Ironveld release transformational news, only to later reverse out of it. Makes them very difficult to invest in. |
Posted at 01/9/2023 15:24 by ladeside DMS Magnetite project - No cost or technical risksOn 27 January 2023 Ironveld’s subsidiary, Ironveld Mining, and Pace, a South African company specialising in supply chain solutions and trading in DMSgrade magnetite, entered into the IPace Joint Venture Agreement (‘IPace’ equal partners to produce and sell Dense Media Separation (‘DMS’) grade magnetite from Ironveld’s mine in Limpopo, South Africa. Although not central to the Group’s business plan for production of High Purity Iron (‘HPI’) plus vanadium and titanium in slag, it offers potential for an important extra source of revenues with no upfront cost or technical risk for Ironveld shareholders. The JV’s amended structure retains Ironveld’s ability to mine and sell additional ore, including ‘fines’ that would otherwise not be suitable for the Group’s Rustenburg smelter, to IPCAE on a ‘cost plus’ basis, while benefitting from a share of expected future positive cashflows. SEAM and Pace have both introduced significant offtake customers to IPace, through which forecast tonnage volumes are now approximately double the level envisaged early in 2023 when the JV was first created. Based on the new participations, the Board sees a negligible overall effect on the projected positive accruals to be collected by Ironveld. Given also that the revised upfront capital requirement proposed by SPH for a smaller and more efficient plant, which minimises unused capacity versus the original design, is lower than the c. ZAR 35 million (£1.65 million) that was originally planned by Pace, based on anticipated sales, the period required for capital repayment should also be reduced, which in turn advances the first expected payments to IPace. Ground and civil works at the site are said to be progressing well, with plant installation expected in around one month which, in turn, suggests maiden sales should be confirmed some four to six weeks following that. |
Posted at 11/4/2023 09:29 by ladeside JOHANNESBURG, South Africa, April 10, 2023 (GLOBE NEWSWIRE) -- Enernet Global ("Enernet") remains on-track to deliver a full-hybrid system for the Ironveld Smelting ("Ironveld") Rustenburg smelter complex in South Africa, having already provided start-up generation required.Following the successful implementation of a 1MW temporary power plant commissioned in late 2022, Enernet has deployed the first of four stages of power upgrades for the Ironveld. The first stage involves a 4MW power plant that enabled ‘Hot Commissioning’ of the first of three planned operating furnaces. This process included smelting of test quantities of magnetite ore in order to produce HPI and titanium slag. Working in a close partnership with Ironveld and their sub-contractors, Enernet managed the rapid delivery of the first stage power with no safety or environmental incidents. Despite the inherent challenges of labour and equipment shortages due to countrywide stage four load shedding, the project was completed in less than 10 days. Delivering the fast-tracked power involved road freight conveys from Johannesburg, a 90-tonne crane and a site crew of up to 20 working around the clock to deliver the much needed power in a record time. Enernet's Vice President Engineering, Dusan Nikolic led the onsite pre-delivery electrical safety tests and inspections. "The delivery of stage one power was a combined effort between Ironveld and Enernet, the quality and speed at which the work was completed is a testament to how well the two companies worked together as a team." Enernet are now progressing multiple work packages in preparation for the future stages of power upgrades which will boost the on-site power capacity for the operation of three of the furnaces). These upgrades will enable the smelter complex to process approximately 40,000 tonnes of Ironveld's magnetite ore per annum which, in turn, will provide 20,000 tonnes of high purity iron, 190 tonnes of vanadium in slag; and 3,800 tonnes of titanium in slag. Ironveld Smelting's CEO, Thamaga Mphahlele, commented "Our partnership with Enernet is working extremely well and is provides us with the confidence we need execute our expansion plans over the coming months." Imminently, work will begin on the design and construction of both rooftop and ground mounted solar power systems with a combined capacity of 6MW, for which Enernet's power engineers are working with South African-based contractors. The final stage of power implementation will comprise a hybrid of energy technologies including solar power, a battery energy storage and clean burn, liquefied natural gas generators. The solar system, battery storage and LNG generators will be fully-funded by Enernet and once operational, power will be purchased by Ironveld under a 20-year energy services agreement. "The team at Ironveld have a 'can do' mindset which aligns with our business culture and has been key to completing the project milestones safely and on time," Enernet's Business Development Manager, Martin Smith concluded. |
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