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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% | 0.037 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.037 | 0.037 | 0.037 | 0.037 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 02/11/2024 18:00 by penrith Hi RecOvery Stock.You said .How the brokers managed to con hapless investors into this is beyond me, but maybe there are people who want a thumping capital loss to offset against gains elsewhere to avoid the increase in CGT.Not sure I agree with the 'hapless investors ' bit . Reading the posts on here the company looks a busted flush but there is a lot of emotion about. I am thinking it may be worth a punt but I am quite heavily invested in KZG so you might question my judgement Lol. |
Posted at 31/10/2024 13:43 by rec0very stock "At 18 October 2024, the Company had a cash balance of £17,892 and total creditors of £3,685,410 with £2,972,711 payable to South African entities (including the outstanding loan owed to Warmbad) and £757,698 due to creditors in the United Kingdom, including outstanding fees and/ or salaries owed to directors and the outstanding Loan Facilities. The Company has entered into agreements with certain of these creditors to settle a total of £693,000 from the net proceeds of the Placing and the Subscription.The Company has also entered into agreements with certain of its creditors to settle a further amount of £231,900 through the issue of 644,167,519 New Ordinary Shares at the Placing Price, being the Creditor Shares. Following the above cash and share-based settlements with certain creditors, the Company will have total creditors of £2,515,888. The Company intends to reduce this creditor position from cash flows generated from production, whilst ensuring the Group's operational objectives can be met." In other words they are trading whilst insolvent! Paying £2.5m from production cashflows when there has never been any net cash generative production is pure fantasy. The company is in a funding black hole so deep this placing hardly fills an inch from the bottom let alone provide the capital needed to achieve positive cash generative production. How the brokers managed to con hapless investors into this is beyond me, but maybe there are people who want a thumping capital loss to offset against gains elsewhere to avoid the increase in CGT. What happened to the loan? Yet another false hope no longer even mentioned. |
Posted at 26/9/2024 13:09 by al101uk RS,Answer is I don't know and don't really care anymore. I think most have abandoned Ironveld now, as evidenced by the lack of posts, granted there isn't much to discuss. I thought, maybe, JW could rescue something from the situation, but he's partnered up with RJ at KZG now, so who knows what's going on. As an investor, from my pov, this company hasn't been worth having money in since the initial failure of funds to arrive from the random African bloke I can't remember the name of. That was the last time I sold my v. small position. Again, as an investor, I wouldn't be wishing for the company to go in to administration, I'd be selling up whatever was left before that happened. It's a small benefit PI's have when dealing with AIM listed POS. From a corporate governance point of view, yes, at this point they probably should be thinking about wrapping it up and salvaging anything they can for shareholders. I think GC's story is over, but RJ has another decade of fun left in him and such a rich and interesting back story :-) |
Posted at 09/9/2024 15:36 by luckyabbeygale I hope Align has gone bust over what they did to Ironveld. With their lying in promoting it and loosing investors like myself a lot of money. |
Posted at 05/8/2024 16:12 by ladeside I always thought there was going to be some sort of merger between the two given that they seemed to track one another, had the same boards and had the same majority shareholders / investors.God knows, but lots of weird / dodgy stuff going on. |
Posted at 21/7/2024 18:06 by ladeside We also weren't notified of the situation / failure of the following which had been previously RNS'd,The Generators being installed ? The solar power plant ? The DMS Magnetite JV ? Burnstar Hydrogen plant ? The completion of the third smelter refurbishment ? The third party smelting contract ? Lots of stuff which was supposedly taking place but no updates at all. As it stands right now we've "officially" been told very little / next to nothing but given our serious funding situation it would seem that everything above has either failed or been shelved but given that we've had no RNS to confirm, how the Hell are investors / shareholders supposed to have any real confidence here ?? In reality it would seem that everything we'd previously been told can be treated with a rather large pinch of salt.... |
Posted at 04/4/2024 16:47 by ladeside In fairness you "saw the light" as it were but it seems you had that Ironveld scarf and hat along with the rest of us at one time and undoubtedly came a cropper along with the rest of us, just at a different point in time.....I do see your point to an extent as I often wonder how AB gets away with it time and time again (over at RRR) and new investors don't seem to understand the history or somehow think that THEY will be the ones that will see everything turn, so Yes, I do actually understand your reasoning and your motivation for your continued posting. |
Posted at 01/4/2024 09:41 by rec0very stock All entirely predictable and indeed some of us predicted it - GC and ME have been deceiving investors for years. Why is any of this a surprise now?The current cash burn even with everything shut down and the current cash position are dire. Will they even be able to get a placing away at any price? The company is technically trading whist insolvent with over £3.5m of net current liabilities, facilities all fully drawn, £25k of cash left and several more months before there is any hope of this mega loan. How big does that loan need to be - sounds like it is getting closer to £10m and there is no proper BFS/DFS to support it. That will make due dilligence interesting! JW will not keep throwing good money after bad forever. |
Posted at 20/7/2022 22:15 by al101uk GC companies all have the same traits, from Amerisur to Ironveld to Barkby Group to Kazera. It doesn't seeem to matter who the rest of the team are (CEO, CFO etc), they all manage truth and hype at just the right level to keep people interested.They don't lie directly, they lie by omission. With Amerisur, Plat was a great field until it was plugged while oil prices were low and Amerisur lacked a cheap way to transport the oil (that's what investors were told): "the oil has been there for thousands of years, it's not going anywhere" Meanwhile the company strung investors along for four years before the transformational pipeline finally opened to great fanfare and Plat could be brought fully back online. Only the flow rate would have to be increased slowly. Then investors were told that a pumping station was hugely affecting flow rates. When this was fixed, flow rates still did not improve, but there were definitely no problems with the Plat field. That was until, it turns out, there was wax in the wells, a common problem in fields that are shut in for any length of time. Reworking the wells would fix it said the baord. But Plat never recovered and was practically written off by the time Amerisur was sold. The story lasted long enough though for another prospect, CPO 5 to hit decent amounts of oil and early investors still could have done reasonably well out of it (unless they averaged up, like me). The resulting success was more by good luck and a good geologist than anything else though. Funilly enough that same Geologist (John Wardle) sung the praises of CPO 5, right up to the point Amerisr was sold for a fraction of it's all time high. CPO 5 appears to be doing great under new management. Admitting problems, only when it's absolutely necesary is GC's modus operandi. Look at the Kazera story (probably worse than Amerisur), Ironveld or the multiple failed deals in Barkbys previous incarnation before it was delisted. If you go back to his boasts around his two other big successes and then look at listing prices and how investors fared who bought in to the publicly listed companies ... it ain't that great. He did fantastically, he built a business that was very well valued when it listed... but the investors didn't get a great deal of the upside. The businesses, even once sold, certainly didn't live up to the hype. I still believe you can make money on GC companies, but timing is everything, reading between the lines, seeing the unwritten negatives and only putting in money when success is practically assured is in my view the only way to do so. GC gave investors the opportunity to buy Amerisur at 2p and sell at over 70p... that has got to be worth something. |
Posted at 03/7/2022 09:49 by rec0very stock Malcolm,It would be wise to consider how you define and how you use the word "scam". I define a scam as a proposition built primarily upon smoke and mirrors for the sole purpose of making money from investors. When fully exposed there was never any chance of the proposition making money for investors, though investors who get out at the right time do make money. Classic examples of such scams are QPP (A very clever scam and it remains to be seen whether the perpetrators will ever end up facing justice) and WRN (a far more transparent scam, for which at least some of the perpetrators do look like they will face justice eventually). On this basis IRON is not a scam and GC would never perpetrate a scam. The majority of businesses propositions do however fail, even ones which have enjoyed a degree of success and become cash flow positive can still fail when situations change. Successful investing is about investing in successful businesses and businesses that become and remain successful. It is inevitable that some of any investor's portfolio will not achieve that, hence the need for a reasonably diverse and risk balanced portfolio. The discussions here should be about the risk / reward balance offered by IRON so investors can make their own investing decisions on a better informed basis. Avoiding scams, which will always ultimately lose investors all their money if holding when the music stops, and propositions, which are or become so flawed there is very little chance of them becoming successful and therefore will also lose investors all their money if holding when the music stops, significantly improves the risk reward balance of a reasonably diverse and risk balanced portfolio. Thus the outcome for investors in scams and failed businesses is the same - 0p. Failing businesses, which is how I would currently categorise IRON, often try things which scams also do and may exhibit some of the hallmarks of a scam, but we should take care labelling them scams. FWIW my view of EUA, where my only interest is in understanding the psychology of the holders, is that it was a flawed business proposition which was incompetently executed over many years which has now converted itself into a scam. Some holders have made a lot of money riding the roller coaster, others got on at the wrong point and are too afraid to face the consequences of their mistake. They combine to generate a religious cult type mentality, which I find fascinating to observe. The discussion there is almost entirely polarised between believers and sceptics and there is virtually no constructive interchange between them. I hope this BB can remain civil and constructive towards allowing individuals to make there own investing decisions on a better informed basis. |
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