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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 17:57 by ladeside As it stands I think we can all agree that the company is in a very precarious position and our only real hope is that JW can keep us ticking along until a genuine cash injection is received, if not, then it's a case of salvage what we can via a fire sale (which is unlikely to be much) otherwise it's pretty much game over.Have we all been "had" to this point ? Yes, I'd say that's pretty obvious. Were the warning signs there ? Yes, they undoubtedly were, however once again those of us who remained made the mistake of believing that there was a semblance of regulation in the country and that RNS's and investor podcasts might at least have had some sort of truth in them. As I've said before, is it really any wonder that AIM is becoming un-investable and that the whole UK market in general is losing credibility ?? There's only so many times you can lie and cheat people before they wake up and see the corruption for what it is and I think the tipping point has just about come if not already here..... |
Posted at 04/4/2024 17:47 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 10:41 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 24/2/2024 12:34 by al101uk The nice thing about this is that we have a comparitor, RJ won in the battle for Kazera. Things don't seem any better over there. Despite lots of promises and things seemingly being sorted for them the price recently fell by 20% and it's lost about 50% since new management took over.In the last results there was a sudden leap in admin costs, which look like they are the result of a large management fee taken through one of the companies subsiduaries with no notes to clarify what that was for. They have burned through the cash from what looks like an abandoned attempt at buying and developing the Tantalum mine by the Chinese and it looks like a placing is imminent. Meanwhile Giles Clarke still holds 4% of the shares while RJ holds none and extracted himself with a tidy profit and a large premium to what regular investors could ever achieve. RJ claimed a big future for Kazera and put a price trarget on it of 4.5p, yet he sold at a fraction of that "target" well before there was any real progress. In my opinion you can pick your poison, RJ the shyster or GC the incompetent, regular shareholders end up at the same place. |
Posted at 21/12/2023 06:41 by rec0very stock Al,You are right - as usual the company uses woolly terminology so nobody knows what is really going on. I assumed a loan with security over all the assets (Grosvenor, who supposedly introduced the funders, were looking for a loan). Under takeover rules anyone taking more than 30% would have to make an offer for all the share capital. Putting money in as equity would leave the investor just as vulnerable as other shareholders if it still does not get to cash generative at PLC level production (there are no guarantees with HPIP pricing as there is no organised market) The only thing we do know for sure is the company is and will continue to burn cash whilst only producing HPI (it is not even doing that at the moment - putting the smelter on care and maintenance basically tells you it burns significant cash at the gross level and getting cheaper electricity won't suddenly make it cash generative at PLC level). It is good the JW is trying to get a grip of costs, but fairly abysmal that the company never had a decent handle on its costs - even I could see that it was just going to burn cash ad infinitum until they could raise the CAPEX and working capital to get to HPIP. As the company will go to 0p eventually without the full funding needed, however much that is, I agree whatever it takes to get full funding rather than doing keep the lights on placing will be the best option for current shareholders, who don't just sell like I did 2 years ago at over 4 times current SP |
Posted at 07/11/2023 15:53 by al101uk It's been a while since a mailed Investor Relations, so thought I'd post my questions here at this point as it doesn't seem I'll be getting any further clarification:So my first question was: The last update I saw on smelting costs had them at $335 per tonne, but this is from a very old note. Is this still the expected level or could a new number be provided? I was told smelting costs haven't been published. My follow up was to ask if the analyst note numbers that we were given were guided at that time, but no answer. Second question: Could the terms of the debt the company took to fund the smelter be clarified? When does the 10 year payment period begin (or has it already?). When are debt payments due to start and how are they calculated? Are there any provisions for defering the debt should Ironveld not reach sufficient profitability during that time? The same nonsensical line from the RNS was quoted back to me. I followed up explaining why that line was non-sensical and asking again for clarification via a series of further questions: The debt is over 10 years (starting when?) Paid out of profits (Profit defined as? Smelter profits, Operating level, parent company, EBITDA?). The RNS says that Ironveld purchased the debt, so it isn't contained within the smelter business? Capped at 13.5% (13.5% of what? 13.5% of a £66k operating profit isn't going to pay down the debt over 10 years, for example). Third question and response, I've already posted. The response to question one confirms to me that they are purposefully obfuscating on smelting costs, which on it's own makes the company uninvestable. To be fair they did say that they are not in full production yet and so don't have a number for smelting costs. But surely they have some kind of ballpark number they could guide too... they choose not to publish a number and there is only one conclusion one can draw from that. |
Posted at 26/10/2023 11:10 by luckyabbeygale Look at Enet. 1300 percentage rise in two days. They looked very risky. I still was thinking about putting just £500 in at 0.25p and then I would of sold to soon the next day at 0.75p. Loosing out on 3p plus.Tells us that proffesional investors do indeed average down. Also Enet only has 50K cash and is still likely to go bust. What we have here with Ironveld is over 10 times better than ENET's potential. The stockmarket behaves like an idiot on how it goes about the pricing of shares. |
Posted at 26/10/2023 10:55 by aceuk Ultimately given his previously built ownership it's not a premium, he's doing what professional "investors" say you should not do i.e. catch falling knife/average down! |
Posted at 20/7/2022 23:15 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 10:49 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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