Ironveld Share Discussion Threads

[bigwavedave] 10/11/2024 15:58

Hi Q,Good to see you again.Apologies for the tardy response but I only occasionally look in these days. I dumped my shares a while back, fully expecting IRON to go down the toilet for good. Credit to JW for keeping it going but he'll have to perform some real magic now. Always possible, I suppose.I hope all is well with you.D

[orange1] 07/11/2024 14:30

Sold in 2013 for £1.57m. Are you going to tell us it is now worth £100m?

[castleford tiger] 07/11/2024 13:48

do we still own mercury recycling?

[penrith] 02/11/2024 18:00

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.

[quidnunc] 02/11/2024 17:11

Hi BWD,I'm glad you're still about. The long and lingering death of Iron continues to fascinate me but no longer inspires! There seemed so much promise a few years back but nothing material has ever come to pass. Each leak requires an even bigger pinch of salt to go with it to the point where there's more salt than substance The only reason I hold is because my holding is so close to valueless as makes little difference. Anyway it's good to see a few familiar names still orbiting the plughole!Best regards W

[rec0very stock] 31/10/2024 13:43

"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.

[ladeside] 31/10/2024 11:54

The problem is that most of what's in the research note which is talking about what the funds are to be spent on etc has, as far as we were aware, already been done !!

It appears that what we've been told over the past few years were nothing other than lies, so why should we believe them now ??

[...]

[paddyfool] 30/10/2024 16:54

Well if they manage to deliver what they have promised there may yet be some light at the end of the tunnel. If this is to become a going concern then the upside from here is potentially very good indeed.

[paddyfool] 30/10/2024 14:10

Wow, that's some result, placed inside the spread.

[malcolmmm] 29/10/2024 23:25

Try XLM they are about to rocket imo

[bigwavedave] 28/10/2024 21:04

Hi al101uk,I'm sorry to learn that. I always appreciated your posts. Even if they didn't fit with my investments/dabblings, they always seemed well-researched and objective to me.It's always good to read a (sensible) contrary view in my book but, hey-ho, this is advfn and it can be nasty place at times. So I fully understand your decision but it'd be nice to have you back sometime too. D

[aceuk] 26/10/2024 20:55

I've had a look and can only say how sorry I am you feel it is necessary to withdraw but I do understand.

My own very brief interaction with Mr Jennings here and on Twitter was unsatisfactory, the man really didn't know what he was doing then and I suspect still doesn't. Sad.

[al101uk] 26/10/2024 19:56

In case there is anyone left here who might be interested check the header:



I'm out.

[friars3] 12/10/2024 14:00

Anyone out there

[friars3] 28/9/2024 14:33

Any comments
Constructive please

[friars3] 28/9/2024 14:32

VR8 have the finger out,
Our lads are asleep

[friars3] 28/9/2024 13:49

Vanadium project’s China link may open way for far-reaching value addition

[friars3] 28/9/2024 13:38

vanadium development company Vanadium Resources (VR8) is striking up with China Energy International Group could give the Steelpoortdrift project developer an answer to many of the downstream opportunities it would be considering. This would be particularly so within the...

Vanadium Resources founder and chairperson Jurie Wessels.
Vanadium Resources founder and chairperson Jurie Wessels.

Photo by Creamer Media

[friars3] 28/9/2024 13:25

hxxps://newsletters-creamermedia.evlink12.net/servlet/link/15922/163552/16642464/5848638

[al101uk] 26/9/2024 13:09

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 :-)

[rec0very stock] 26/9/2024 11:56

Al

I had thought for a while that RJ had learned his lesson after the way GC treated him, ie he had opened his eyes to what a complete POS the company was and was not just blaming GC and ME for ruining a fundamentally good company. Clearly when JW took over he reverted to believing his own flawed analysis of the company and in believing JW could undo the damage GC and ME had done - he can't because it is fundamentally a bad company with a non starter of a project despite seeming to have what might look like a valuable resource (resources are completely worthless if you can't sell what you produce from them for a lot more than it costs to produce it).

Whilst I don't know the background of KZG, as I have never really been interested in it, I suspect the story is similar in that he has a flawed analysis of how "good" the company is and that with better management everything will be good. He does not like being told his value analysis methodology is fundamentally flawed which effectively turns him into a mugpunter.

When we first discussed the trading whilst insolvent issue, you made the point that they should be given time, my view was they had already had a long time and should not be granted much more. How much more time is it right to give them?