Ironveld Share Discussion Threads

[friars3] 12/10/2024 15:00

Anyone out there

[friars3] 28/9/2024 15:33

Any comments
Constructive please

[friars3] 28/9/2024 15:32

VR8 have the finger out,
Our lads are asleep

[friars3] 28/9/2024 14:49

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

[friars3] 28/9/2024 14:38

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 14:25

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

[al101uk] 26/9/2024 14:09

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 12:56

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?

[al101uk] 26/9/2024 11:17

RS,

I think you might be talking to yourself at this point.

Richard Jennings has filtered me, lol!

[rec0very stock] 26/9/2024 10:04

From RNS 6 Jun ie nearly 4 months ago:

"The Company has received a communication which suggests that the finance package potentially available may be substantially reduced from that original envisaged and that the formal offer of funding remains subject to further due diligence. In addition, following the recent South African elections, it is anticipated all strategic investments will await new policy decisions from decision makers yet to be appointed. Accordingly, the timeframe for securing the funding could be extended by up to four months.

In light of these developments, the Company and its management are evaluating the impacts and are assessing options to address the situation."

Since then absolutely nothing. I said at the time the company was trading whilst insolvent (unable to pay bills when due) how much higher are they going to let the pile of unpaid and unpayable bills get? It is crystal clear that there are no other options to getting this loan, which if it arrives at all will not provide the capital needed to pay off outstanding bills and provide enough capital to get the company to a cash generative position to be able to service the loan. Hence the loan would be pouring money into a black hole with no hope of a return, which is why it is highly unlikely to ever materialise.

In the meantime what is happening to the smelter, which they pumped a load of money in to refurbish even though they don't own it as they have not even paid the initial sum and is now shut down doing nothing?

[cloud9surfer] 19/9/2024 23:21

Seems a few people having a punt at this and why not! Could be a good reward if they get it right? Might be a long wait though!

[tommygriff] 10/9/2024 17:04

Would have done a better job than GC and ME. At least he had shareholder interests at heart, see KZG

[al101uk] 10/9/2024 16:52

A charge was submitted which, as far as I can see caused RJ to lose control of the company, the details can be found here:



Looks like Riverfort Global Opportunities took the company off him to settle debts.

[luckyabbeygale] 09/9/2024 16:36

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.

[al101uk] 02/9/2024 13:51

It's just bizarre Ace, I re-read the conversation and I think it started because he replied to the wrong poster, Penrith posted something negative about Align around the same time.

There is an obvious theory around why he is so sensitive at the moment, but I won't say too much, I have a horrible feeling if you say his name three times he appears.

[aceuk] 02/9/2024 08:29

Morning al101, nothing changes - the guy's a prat, lord knows how he's survived as far as middle-age ;-)

[al101uk] 01/9/2024 22:31

Ran in to Richard Jennings over on the Kazera thread, thought people here might find the exchange amusing.

Here's my initial, completely benign post, you can follow along from there.



RS, if your still about, you were 100% correct in your assessment. Now I'm even more curious about his business practices.

I found it very entertaining, but people are getting bored of it now and as he doesn't directly respond to anything I say there seems little point carrying it on.

[bigwavedave] 30/8/2024 12:15

Hi Q.I've still got one!Not sure about IRON. Maybe Doctor Wardle can do something...Hope all's well with you.D

[quidnunc] 27/8/2024 20:42

Is there still a pulse? Q

[friars3] 15/8/2024 21:26

Is the whole company mothbolled

[friars3] 15/8/2024 21:21

Any news on the smelter,

[friars3] 15/8/2024 21:17

Anyone out there???

[malcolmmm] 12/8/2024 20:09

Am visiting Cathedral Peak Hotel. Stayed there a lot, managed to climb Cleft Peak and Cathedral Peak in the past