Ironveld Share Discussion Threads

[al101uk] 17/12/2021 09:31

Standard practice to add the confidentiality paragraph in there. The IR companies I've contacted have all done the same.... even when the information is completetly bland and unintresting. I think you're right it's just a disclaimer.

Even though what I got back was only a clarification, I was a bit careful how/what I posted as well... I guess that's the point.

[malcolmmm] 17/12/2021 08:44

It was nothing unusual just said as per tweets but I suppose I didnt want to leave myself open to a lawyers confidential email as stated on the email as she is a laywer for ironveld. off to work ,good luck all . any one can contact her anyway

[luckyabbeygale] 17/12/2021 08:33

I just bought 95,000 to add to my holdings. There is nothing at all to be panicked about. Everything is going as planned.

[luckyabbeygale] 17/12/2021 08:14

There is no need. As Align has made it clear that we are getting the funds.

[malcolmmm] 16/12/2021 16:22

Petty we all couldn't get together an raise the money ourselves . I have worked in banks at quite a high level.

[malcolmmm] 16/12/2021 15:57

The email was and is confidential so I cannot comment unfortunately.

[malcolmmm] 16/12/2021 15:54

I did email Rachael Brooks and I did get reply. Lots of buys so far today.

[ladeside] 16/12/2021 12:39

Yes, was just thinking the same actually.

For anyone worrying here, ultimately there's no point in inventing potential negative scenarios in your head and then fretting about them, this is the AIM market, there's always risks and anyone who invests in AIM should be well aware of this.

Never gamble what you can't afford and that way there's nothing Mr Market can throw at you that will make any material difference to your life, if people live by these rules then no amount of scare stories or potential disasters will overly worry you and you will enjoy investing / gambling much much more.

As it stands, nothing has changed since the last RNS apart from people looking for negative reasons and worst case scenarios as to why the deal has not yet finalised / completed, part of this "panic" is also due to a few small sells going through and the MM's taking the opportunity to drop us down by 20% or so. Trust me, if there were any REAL problems, then there would be a flood of high value sells and we'd be sitting around the 0.60 mark right now.

Still all good for me but if I had any serious doubts at all, then I'd be hitting the sell button right now as no point in enduring mental torture when you don't need to, life's too short for that......

[sabre6] 16/12/2021 12:20

Well KZG GC other company has just published their results and no mention of the two investors that agreed funding @2p per share neither did they say the deal was off.
These deals never run to schedule if you're in any doubt about this deal you can always sell now.

[al101uk] 16/12/2021 11:53

It seems to be the way that Thembi operates. Create a company, directors are effectively investors, use that money to invest in an asset or start a business. His associates seem to have multiple businesses too, I don't think that's unusual for S.Africa (limited sample size admitedly).

There is no transparency on how all of those businesses operate, nor what they have generated in profit, but that's understandable as they are private businesses, I'd assume Ironveld have that information.

I'd guess that Verasource was a profitable business, I'd also guess that maybe Susanoo holdings has something behind it as Ironveld specifically mention it in their RNS's. I would guess that there are funds still held there from the Diamond investment that didn't pan out.

I don't really question that Thembi has the funds that HE has pledged to the project, although I might question the percentage of the funds that he is pledging. I am concerned that one of the other entrepeneurs that was assumed to be fully funded/comitted has either changed his mind, run in to cashflow problems or failed some due dilligence just before the AGM/bank transfer was initiated.

It's interesting that the original expectation, from the circular that was provided for the AGM had this timetable:

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

Announcement of the AGM: 22 October
Date of publication: 22 October
Last date for receipt of Proxy: 10:00am 5 November
General Meeting: 10:00am 9 November
Admission and commencement of dealings: 8:00am 10 November

That was immediately changed after the AGM (RNS on 9th Nov 16:42), don't know what was said at the AGM and if a reason was given for the revised 30th November date?

Putting a date one day after the AGM for share issuance on the circular doesn't scream complaince processes and complex legal paperwork to me.

hxxps://www.ironveld.com/docs/Ironveld%20GM%20Circular%20web%20Oct%202021.pdf

[malcolmmm] 16/12/2021 11:31

I did read Aligns analysis on Ironvelds assets some time ago which is quite impressive, its the other party thats causing this delay perhaps maneuvering for more perks

[ladeside] 16/12/2021 11:18

Align have put out a tweet this morning confirming that they've spoken to Management and deal is still very much on and completion expected.

Reading between the lines, they appear as annoyed / frustrated at the delays as most of us (no wonder, looking at their holding), however as they quite rightly have pointed out, there would have been an RNS issued if anything had changed.

Hold steady lads, wait till you can see the whites of their eyes.......

[malcolmmm] 16/12/2021 08:28

Or perhaps Ironveld is using Governor s as a vehicle to raise the fund's for them via bank loans. Just a theory.

What anyone ramping/deramping posts, if the deal go's thru these will bag imo, if not they will plummet and shares may be difficult to sell. High risk high reward.

[malcolmmm] 16/12/2021 08:23

Well Ironveld seems to be a good company with valuable rescources so why can't they raise the money to develop all these valuable resources ,why do they need to go to a newly formed unknown company run from someone's home I believe with no track record and how is this company raising the money. Are they using banks or their own money.

[givmesunshine] 15/12/2021 23:19

But I do understand nervousness - AIM after all .. we've seen oil turn into water by RNS .. so pays to be a cynic in the long run.. personally no red flags - otherwise I would have bailed

[givmesunshine] 15/12/2021 23:16

Nothing dodgy - I just think all on bbs are focusing on money - have they got it ? Etc - but there is a process to follow with anything like this - it's not just a placing - it's a partnership - and that requires quite a lot of fine detailThat's all

[ladeside] 15/12/2021 21:02

Like what ?

I covered this a couple of weeks back, however there's every chance that the funds will be held by one or both Banks for compliance checks due to AML etc.

That's not sinister or "dodgy", that's just the law I'm afraid.....

[neo26] 15/12/2021 20:24

Why is ther a delay, something dodgy?

[al101uk] 15/12/2021 18:18

Malcolmm

Links get edited by advfn, it was properly linked when I wrote it. Used to be able to make the tt uppercase to get around the block, but no longer.

[givmesunshine] 15/12/2021 17:02

Evening All

I'm not too bothered about the delay - I think all getting a bit edgy over funds but time will almost certainly will be being eaten up by legal work

I would have thought on exchange of agreement some kind of bond would have been put up and proof funds - Heads of terms signed with futher lowel level details to be agreed

Minority Shareholder agreement to be completed , possible warranties, and maybe even loan agreements,v debentures, managment fees, options etc etc

recently been through this myself - can take a while to get the lawyers to fully agree..

However there should be nothing stopping an update if this is the case, its clear managment thought this would be done by now. happy to wait for now.

Cheers

[malcolmmm] 15/12/2021 16:28

Best to change the the protocol to https:

[malcolmmm] 15/12/2021 16:20

al101uk thanks will do.
Well when the money arrives it obviously wont matter what the share price is now .
Havent tried to ring them as yet as am working but will do as soon as I get in.
This sort of thing involving a large sum of money will take time I suppose .
It could be that they want the share price to drop so they can acquire more stock at cheaper prices before they transfer the loan to Ironveld for obvious reasons.

[ladeside] 15/12/2021 16:01

Should have waited for my top up !!

Honestly, what's everyone getting so uptight about ?

They put out an explanatory RNS under 2 weeks ago confirming everything was still on target but there was a slight delay in receiving the funds, slightly annoying, Yes, but certainly no big deal or any sort of signal that the deal is suddenly "off".

Just wait and see, Cousin Giles will be shortly writing up an RNS which will confirm receipt of not only the expected £5.6 million but ALSO the further £2 - £3 million additional candy which we require to get things kicked right off.

Trust me, I've seen this show before.......