Ironveld Share Discussion Threads

[rec0very stock] 27/7/2022 19:05

Not if you have a massive ego, are arrogant AND stupid.

[kemche] 27/7/2022 17:49

How can it be possible that EVERYTHING Pharmacal touches invariably turns to merde? I would have thought that to be a statistical impossibility!

[purchaseatthetop] 27/7/2022 17:16

That i# my favourite statement EVER!

Intestinally mining rights cannot…….etcetc

[malcolmmm] 27/7/2022 17:15

Intrestingly mining rights cannot be transferred to 3rd parties

[malcolmmm] 27/7/2022 17:14

The MPRDA requires the holder of a prospecting right or mining right to obtain the Minister’s prior consent to transfer that right, or part thereof, to a third party. The requirement of Ministerial consent extends to the transfer of a direct or indirect controlling interest in a company, excluding those listed on a recognised securities exchange, which holds the prospecting or mining rights. Mining permits and retention permits are not, as it stands, capable of being transferred to third parties


Once a right is granted and registered, the rights holder has a limited real right in respect of the mineral or petroleum and the land to which such right relates.

Third parties cannot obtain prospecting or mining rights in the same area where rights have already been granted to another party for the same miner­als. Nothing, however, precludes a third party from submitting an application for a right to a different mineral that is not included in a holder’s existing right.

Acquisition by domestic parties versus acquisition by foreign parties
Is there any distinction in law or practice between the mining rights that may be acquired by domestic parties and those that may be acquired by foreign parties?

The South African mining industry is largely known for attracting foreign direct investment in addition to local investment into the industry. All applicants, both foreign and local, applying for rights under the MPRDA must comply with the requirements and provisions of the MPRDA, and any industry-specific obligations that are imposed on applicants. The government, as well as the mining industry, have been embarking on programmes to attract foreign investment into the mining industry, but these programmes have been impacted by concerns surrounding the ease of doing business in South Africa and the administrative requirements surrounding applications for rights, lengthy delays, and concerns surrounding security and corrupt practices. Despite this, the South African mining industry attracts significant foreign investment primarily due to the high rates of return on investments in South Africa.

[rec0very stock] 27/7/2022 16:49

100% agree with LADESIDE's 6710

The key question is why hold this share at all? The writing was on the wall as soon as the AIM rule 10 breaching omission from the Oct 21 RNS was rectified and the company finally admitted Grosvenor did not have the money. Confirming that it was going to be just like all the other funding false dawns over the years and would not be different this time.

How can anyone have any faith in any RNS or PR/IR fluff piece the company produces?

RJ and GC have both acted exactly as expected, given their past records so why is anyone surprised?

Bid price now at placing price - the idea that a placing price puts a floor under the share price is as mythical as the reverse Newtonian law that what goes down must go up and that you only lose when you sell.

If all the Broker Warrants get exercised (bid would need to be at least 0.36p to make it worthwhile and the Special Resolution may not pass on 1 Aug) in total they could have £5.5m less expenses (a lot more than the RJ proposal which assumed £1m from a Broker Option at 1p - the Broker Option at 0.3 was only 50% subscribed). If everything went without a hitch that might be enough to get to being cash generative at PLC level. The first hurdle to overcome will be settling with the landowners (the resource is under 6 farms). How much that will cost and how long it will take is anyone's guess as it looks like GC has treated them with the same contempt he treats shareholders.

I voted with my feet on over 1.2m shares, but am glad I still have 27k so I can watch the fireworks and tears on 12 Aug and then go for a meal and a few beers with an old friend.

[malcolmmm] 27/7/2022 15:37

They hold mining rights
Ironveld Annual Report for period ending 30 June 2017.pdfhxxps://www.ironveld.com › docs › Ironveld Annu...PDF
6 Dec 2017 — mining licences for heavy minerals, iron and vanadium. The Company now holds unfettered rights to 56.4 million tons of magnetite ore on the

[malcolmmm] 27/7/2022 15:33

Which one do IRON have
What is the difference between mining right and mining permit in SA?
Mining Permit: A mining permit gives a company or individual permission to mine a small area of land (not more than 1.5 hectares) for a specified period of up to 2 years. Mining Right: A mining right gives a company or an individual permission to mine for a specified period of up to 30 years.

[ladeside] 27/7/2022 15:29

At this point I believe one party is as bad as the other, they are both behaving like petulant children and none of them come out of this well at all.

The only thing that I would say is that this vote and the future success of this company has now become the hill that one of them will die on, as such I'd hope that WHOEVER wins the vote puts as much effort into making it a success otherwise their reputations will be completely finished once and for all.

Of course, they SHOULD still be attempting a reconciliation of sorts which would benefit themselves and all shareholders, however that looks like having a zero chance of happening.

As I say, there are no "good guys" here, both parties have outed themselves as childish, arrogant and completely incompetent while only looking to feather their own nests while screwing over the PI.

Some things NEVER change on AIM.....

[aceuk] 27/7/2022 14:02

Interesting maybe

[purchaseatthetop] 27/7/2022 11:39

Perhaps we could set up Chelsea Holdings, get Mbwane from the local Asda to be the CEO, open up huge spread bets on a price rise, and then put an offer in to invest £10m but we have lost our bank statements right now but release the RNS and we will email them when the Nigerian Prince transfers the online banking code.

[malcolmmm] 27/7/2022 10:42

I was predicating best and worse case scenarios lol so plenty of leeway for error .I really havent a clue what these will be in the future but a pe of 30 for such a stock isnt bad imo if successful

[rec0very stock] 27/7/2022 10:06

Malcolm have a go at the GM vote share competition. You clearly don't need the free lesson in guessing what the share price will be at some point in the future (date or conditions based). However the free lesson in assessing risk / reward balance might be of use.

2p with 3 Bn (the minimum, could be a lot more) shares in issue would be an MCap of £60m. Scaling down the last DFS to account for half capacity smelter gives best case earnings at PLC level of £2m (could be a lot less) so you are predicting 2 best case scenarios happening leading to a p/e of 30.

[malcolmmm] 27/7/2022 09:33

The share price imo will be 2p plus in 12 months or 0 if they are digested by another mining company ,whatever or fold

[purchaseatthetop] 27/7/2022 08:21

I already won all the prizes. Forecast of a 0.3p placing back in Jan 22 when everybody was talking monster gains.

*walks off smugly*

[rec0very stock] 27/7/2022 08:16

Thanks tima I will put you down as

75/25 for 1 Aug and 16/84 for 12 Aug

I am 69/31 and 31/69
patt is 73/27 and 27/73

It would seem we all think the special on 1st to allow shares to be issued on exercise of the Broker Warrants could be blocked (a pyrrhic victory for RJ); the placing will go through and neither GC or ME will be sacked

Anyone else want to have a go? Remember the prize for whoever gets closest is a choice between:

A free lesson in assessing risk / reward balance

or

A free lesson in guessing what the share price will be at some point in the future (date or conditions based).

[tima441] 26/7/2022 20:11

Afaik... 1.3bil shs pre-placings
120m shs issued under headroom
So about 1.45bil in total

GM 1st Aug Align have 120m shs

My guess 70% voted out of 1.45bil = about 1bil voted

Align might get another 120m or so?

I suggest:
750m for placing
250m against placing

No contest

By the time we get to director vote
Almost 2.7bil shs in total?
Again 70% vote = 1.9bil

I suggest
1.6bil for directors (against resolution)
300m against Directors (not even 20%)

No contest

[al101uk] 26/7/2022 19:46

I also pointed out Susanoo holdings back in the day, which was another investment vehicle set up to pump money in to another small listed mining operation that fell through when the funds didn't arrive.

There's a whole history of posts previous to the one linked with loads of info on Grosvenor and it's owner not that it means much at this point.

[al101uk] 26/7/2022 19:42

Tanyaradzwa has been working for Grosvenor for 7 years when Grosvenor has only been in existance since 2021.

As per the RNS it was set up with the sole intention of investing in Ironveld.

Thembi, the owner of Grosvenor, had formed several companies before that one and had at least one wealthy co-investor (Enoch Godonhwana) who was made Finance Minister of South Africa in August 2021. I think that's where Thembi got his credibility.

Thembi and Enoch appear to have been involved in Verasource which was a succesful mining operation. They were also involved in a number of less succesful enterprises.

Details here:


dex=posts&thread_id=28088359&offset=150

I suspect that the deal with Ironveld is dead and burried at this point with Thembi unable to call on his co-investor and so he has let his mate use the company name to pad out his CV.

[malcolmmm] 26/7/2022 00:22

Tanyaradzwa Mutsiwegota - GROSVENOR HOLDINGS LIMITEDhxxps://za.linkedin.com › tanyaradzwa-mutsiwegota-ba0b2...
South Africa · General Manager · GROSVENOR HOLDINGS LIMITED
View Tanyaradzwa Mutsiwegota's profile on LinkedIn, the world's largest ... General Manager at GROSVENOR HOLDINGS LIMITED ... South Africa14 connections.

Tanyaradzwa Mutsiwegota - Front desk cashier - Pick n Payhxxps://za.linkedin.com › tanyaradzwa-mutsiwegota-76575...
Cape Town, Western Cape, South Africa · Front desk cashier · Pick n Pay
Tanyaradzwa Mutsiwegota. Retail Cashier at Pick n Pay. Pick n PayRukweza High school. Cape Town, Western Cape, South Africa.

[hedgehog 100] 25/7/2022 18:22

"Others named Tanyaradzwa Mutsiwegota"

"1 other named Tanyaradzwa Mutsiwegota is on LinkedIn"




Malcolm,

It is two different men with the same name.

This is clear from both the words, and the photos - which are clearly not of the same guy.

[malcolmmm] 25/7/2022 17:27

Nothing wrong with being a supermarket cashier or road sweeper,what I was getting at was surely it would make IRONVELD directors, CEO whatever auspicious at the lack of expertise in the the guys running Grosvenor and their ability to raise millions of pounds.
They didnt seem to want to do due diligence and were happy to clutch at any straws

[malcolmmm] 25/7/2022 15:55

The style in which Lakeside posts makes me think she is a woman?
I expect she is selling her holding cant blame her if she is.

[malcolmmm] 25/7/2022 15:27

I am not gloating, these could soar if what they say is true and they actually get the funding. Most people aright right at some point on the stock market, what goes down could very well go up just look at a few aim graphs.

[rec0very stock] 25/7/2022 14:40

Keep enjoying the ride.