Ironveld Share Discussion Threads

[ladeside] 01/8/2022 13:29

If Align had kept quiet and a placing was announced at 0.30, THEN would have been the time for Align to strike and they would undoubtedly have had shareholders onside.

ALL the animosity and outrage would have been directed in only one direction.

However, they did the opposite and as a result it's now perceived by many (rightly or wrongly)that Align themselves caused the share price to crash and for shareholders to be much more diluted than would have originally been the case.

IMHO, Align have screwed us and are only making things worse with their continual sniping from the sidelines and as such I just hope that GC and ME can keep control and get the smelter deal over the line, as that's now the ONLY chance of success for long term shareholders.....

[hedgehog 100] 01/8/2022 13:17

Well the November 2020 placing wasn't that big - £1.15M. - but was still at a big discount:

"The Placing Price represents a discount of approximately 53.8% to the closing mid-market price of 0.65 pence per Ordinary Share on 25 November 2020"


Align going public simply brought forward the share price fall that was going to happen anyway.

Why do you think that the placing would have been far smaller but for Align going public?

[rec0very stock] 01/8/2022 13:05

It would not have been 0.3p, probably nearer 0.6p, if RJ had not thrown his toys out of the cot when and in the way he did - that is completely clear but as there is no parallel universe we can look at where RJ ego, arrogance AND stupidity did not come into play we don't know the exact price it would have been at.

A small discounted placing to keep the lights on (something this company has done a lot of over the years and are masters of doing) has far less impact than one seeking to raise £5m (£4.5m achived could be £5.5m if BWs exercised). The company has shown that it can still get these done and through GM approval, despite significant shareholders and their boxes of Kleenex - I am not surprised by that, is anyone else?

The fundamental question shareholders need to answer for themselves though is: Why do I continue to hold shares in this company?

[hedgehog 100] 01/8/2022 12:44

So who is more culpable: the current management for misleading the market, or Align for not realising earlier that the current management were misleading the market?

And this 0.3p placing is absolutely not the fault of Align.
It would have happened anyway, at this price, even if they'd kept quiet.

Remember that the November 2020 placing was at 0.3p, and that the directors had a vested interest in the placing price being low.

[rec0very stock] 01/8/2022 12:31

All resolutions passed - massively more dilutive placing with Broker Warrants at 0.3p to be issued over 3 years has happened (could bring in an extra £1m if the share price is high enough for them to be exercised). The disaster RJ thought he could prevent has been made much worse thanks to RJ. Incontovertible fact now - hope RJ has enough Kleenex left over for all the shareholders his ego, arrogance AND stupidity has screwed.

"try to get rid of the current management" - Still to be seen on 12 Aug, but it has to be 99.99999999999999999999999999999% certain this will not happen.

Only 2 options for shareholders - suck it up / vote with your feet. DYOR make your own investing decision. With my 27k shares, I will suck it up.

"Align, like many other people [including me initially], were led up the garden path over the Grosvenor (non) investment."

I sussed it, as did many others, and there was a lot of discussion about it BEFORE Align made IRON a top tip for 22.

[aceuk] 01/8/2022 12:03

The fight goes on Align have tweeted - it appears there was no fight and Clarke used the kleenex effectively!

[hedgehog 100] 01/8/2022 11:51

Rec0very Stock 1 Aug '22 - 11:19 - 6733 of 6735 0 0 0
"Given what you posted in 6688 (a copy paste from Align link), with which I think most agree entirely, what do you think about Align making IRON a top tip for 2022?"


Align, like many other people, were led up the garden path over the Grosvenor (non) investment.

I don't know what the outcome on the 12th. will be, so wouldn't want to make a prediction.

As regards what investors do: try to get rid of the current management, and in the meantime balance the quality of the asset with management issue.

[hedgehog 100] 01/8/2022 11:42

01/08/2022 11:28 UKREG Ironveld PLC Result of General Meeting

Ironveld plc ("Ironveld" or the "Company") announces that all the proposed resolutions tabled at the Company's General Meeting held earlier today were successfully passed. As a result, the proposed placing set out in the announcement made by the Company on 13 July 2022 will now proceed with the placing shares being admitted to trading at 8.00 a.m. on 2 August 2022 ("Admission").

The full text of each resolution was set out in the Notice of the General Meeting, a copy of which can be found on the Company's website at hxxps://www.ironveld.com/shareholders.php

Following Admission, the Company will have 2,893,128,854 ordinary shares of 0.1 pence each ("Ordinary Shares") admitted to trading. The Company does not hold any Ordinary Shares in treasury and therefore this figure of 2,893,128,854 Ordinary Shares may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Peter Cox, Ironveld's Technical Director, who has been working on the Project for over 10 years said:

"I am delighted the Placing has been approved for all our team in South Africa and especially for our Black Empowerment Partners. Mr Jennings has been focused on his own selfish aims, and manifestly doesn't care about those whose hopes of employment have been placed in this project for a long time. As a Board we are focused on bringing this project to production and creating the very jobs which will generate real shareholder value. Indeed, his attitude towards them in my judgement is utterly unacceptable.

"The importance of this project to the future of quite literally thousands of members of our local communities and several hundred prospective workers and their families, is immense. At last we will be able to mine our world class ore deposits, supply our offtake partners, particularly Glencore who have been most supportive and very patient. I would like to thank our shareholders for their support and welcome our new investors to a tremendous future for Ironveld."

[rec0very stock] 01/8/2022 11:19

Given what you posted in 6688 (a copy paste from Align link), with which I think most agree entirely, what do you think about Align making IRON a top tip for 2022?

[rec0very stock] 01/8/2022 11:11

So what do you conclude you should do:

a. Now
b. On outcome of 1 Aug GM (should be an RNS very soon)
c On outcome of 12 Aug GM

Any thoughts on what those outcomes are likely to be? or are you happy to just wait and see?

[hedgehog 100] 01/8/2022 10:58

Hedgehog 100 25 Jul '22 - 10:19 - 6688 of 6730

I did make quite a substantive contribution in post 6688 above.

I think it's quite appalling the way management here have misled investors, so in my opinion they cannot be trusted.

A similar thing to the Grosvenor fiasco happened in KZG last year, and the common element in both cases was Giles Clarke.

[rec0very stock] 01/8/2022 10:22

So anything to actually contribute to the discussion on IRON then?

I DMOR and don't follow any tips. I can see why people lose money following Align's tips though.

[hedgehog 100] 01/8/2022 10:19

As regards hoping to encourage adult discussion here: well, people aren't exactly queueing up to engage with you, are they?

Of course there's nothing wrong with a just blog, but if you want to encourage quality posters here, you might find a little politeness and civility more effective.

[rec0very stock] 29/7/2022 20:22

I know, but maybe others will be able to engage in adult discussion about the points I raise.

[kemche] 29/7/2022 20:09

Recovery, it is only fair to warn you of HH - he makes Pharmacal look like an investment god!

[rec0very stock] 29/7/2022 19:59

As far as the GM on Mon goes, I am 100% convinced the Ordinary Resolution to approve the placing will get passed. Why? firstly GC is a master at getting discounted placings away and he has given RJ a master class in how to do it. Cashbox placing means it is an Ordinary not a Special, secondly getting the first tranche in play with votes assumed (they are unless the holders say otherwise and why would they) to be at the descretion of the BoD gives an almost certain 8% of shares on top of what the BoD and supporters hold to counter balance RJ and supporters, thirdly the way it has been set up is: back the placing or risk losing the smelter - beautiful.

The Special on the Broker Warrants is at risk. My view is it won't matter, the main funding is there and they will get the Special through at a later GM when RJ has been diluted (the Broker Warrants, if all exercised, provide an additional £1m+ and without that another even more dilutive placing is IMHO a certainty). If I am wrong about that and it does matter in the short term and would threaten the smelter, there is time, just, for the BoD to call another GM before the 19th and put the Special again; this time with the full placing in play and assumed to be at the discretion of the BoD.

The sack the BoD resolutions have again been masterfully played, as all the placing shares are in play and assumed to be at the discretion of the BoD. I am going along to that one just to see the look on RJ's face when it is obvious to all present that his ego, arrogance AND stupidity in publically throwing his toys out of the cot has doubled the dilution everyone will already have been subjected to. Not that it will make any difference, but I will be voting to sack ME and unless GC turns up (my expectation is he won't even bother to turn up) and gives a really good account of himself I will be voting to sack him too.

The only thing I absolutely 100% guarantee is that time will tell whether I am right or not, but if you are not prepared to make falsifyable predictions based on your knowledge and experiance what is your opinion really worth?

[rec0very stock] 29/7/2022 19:24

My motivation is purely to allow those who want to to discuss the various risks and issues in an adult manner to do so, so they can make their own investing decisions on a better informed basis.

Whatever the result of the GM, some shareholders will not be happy. Those who wanted more shares or to get in have largely done so through the Broker Option at 0.3p or have bought as the share price has declined towards 0.3p. Therefore the logical agrument is that that there will be more sharholders wanting to sell due to the GM on 1 Aug than wanting to buy (given the GM allows those who wanted to to get their wish), hence the prediction that the share price will go down.

It is a logical argument but the market does not always behave logically so we will see at close on Mon if my prediction based on a logical argument comes true or not. It is after all an easily falsifyable prediction.

As far as campaigning on behalf of the directors is concerned - have you actually read my posts? The only person I would trust less than the BoD is RJ, because whatever else you might think about the BoD, they are not stupid whereas, IMHO, RJ has a massive ego, is arrogant AND stupid.

However to extrapolate from someone with my motivation and making a falsifyable predicton for discussion (and for the hell of it to see whether or not I am right as with the tiny shareholding I still have I would not care if it went to 0p or 10p on Mon) to "what appears to be the obvious one" without actually stating what you mean by obvious is the sort of non adult behaviour I am motivated to challenge.

[hedgehog 100] 29/7/2022 17:03

Rec0very Stock 29 Jul '22 - 15:20 - 6722 of 6722 0 0 0
" ... On that last point my guess is at close on Mon the bid price will be 0.25p ie below the placing price."


Recovery Stock, as you're also predicting that the directors will win at both GMs, it follows therefore that you think such a win will cause the share price to fall after the GM on Monday.

You've also been actively campaigning on the part of the directors, but only hold 27K. of IRON, currently worth about £80.

So what, pray tell, is your motivation for your vast amount of posting on a stock you have a £80 shareholding in, apart from what appears to be the obvious one?

[rec0very stock] 29/7/2022 15:20

Last chance to enter the guess the share of the vote competition

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

patt is 73/27 and 27/73

I am 69/31 and 31/69

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).

On that last point my guess is at close on Mon the bid price will be 0.25p ie below the placing price.

[rec0very stock] 27/7/2022 23:56

That's because he has a massive ego, is arogant AND stupid.

[kemche] 27/7/2022 22:53

But Recovery stock, I have heard it from the grapevine that he is going to stab them in the back AND the front no less.

[purchaseatthetop] 27/7/2022 19:21

Yes. But apart from THAT how did you enjoy the play Mrs Lincoln?