Ironveld Share Discussion Threads

[iceagefarmer] 02/11/2022 09:09

After joining Amerisur resources Plc as CEO in 2007, John has led the growth of Amerisur in Colombia and Paraguay. In 2012 John was named as “Emerging Markets CEO of the Year” in the Grant Thornton sponsored Quoted Company Awards in London. Amerisur was awarded the prize of “Best Oil and Gas Company” in the UK Stock Market awards of 2015.

[rec0very stock] 02/11/2022 07:56

What no celebrations at the signing of the DPA yesterday? Only 8 weeks after they said it would be 2-4 weeks.

"subject to the fulfilment of certain conditions is anticipated to close by 30 November 2022 (the "Closing Date"). The fulfilment of the conditions in the DPA is at an advanced stage. At the Closing Date the acquisition will become unconditional."

So nothing is done and dusted still!

What are the conditions which need to be fulfilled? We are treated like mushrooms. Possibly more importantly what are the key terms of the agreement eg repayment and what happens if we don't repay. Again treated like mushrooms.

It is no wonder big boy investors have totally lost all faith in GC and with a £6m funding black hole to fill that does not bode well. Bringing John Wardle to the board is clearly an attempt to shore this up. However he has no magic wands and his own track record is not unblemished.

Keep averaging down at these crazy prices.

[tommygriff] 28/10/2022 12:31

Probably align?

[ladeside] 28/10/2022 10:34

Oh you ARE such a bitter little man......

[ladeside] 27/10/2022 20:10

If someone is offloading then good, at least the high volume makes a market and provides the liquidity to turn the shares over, surely that's the point ??

Paint as many grim pictures as you wish but so long as phase 1 gets off the ground (and that looks 95% certain) then I think it will be time for you to retire gracefully.......

[rec0very stock] 27/10/2022 19:23

Looks to me as though someone with a lot of shares is taking advantage of small PI optimism to offload in fairly sizeable chunks.

Who will be proved right, naive overly optimistic PIs or big boy?

The company can't hide the massive funding black hole forever.

[ladeside] 27/10/2022 17:55

The recent ones are Dave, but like you, I've still quite a batch of higher priced ones dragging on the old average !! At least we're moving in the right direction though and there seems to be quite a bit of interest being generated.

Looking at the long term plans and assuming phase 1 goes to plan, then I really can't see us getting anywhere near phase 3 and the group of 75mw smelters.

My own thoughts would be that we prove up phase 1, start on phase 2 and at this stage we'd be well on the radar of the big boys and would undoubtedly be taken out for a decent premium.

Still lots of imponderables of course but at least we're seeing some Blue for a change !!!

[bigwavedave] 27/10/2022 13:16

Your recent buys are looking good now, Ladeside.
I have a bit further to go! :-/

[ladeside] 26/10/2022 17:39

I'd imagine the "signature" will be appearing soon then going by that.

[aceuk] 25/10/2022 16:55

Making sure everything's going to plan - LOL!

[malcolmmm] 25/10/2022 07:42

I did mean historically ,cheap money comes back to bite you when interest rates inevitably rise

[purchaseatthetop] 24/10/2022 16:04

Malcolmmm. Mortgage rate is 6 or 7% on 2 to 5 year fixed.

[malcolmmm] 24/10/2022 08:18

Mortgage rate should be 6 or 7% . House prices need to crash by at least 30% to return to normality. Ridiculously low interest rates and quantitative easing have ruined this country

[al101uk] 21/10/2022 22:11

I'd respond, but I think the world is ending and I don't have words anymore.

I'm voting for th f'kin lettuce in the next election... best vegetable for the job.

[aceuk] 19/10/2022 22:59

That's if the government survives til Halloween ;-)

[al101uk] 19/10/2022 20:19

Ace,

"UK banks are steeling themselves for a windfall tax by stealth as the new chancellor, Jeremy Hunt, tries to plug a £40bn hole in the public finances."

Told you so :-)

[rec0very stock] 19/10/2022 19:13

I can see the DPA being signed. It will have a Lien over the smelter so the creditor can repossess in 2 years time when IRON has no cash to pay the debt and will then have a refurbished smelter to sell to someone else to get its money back - all creditors actually care about.

Al, proper mining companies produce proper DFSs so they know how much is needed and then raise all they need through a mix of debt and equity. IRON is not a proper mining company which is why it is in the state it is in.

When the annual report comes out with a going concern emphasis of matter due to the Black Hole will those who have been averaging down in denial admit I was right yet again?

[ladeside] 19/10/2022 16:06

So, IF the DPA is signed in the next few weeks will Pat and Recovery change their tune and become Bullish ??

I can't wait to see that.....

[purchaseatthetop] 19/10/2022 04:49

The deal with the only creditor will not be done imo until they have sufficient cash to complete the development. Why would the creditor accept future new complications and legal issues when they know at least the project cannot complete?

I do not expect this to go ahead. But we will see. Any delays with Iron mean just one thing. Nothing happening.

[al101uk] 19/10/2022 01:18

Even assuming you're right and it's worse than even you think, they need £10 million in additional funds. Isn't it arguable that those funds would be better raised after the fight with their largest investor is put to bed and after the smelter is acquired and refurbished, when the project has been somewhat derisked?

[al101uk] 19/10/2022 01:02

"Al of course I could be wrong... it could be a £5.5m black hole or a £6.5m black hole"

lol... and they still have to pay off those pesky locals aswell don't they?

"Is it better to act on imperfect information"

Aren't we always acting on imperfect information, that's the definition of investing isn't it?

"or wait until the worst is confirmed"

Facts are confirmed... it's so easy to be bearish, constructive & modest. Even "two out of three aint bad" or so I've heard.