Ironveld Share Discussion Threads

[purchaseatthetop] 10/10/2023 10:42

Selling is still at 0.24 like yesterday but the MMS have shifted the spread. It was the 5m sell yesterday at 0.225 that is still being felt.

[ladeside] 10/10/2023 10:31

We've dropped about 10% off the back of only about 7 Million worth of sells, totally ridiculous !!

The trading (or lack of it) would suggest that a few people have just got bored and sold up, but certainly nothing about ITK etc.

[purchaseatthetop] 10/10/2023 09:26

That’s because it reminds everybody that IRON mine nothing but PIs pockets.

[aceuk] 10/10/2023 09:24

Every time they Tweet the price drops!

Today talking about vanadium and batteries

[ladeside] 09/10/2023 10:38

Is this ENET or Ironveld we're talking about ?

In fairness it's easy to be a "basher" on AIM, since virtually every company has screwed over shareholders, have BOD's that are strangers to the truth and who feather their own nests and who are more than happy to screw over the PI in favour of their CITY mates. However it's just about finding the right timing to buy and sell and almost every single one will give you that chance at some point or other, it's just finding the right one with the right timing.

Ultimately we're all gamblers and we're all here trying to make a few quid so if it all goes pear shaped here or elsewhere then we've only got ourselves to blame as we all know ( or certainly should do) that it's the wild west out there with little to no regulation but as I say, it is what it is.....

[dead duck resources] 08/10/2023 19:12

The management looks pretty bad also, in particular the CEO with advisory background
in the city.

[texaschaser] 08/10/2023 09:33

The chart is awful. The fundamentals look bad. Better opportunities out there

[tomtum1] 07/10/2023 15:47

Alright Patt, I just think there is a bit of irony slapping other people's investments. I see now why you seem to have a hate club on other threads.

[purchaseatthetop] 07/10/2023 11:05

I am not criticising anybody’s investment decisions. I got ENET wrong. I admit that. Does that mean I have no more to say?

[tomtum1] 07/10/2023 10:59

Just looking at the charts, you really have no credibility to be critical of other people's investment decisions.https://uk.advfn.com/stock-market/london/ethernity-networks-ENET/chart/real-timehttps://uk.advfn.com/stock-market/london/ethernity-networks-ENET/chart/real-time

[purchaseatthetop] 07/10/2023 07:56

Nothing wrong with commenting on shares that you are interested in. ENET will be fine. Thanks for your kind thoughts.

Oddly I am flying back to my place in Italy 26/10. Looking forwards to it.

[villagepidgeon] 07/10/2023 06:17

Yeah tomtom.. but he has a massive villa in Italy 😂😂

[tomtum1] 06/10/2023 23:42

Patt the last 6 months performance on share price IRON v ENET (your share)It seems you are going round bashing everyone else's shares as your own have completely collapsed.You will forgive anyone here for thinking you are just being bitter.Looking at your buys it seems the best thing to do is the opposite to what you say!

[purchaseatthetop] 06/10/2023 18:52

The bit I find sadly funny is this part of the last RNS:

"Direct Funding Discussions

As announced on 30 March 2023, the Company reported that it was aware that Grosvenor Resources (Pty) Limited ("Grosvenor") was in talks with potential funders to facilitate its investment transactions. An institution introduced by Grosvenor is now in direct funding discussions with the Company and the Company will provide a further update when appropriate."

Doesn't give much hope on any new funding ever arriving if Grosvenor introduced them*

*all you need to do is sent this amount to this bank account in Nigeria please.....

[ladeside] 06/10/2023 18:22

That's fair enough.

[al101uk] 06/10/2023 16:54

I didn't say the debt was onerous :-)

The only terms I can find are these:

"Ironveld has agreed to purchase a total of £5.75 million of outstanding debt from the sole creditor, payable as £0.75 million upon completion and £5.0 million over 10 years based on a share of profits from the smelter facility capped at 13.5 per cent per annum."

Hard to work out what that means, "over 10 years", but only from profits, so what happens if the company don't make the requisite profits to pay down the debt over 10 years?

13.5% of what? revenue, profits, debt repayable?

If Ironveld aren't profitable (enough) for the first couple of years, how does the cap work? Or is it a minimum cap rather than a maximum cap?

If the payment of the debt is being delayed for 18 months while Ironveld refurbish the smelter and begin production, then a 13.5% cap would fit as a minimum to ensure full payment by the end of Year 10. Would they call that a cap? It would be very misleading, but given we don't know what 13.5% is, I have no idea!

What kind of profits are we talking about? Gross profit, Operating profit, smelter profits? Parent company profits, EBITDA?

Any interest payments? Doesn't look like it :-/

Late payment fees? Default terms? Restrictions on their ability to raise future debt funding?

I can't say the debt is onerous, but it's certainly another black box that the company are far too vague about and therefore something I would consider a greater than minimal risk.

Does the share price compensate for that risk? Depends, I can understand both sides of that particular argument.

For me, until I'm clear on the profitability and the companies ability to service it's debt, I'm sitting on the sidelines which means if I take a position it will definitely be at a higher price that Ironveld is at now.

[ladeside] 06/10/2023 14:39

No company goes from explorer to producer without mass dilution or future profitability issues (along the lines of what Align were chasing), we've chosen the former but that leaves us better equipped for the future imho.

[purchaseatthetop] 06/10/2023 13:36

It’s sort of “well apart from that MRs Lincoln, how did you enjoy the play?”

[ladeside] 06/10/2023 13:27

Not as such, the £5 Million owed is due back on "profits" capped at 13.5% P/A over a 10 year period.

I wouldn't count that as "onerous" as I have already stated.

Whatever way anyone wants to dress it up, there's minimal risk but huge upside to be had at current share price levels.

[al101uk] 06/10/2023 13:15

Didn't they borrow for the smelter acquisition?

[ladeside] 06/10/2023 11:10

You know what I mean, not to mention that it's a facility to draw down funds as opposed to a straight 500k hardship loan !!

The main point here is that we have no onerous debt repayments to meet and any capital required is being easily provided by "friendly" lenders such as BOD at very fair rates.

We just need the powder situation dealt with one way or the other and confirmation that we're producing and selling our products as planned, if we get that then we should rocket.....

[purchaseatthetop] 06/10/2023 09:51

Has no debt? 18/9/23 RNS was a loan from Directors of £500k as it had no cash.

[ladeside] 05/10/2023 12:10

We're virtually at an all time low which is shocking for a company that is funded, is producing, has no debt and is about to expand rapidly !!

Our Directors are also heavily invested at prices much higher and there is lots of positive updates in the pipeline.

Compare this to a couple of years ago when uncertainty ruled the roost !!!