Ironveld Share Discussion Threads

[rec0very stock] 07/6/2024 10:37

No shareholders have no say and always get shafted, other secured creditors may be able to intervene, but one would presume that the deal would see the smelter go from a company with no chance of paying what is owed to a company that can at least make some payments.

[aceuk] 07/6/2024 09:23

He would need the support of other shareholders for that?

[rec0very stock] 07/6/2024 09:01

The current political situation is not conducive to a quick fire sale. I wonder if JW will do a pre pack administration to get the assets into one of his vehicles in return for what he is owed and then leave the rest of the creditors and all shareholders to go down with the hulk.

[al101uk] 06/6/2024 21:48

Package substantially reduced, still subject to due diligence and won't progress until the new political regime and policies are clear.

Yeah, that sounds like game over. The fact that they haven't even bothered to complete due diligence says a lot. I don't see how they get another share placing away in this situation.

So the only question now, barring a miracle, is when JW pulls the trigger and if he can get a few quid back from the companies remains.

[aceuk] 06/6/2024 19:48

Well past caring whether it flashes red, green or blue - now only entertainment value 😉

[ladeside] 06/6/2024 19:33

Grim stuff if not entirely unexpected, nothing has changed in as much as we're completely screwed without some sort of fundraise or asset fire sale.

The only things I'm really clinging to are the fact that JW is so heavily invested and the company also saw fit to actually bother to appoint a new CEO a few weeks back when they obviously knew the financial situation and outlook.

Oh well, time will tell, but I'm not overly looking forward to the next flashing red button, that's for sure....

[aceuk] 06/6/2024 17:33

I reckon that's the end - whoever the funder is supposed to be, they've decided to let it go and pick it up for nothing out of bankruptcy?

[rec0very stock] 06/6/2024 13:16

With so many overdue bills to pay, a "substantially reduced" debt funding package will not pay off what is owed and leave enough to fund the company through to cash generative at PLC level (something that can only happen with HPIP and even that is not guaranteed).

With even this "substantially reduced" funding delayed by many months and far from guaranteed - why lend at all when all that will happen is the cash will be frittered away in exactly the same way as previously,the company is trading whilst insolvent.

Best case is a mega diluting placing to keep the lights on a bit longer. Worse case the lights go out very soon.

[malcolmmm] 04/6/2024 00:43

Worth a small punt imo

[ladeside] 03/6/2024 13:43

I think we all know the situation, it's either a deal which saves the company or it's no deal and it's doomed / fire sale of anything we can actually sell.

Those of us who remain are just hoping that JW can pull something off (he is hugely invested himself) and I'd say most who were bailing out have now done so, as such, it's pretty pointless trying to further talk things down as the reality is pretty much there for all to see.

[rec0very stock] 03/6/2024 13:38

"As previously notified, the Company remains in discussions regarding a direct institutional funding transaction, which is currently expected to close in H1 2024"

Somebody was expecting a loan in the next 27 days.

[al101uk] 03/6/2024 12:03

Don't follow SA politics, but just read this over on Kazera:

"The choice facing the diminished ANC is pretty binary now - go with the Democratic Alliance and stay more or less pro-business, or go with their former comrades in the EFF and Zuma's mob, unfettered corruption and Zimbabwe style economic collapse"

Apparently the obvious choice is not the forgone conclusion it appears to be in that description. The Deomcratic Alliance are seen as "The Enemy", interesting times it seems, the ANC claiming they are talking to everyone.

I think you're right RS, no one's lending money to a small South African mining firm in the meantime. Not long to wait though:

"...the ANC needs to move quickly as the constitution says the new National Assembly must convene within 14 days of the election results being declared to elect a new president."

Was anyone really expecting a financing deal in the next 14 days?

[rec0very stock] 03/6/2024 10:02

The chaos likely to ensue from the South African election result makes a loan for IRON even less likely than it previously might have been in my view.

With so many overdue creditors that IRON has no way of paying it is trading whilst insolvent. The dam is likely to break in the next month.

[malcolmmm] 31/5/2024 08:29

I think the best way to deal with small miners is to buy a few to improve chances of success.One I own has done very well but a few others failed

[friars3] 14/5/2024 22:11

Anyone out there

[friars3] 12/5/2024 21:15

what is the price 0.0007 or .007

[al101uk] 09/5/2024 23:18

A 100% drop in share price required for Ironveld to become worthless. Exactly the same as it's always been.

[aceuk] 09/5/2024 18:08

The point is, anybody who's still got plenty is no longer that bothered, life goes on. Anything returned at all now is a complete bonus 🙂

[ladeside] 09/5/2024 17:12

They're already worthless if you don't have any, on the other hand if you have no interest here then you're actually wasting your own valuable time by even thinking about them and certainly posting about them, so in reality terms they're even "costing you" long after you have sold out.

Just something to contemplate.....

[malcolmmm] 08/5/2024 20:45

Not far to go before these are worthless.

[orange1] 02/5/2024 09:43

This is Kris's LinkedIn page: He has "experience on 3 continents".

[aceuk] 02/5/2024 09:09

Got international experience in .... wait for it .... corporate governance 😊

[petomi] 02/5/2024 07:40

New CEO appointed. Presumably he will have done some DD so is confident there is some sort of future and that finance can be raised.
We await further news.