Ironveld Share Discussion Threads

[ladeside] 03/7/2024 14:11

Yes Al, It's all very sketchy and pretty difficult to ascertain what is actually going on.

Despite my long term "Bullish" stance, I completely agree that things are looking grim and can see no reason why we'd suddenly receive life saving funding when we're looking down and out, as opposed to when everything was supposedly looking good ?

In a nutshell it looks like ME / GC completely overstated and then totally under delivered and we're now left in a situation where the whole project looks doomed as it appears to be uneconomical on any terms, that is, unless someone who can see a benefit comes in and buys it out for a pittance.

Either way, long termers are screwed and I suppose the toss of the coin is whether folk buying in now double / triple their cash or lose the lot.....

[citys2874] 02/7/2024 14:33

mms looking to tick up expect this week this to see a major breakout up

[citys2874] 02/7/2024 07:18

up 3 percent

[citys2874] 02/7/2024 07:18

blue opening start

[citys2874] 02/7/2024 07:18

BUY rating given by british bulls

[citys2874] 02/7/2024 07:06

expect iron to rally this week

[malcolmmm] 01/7/2024 23:19

One way to make money in aim is to buy into a number of bonbed out stocks. One of stockos best performing portfolios does this

[al101uk] 01/7/2024 21:25

Ladeside/RS,

The terms of the smelter acquisition were originally:

Ironveld has agreed with the Business Rescue Practitioners, Tayfin Forensic and Investigative Auditors ("Tayfin"), to acquire the share capital of FCF for a nominal fee and to purchase outstanding debt from the sole creditor on the following terms:
o ZAR 15 million (approximately £0.75 million) payable upon completion; and
o ZAR 100 million (approximately £5.0 million) over 10 years calculated as a percentage of profits from the smelter, capped at 13.5 per cent per annum;

I asked IR about the 13.5% and they advised that was from the profit generated by the smelter subsiduary. I couldn't get details on terms if the smelter was unable to generate profit within 12 monmths. If you go back a bit I made a post around the reply I got at the time.

Ironveld started work on the refurb, although didn't finalise the purchase and then in the notes to the last annual results they say:

Other payables includes £4,829,000 (R116,000,000) in respect of the proposed Rustenburg smelter acquisition which was unconditional at the year end but which remained subject to contract. On completion, £4,163,000 (R100,000,000) will be due after 12 months with the remainder anticipated to be due within 12 months.

So £4.16 million should appear as a non-current liability at the point the smelter deal is actually signed off and there has been no RNS to say that the deal has been completed yet. Got to admit the wording in the results is terrible.

Which leaves the mystery of the £2 million current liability added to the balance sheet unanswered.

[citys2874] 01/7/2024 15:28

Tracarta Ltd and Catalyse Capital Ltd funding

[citys2874] 01/7/2024 15:25

could see this open 0.08 tomorrow

[citys2874] 01/7/2024 15:15

In the top 4 risers on the leaderboard

[citys2874] 01/7/2024 15:14

volume crossed 24 million strong buying pressure

[dillydally2] 01/7/2024 15:10

New placing coming at low price get out of this dog

[dillydally2] 01/7/2024 15:10

Placing tomorrow and dump time

[citys2874] 01/7/2024 15:09

up 25 percent

[citys2874] 01/7/2024 15:06

mms moving on up should move above 0.05+ very soon

[citys2874] 01/7/2024 15:04

this was 0.30 1 year ago so could quad bag quite easily from todays price

[cocorico2009] 01/7/2024 15:00

DD2

How's your JAY short going

[citys2874] 01/7/2024 15:00

in the top 5 risers on the leaderboard

[dillydally2] 01/7/2024 14:58

Placing on the wyab

[dillydally2] 01/7/2024 14:58

New placing coming at low price get out of this dog

[citys2874] 01/7/2024 14:58

up 22 percent mms ready to tick up and let go very soon

[dillydally2] 01/7/2024 14:58

Placing coming