Ironveld Share Discussion Threads

[citys2874] 02/7/2024 08:18

blue opening start

[citys2874] 02/7/2024 08:18

BUY rating given by british bulls

[citys2874] 02/7/2024 08:06

expect iron to rally this week

[malcolmmm] 02/7/2024 00:19

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 22:25

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 16:28

Tracarta Ltd and Catalyse Capital Ltd funding

[citys2874] 01/7/2024 16:25

could see this open 0.08 tomorrow

[citys2874] 01/7/2024 16:15

In the top 4 risers on the leaderboard

[citys2874] 01/7/2024 16:14

volume crossed 24 million strong buying pressure

[dillydally2] 01/7/2024 16:10

New placing coming at low price get out of this dog

[dillydally2] 01/7/2024 16:10

Placing tomorrow and dump time

[citys2874] 01/7/2024 16:09

up 25 percent

[citys2874] 01/7/2024 16:06

mms moving on up should move above 0.05+ very soon

[citys2874] 01/7/2024 16:04

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

[cocorico2009] 01/7/2024 16:00

DD2

How's your JAY short going

[citys2874] 01/7/2024 16:00

in the top 5 risers on the leaderboard

[dillydally2] 01/7/2024 15:58

Placing on the wyab

[dillydally2] 01/7/2024 15:58

New placing coming at low price get out of this dog

[citys2874] 01/7/2024 15:58

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

[dillydally2] 01/7/2024 15:58

Placing coming

[citys2874] 01/7/2024 15:56

in the top 10 leaderboard risers now

[citys2874] 01/7/2024 15:54

up 18 percent moving up swiftly