Share Name Share Symbol Market Type Share ISIN Share Description
Ironveld Plc LSE:IRON London Ordinary Share GB0030426455 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.035 4.58% 0.80 6,397,793 13:44:43
Bid Price Offer Price High Price Low Price Open Price
0.78 0.82 0.80 0.765 0.765
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -1.02 -0.16 11
Last Trade Time Trade Type Trade Size Trade Price Currency
16:20:55 O 93,188 0.792 GBX

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Ironveld Daily Update: Ironveld Plc is listed in the Mining sector of the London Stock Exchange with ticker IRON. The last closing price for Ironveld was 0.77p.
Ironveld Plc has a 4 week average price of 0.52p and a 12 week average price of 0.52p.
The 1 year high share price is 1.50p while the 1 year low share price is currently 0.34p.
There are currently 1,316,440,372 shares in issue and the average daily traded volume is 17,464,592 shares. The market capitalisation of Ironveld Plc is £10,531,522.98.
abeygale: From your point of view I am very lucky being with IG Index since they cover IRON. IG will even let you close out IRON at the full price, even when the market markets are not accepting any sells. The same for buying. That is what I love about spread betting is the fact you never have to pay a premium, or sell for less than the quoted price. The only downside is you can not sell or buy during an auction unless you put an order in. There has been one occasion when my sell in Petrel Resources was rejected, and then later they somehow accepted at the same price.
brut winky: Explains the selling pressure, wonder if they are closing the whole position, also if they buy shares with the proceeds. GLA
city analyst1: • Ironveld owns significant High Purity Iron, Vanadium and Titanium assets in the Bushveld Complex, South Africa. • These assets continue to demonstrate robust economics and have a potential value many times in excess of the company's market capitalisation and balance sheet carrying value. • Talks are currently at an advanced stage with a major partner seeking to take a strategic equity stake in the company at a premium to the current share price. The Directors are hopeful of being able to conclude a meaningful transaction in the coming weeks. • The company’s current cash pile is sufficient to meet committed overhead expenditure until early 2022. • The company’s NAV (Net Asset Value), as at December 2020, is £21.5m (or 1.6pence per share) • The company’s current market cap is £8.62m (or 0.655pence per share). So, at 0.655pence per share (£8.62m), and less the company's current cash balance of £850,000, means the market is valuing Ironveld’s HPI, Vanadium, and Titanium assets at a paltry £7.7m! And compare that valuation to its audited NAV of £21.5m and you’ll soon realise we have some miles to cover in terms of attaining a reasonable valuation. Also, and as is often the case with these type of negotiations (like KZG), the 'major partner' is most likely being 'encouraged' (by GC) to pitch their entry closer to the NAV than away. To this end, I'll wager a hat full of guineas that the entry price will be between 1pence and 1.6pence per share. Profoundly undervalued. AIMHO.
al101uk: As I understand it spread bets are covered a number of ways. 1. They are hedged in the market by the company taking the bet. 2. They are matched against bets in the opposite direction. 3. They are left unhedged and the company assumes the risk. The position may not be covered immediately and a risk manager tends to make the decision on what happens and how it happens. I'm guessing, for a company taking large bets on index moves, a position in Ironveld is unlikely to move the needle much and there is a cost to hedging. Equally though, they won't want to take on unnecessary risk. You've also got to consider that it's easy to move the market on Ironveld (or was when I held). Why would a spread bet company take a position that it can't cover without causing that position to move in to the black (infinite money machine right there). I'd assume the answer lies with a little of all three of the above, may change over time, but is likely to set a limit on any decline rather than send the share price skywards.
ladeside: Ironveld plc @IronveldPLC · 8h #Ironveld is looking to produce 40,000tpa of iron powder (as a water atomized powder), from its 32Mt resource of high-purity #iron, catering to the growth in demand from the #automotive industry. This powder form is often preferred as it enables better performance levels $IRON
dealer66: Thanks for reply. I have been in GC comp before ,Kennedy ventures now KZG but was unfamiliar with AMER story . Tracarta were frequent traders in that pre name change, it was a good trade for me 3p to 12p. More luck than judgement I add . I know the board have a lot of shares 2-5p in iron , always a good sign as nobody like to loose money even millionaires . I notice martin CEO gets a tranche of shares early January as well , another good incentive to get a deal across the line. I had my eye on iron at 1p but didn't quite have the funds free , so had a somewhat lucky escape. I'm hoping they walked away so to negotiate a better deal with iig or a new third party . I see the share price now as a massive opportunity & after the years of drifting share price . The fact align are buying is in my eyes a very very good sign. With the resource iron have on a jv /finance deal I think it could very easily replicate the AMER rise . In fact it wouldn't shock me if this went 5-10p if such news did land, one reason why i prefer to be in now with a nice pot and double up on confirmation . Fingers crossed eh !!
ladeside: Hi Dealer, Yes, Amerisur was an oil company based in Colombia which was also GC & NH, as an aside the former Amerisur CEO (John Wardle) is also heavily invested here through his investment vehicle Tracarta and at much higher levels / averages than the current share price Amerisur was recently sold and many long termers weren't exactly ecstatic, however with hindsight GC got a decent price under the circumstances. To cut a long story short, Amer had dropped from around trading ranges of 14p - 18p down to a low of 2p, however when many thought the writing was on the wall, GC pulled off some excellent deals (and subsequent successful drills) and the price began to rise steadily. After a couple of years the share price ended up stable at the 38p - 44p trading range, it had a stint up in the 60's as well and even touched the 90's intraday at one point. There were quite a few of us did very well (although could have been better if timing our trades a bit better) but that's always the case. Don't get me wrong, there were broken promises and failed plans along the way and there's no doubt that GC has his faults and like all AIM bosses tends to treat the PI with more than a hint of contempt, however I'd be inclined to trust both he and Harrison more than many others and ultimately if they expect to make money then we can expect to make money, which I suppose is all any of us can hope for.....
ladeside: Why would it go to 0.3 ? The reason there was a drop below 1p initially was due to the uncertainty over funding, however the 0.3 placing (while very low) DOES provide security and working capital for up to 18 months, as such the company is now in a position of strength with regards to striking a deal for it's prized asset. The Directors accepting a salary conversion price of 1.48 also underpins the share price to an extent and offsets much of the dilution, as such we're now in a far better position than we were when we were giving half of the company away to IIG at a price of 0.42 which still saw the share price settled around the 1p mark. However, don't let the facts get in the way of a good de-ramp...........
ladeside: The thing that really rankles with me is that the share price was stable at around the 1p range for a 7 month period between May and November, as such it would have been easy to have got a placing away at say 0.60 at this time, which was still giving a 40% reduction on the share price but not causing anywhere near as much dilution or bad / ill feeling towards the company, however it's patently obvious that our Directors are acting for themselves and their friends as opposed to the shareholders. I suppose I should know better by now having been stung on multiple occasions in the wild west corrupt Aim market, however you always think the next time will be different, so shame on me I suppose. Having said all this, there's no chance the company will be going down the drain anytime soon, however the question now is what is a good price to sell ? and is there still a serious investment case to be made ? There's no doubt that the Directors and their chosen few will make a killing here, so I guess the question is do I buy more and average down ? Do I hold ? or do I sell up in a rage ? I think I'll leave it for a few days to calm down and then assess the situation from a rational perspective as opposed to an angry emotional one !! Anyway, Good luck all, irrespective of your decisions....
friars3: Ironveld Plc ("Ironveld" or the "Company") Strategic Partnership and Conditional Fundraising to raise US$3.2 million Ironveld is pleased to announce a new strategic partnership with Inclusive Investment Group ("IIG") as part of which the Company has entered into arrangements to raise potential total gross proceeds of approximately £2.7 million (US$3.2 million) (the "Fundraising"). The Fundraising comprises: · an option agreement between the Company and IIG (the "Option Agreement") pursuant to which, on grant of the Option (which is conditional), IIG can subscribe (the "Subscription") for 440,176,070 new ordinary shares in the capital of the Company (the "Subscription Shares") at a price of 0.42 pence per Subscription Share (the "Issue Price") (the "Option"); and · a term loan from IIG of US$1,000,000 (approximately £840,000) (the "Loan Facility") to be entered into on completion of the Subscription. The Loan Facility will be capable of conversion at the Issue Price. The grant of the Option and the Fundraising in general are wholly conditional on shareholder approval being granted at a general meeting of the Company (the "General Meeting") and to the Takeover Panel granting a Rule 9 Waiver*. The Company will publish a circular together with a notice to convene the General Meeting in due course. Under the terms of the Option Agreement, exercise of the Option must occur on or prior to 17 June 2020. Should these conditions not be met, then the Fundraising will not proceed. Highlights · Total fundraising package agreed of US$3.2 million (approximately £2.7 million) consisting of US$2.2 million (approximately £1.85 million) equity and US$1.0 million (approximately £840,000) loan from IIG; · IIG is an investment vehicle associated with Mcebisi Jonas and Monwabisi Twantwa in South Africa and is at the forefront of securing development for South Africa's coming wave of battery and strategic metals projects; · Following completion of the Subscription and the issue of the Salary Shares (as detailed below) IIG will own approximately 36.0 per cent. of the Company's issued ordinary share capital to become Ironveld's largest shareholder and will provide expertise and utilise its extensive African connections to secure the larger scale funding required by Ironveld to develop its near term high purity iron, vanadium and titanium project; · IIG has agreed to pay Ironveld an option fee of US$250,000 (approximately £210,000), (payable within 3 days of the date of the Option Agreement) with such funds to be deductible from the eventual Subscription proceeds. This fee is non-refundable unless the Rule 9 Waiver is not granted or the resolutions are not approved at the General Meeting, in which case the fee would be repayable in full; · The Issue Price of 0.42 pence per new ordinary share of 0.1 pence represents a discount of 17.9 per cent. compared to the 20 day VWAP of 0.5113 pence and a premium of 5.0 per cent. to the mid market price of 0.40 pence on 27 March 2020, being the last trading day prior to this announcement; · IIG has agreed to extend a loan of US$1,000,000 (approximately £840,000) to Ironveld on completion of the Subscription. The Loan Facility will attract interest at a rate of 8 per cent. per annum, will be repayable 24 months from the date of drawdown and convertible at the option of IIG at the Issue Price. Should IIG choose to convert the loan and all accrued interest at the end of the loan term (and also assuming no further shares are issued by the Company other than those included in this announcement and constant exchange rates), they will be issued with a further 233,373,349 shares, taking its holding to 46.8 per cent. of the Company's issued share capital; · Ironveld and IIG have agreed that IIG will nominate two non-executive Directors to Ironveld's Board following completion of the Fundraising. Ironveld and IIG's relationship will be governed by a relationship agreement between the two on normal commercial terms limiting the ability of IIG to dictate Ironveld's strategy and board composition; · In addition, certain Ironveld Board Directors have agreed in principle, conditional on completion of the Fundraising, to capitalise substantially all of their historic deferred salaries and fees (totalling approximately £543,000) for 129,195,548 new ordinary shares in the capital of Ironveld (the "Salary Shares") at the same Issue Price of 0.42 pence; · The 440,176,070 Subscription Shares and 129,195,548 Salary Shares (together "New Ordinary Shares") will represent approximately 46.6 per cent. of the Company's enlarged issued ordinary share capital. Martin Eales, Chief Executive Officer of Ironveld, said: "This fundraising and strategic partnership mark a significant milestone for the Company which we believe will allow us to commence unlocking value from our Project. "We are delighted to be working alongside IIG as our strategic partner and have no doubt that together we can capitalise on Ironveld's huge potential. We look forward to keeping the market updated on our progress." Giles Clarke, Chairman of Ironveld, said: "This agreement is the culmination of a great deal of hard work by Martin Eales, Peter Cox and the team. I am very grateful to them. "We are delighted to welcome IIG as a shareholder and most importantly Mcebisi Jonas and his colleagues who are immensely well equipped to transform Ironveld's fortunes and lead the development of the project." Reasons for the Fundraising and use of proceeds The Company has not yet been revenue earning and therefore requires a certain level of funding to cover essential running costs and overheads, which the Fundraising proceeds should provide for until cashflows can be successfully derived from Phase 1 of the Company's development project. The substantial investment in Ironveld by IIG represents an exciting opportunity for Ironveld to bring on board a credible and serious partner to help drive its strategy, with relationships at the highest levels of South Africa's funding institutions. The Company will look to utilise IIG's expertise in order to secure the broader financing required to bring the Company's project into development. Information on IIG IIG is a South Africa based investment group focussed on Africa. The group has interests in multiple sectors and has a particular focus on strategic metals and minerals within the region. The company has identified Ironveld as a near-production vehicle that it believes can accelerate into a leading strategic / battery metals player in the region. IIG was founded by Mcebisi Jonas, the current Chairperson of multinational mobile telecommunications group MTN, and Monwabisi Twantwa. Current trading and Prospects Ironveld expects to release its interim Financial Statements to 31 December 2019 following this announcement. There was no trading in the six months to 31 December 2019 and a normal level of operating overheads was incurred. Details of the Option Agreement Ironveld and IIG have entered into the Option Agreement which has the following key terms: · IIG has agreed to pay Ironveld an option fee of US$250,000 (approximately £210,000), (payable within 3 days of the date of the Option Agreement) with such funds to be deductible from the eventual Subscription proceeds. This fee is non-refundable unless the resolutions are not approved at the General Meeting and / or the Takeover Panel does not grant a Rule 9 Waiver in respect of the Fundraising, in which case the fee would be repayable in full; IIG will, subject to the satisfaction of certain conditions, be granted a call option pursuant to which it can compel the Company to issue the Subscription Shares. The grant of this option is conditional upon the passing of the resolutions to be proposed at the General Meeting and the Takeover Panel granting a Rule 9 Waiver in respect of the Fundraising. IIG must exercise this option on or prior to 17 June 2020; and · The grant of the option to IIG is conditional on the Takeover Panel granting a Rule 9 Waiver and on resolutions being passed by the Company's shareholders at the Company's General Meeting regarding this Rule 9 Waiver and to enable the Subscription Shares to be issued at the Issue Price, given that this is less than the nominal value of the Company's existing ordinary shares of 1 pence each. Details of the Loan Facility Ironveld and IIG have the terms of a Loan Facility which is to be entered into at completion: · Unsecured loan of US$1,000,000 (approximately £840,000) to be made by IIG to Ironveld to be drawn down in one tranche following completion of the Subscription; · The loan amount attracts interest at a rate of 8 per cent per annum and will be repayable 24 months from drawdown, extendable by mutual consent; · The Company may elect to repay some or all of the Loan early without penalty; · The loan amount will be convertible at IIG's option at the Issue Price of 0.42 pence, should IIG choose to convert the loan and accrued interest at the end of the term (assuming constant exchange rates), they would be issued with a total of 233,373,349 new ordinary shares; and · The Company will give standard representations and warranties to IIG pursuant to the Loan Facility. General Meeting and Shareholder Approval Shareholder approval will be required for the Option to come into effect and to allow any New Ordinary Shares to be issued pursuant to the Fundraising. Resolutions required at the General Meeting will include: a) a Rule 9 Waiver Resolution, in accordance with the provisions of the Takeover Code; b) by way of ordinary resolution to give the Directors authority to subdivide each existing ordinary share of 1 pence each into one ordinary share of 0.1 pence each and nine deferred shares of 0.1 pence each, with the deferred shares having the same rights and restrictions as the Company's existing deferred shares of 1 pence each; c) by way of ordinary resolution to give the Directors authority to allot the New Ordinary Shares; d) by way of special resolution to dis-apply statutory pre-emption rights in respect thereof; and e) by way of special resolution to amend Ironveld's current articles of association to include reference to the new ordinary shares, in particular detailing the rights attaching to the new ordinary shares. The Directors (representing 4.41 per cent. of the issued ordinary share capital) and Tracarta Limited (representing 12.27 per cent. of the issued share capital) have all indicated that they will support the resolutions to be put forward at the General Meeting. Settlement of Directors' Deferred fees and Salaries In view of Ironveld's constrained financial position in recent years various members of the Board have deferred a proportion of their contractual salaries and fees. In settlement of these balances certain of the Directors (other than Martin Eales who for this purpose will assume the role of Independent Director) have agreed in principle to capitalise substantially all of the outstanding balances (totalling approximately £543,000) for new ordinary shares of 0.1 pence each in the Company at the Issue Price of 0.42 pence on completion of the Fundraising. The issue of the Salary Shares to the Directors will be deemed to be related party transactions under Rule 13 of the AIM Rules and be approved in due course in accordance with the AIM Rules upon exercise of the Option. The following exchange rates have been assumed throughout this announcement, as determined by on 25 March 2020: £1.00 : US$1.19 £1.00 : ZAR 20.50 US$1.00 : ZAR 17.40
Ironveld share price data is direct from the London Stock Exchange
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