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IRON Ironveld Plc

0.00 (0.0%)
Last Updated: 08:00:00
Delayed by 15 minutes
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
  0.00 0.0% 0.215 110,000 08:00:00
Bid Price Offer Price High Price Low Price Open Price
0.21 0.22 0.215 0.215 0.215
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Scrap & Waste Materials-whsl -806k -0.0003 -7.00 5.52M
Last Trade Time Trade Type Trade Size Trade Price Currency
11:34:06 O 60,000 0.212 GBX

Ironveld (IRON) Latest News

Ironveld (IRON) Discussions and Chat

Ironveld Forums and Chat

Date Time Title Posts
06/12/202317:49Ironveld plc8,093
13/7/202214:53Who are the real turkeys?1
10/2/202112:59The Iron Ore thread57
03/2/202019:05Ironveld...possible bid for all assets at good premium to price ?102

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Ironveld (IRON) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-06 17:05:060.2110,000,00021,250.00O
2023-12-06 15:34:260.213,583,3337,525.00O
2023-12-06 14:33:040.215,000,00010,500.00O

Ironveld (IRON) Top Chat Posts

Top Posts
Posted at 07/12/2023 08:20 by Ironveld Daily Update
Ironveld Plc is listed in the Scrap & Waste Materials-whsl sector of the London Stock Exchange with ticker IRON. The last closing price for Ironveld was 0.22p.
Ironveld currently has 2,628,958,000 shares in issue. The market capitalisation of Ironveld is £5,520,812.
Ironveld has a price to earnings ratio (PE ratio) of -7.00.
This morning IRON shares opened at 0.22p
Posted at 07/11/2023 16:13 by al101uk
Just on the warrants and why they matter...

If I can buy shares at 1p and those shares are effectively an option (double or bust). I can calculate the likelihood of success and work out if the investment is worthwhile.

If I paid 1p per share for a 50% chance of doubling my money and a 50% chance of losing it, there would be no expected return on investment.

If I get the same 1p share, but add a warrant that I can exercise at 1.1p then my gain on a win doubles. So a loss shows a 1p loss, while a win shows a 2p gain. That's a 50% expected return for JW vs a 0% expected return for a regular PI.

Obviously I'm using easy numbers and rounding to keep it simple.

An investment in Ironveld is an option on them making it to profitability, JW's willingness to to put further money in is a sign that the Ironveld is not a dead company walking, but I think it's worth remembering that his gains on success are outsized compared to a PI's and he's being potentially somewhat compensated through his chairmans compensation in the meantime.

Obviously my first post is opinion based and this one is dependant on your own expectation of success and risk appetite, so it's still perfectly possible to make the argument that Ironveld are justified not putting numbers around the smelting costs and that the channce of success and the gains on success are far greater than 100%, you can even re-define what success looks like. I'm just explaining how I'm thinking about Ironveld currently and why JW's investment is different to regular PI's.

Anyway, unlikely I have anything else to say until they publish more detail or get more done.
Posted at 02/11/2023 14:13 by ladeside
Cutting through all the maybes aye, maybes naw type of stuff, the fact remains that the company is likely to be sold for £30 MILLION + which is an increase of over 300% on today's share price

We all know that the project as we stand is struggling to break even (that was always expected), however the distinct possibility of funding for the Iron powder and the proposed addition of the 75mw smelters is where the money is, we all know that. We also know that there's major profit to be unlocked if and when this can be achieved, however most of us also realise that this is WAY beyond a company of our size.

The bottom line is that people itk are stocking up at these levels in the distinct likelihood that either the whole project will be taken out by a major or that there will be a farm out of 75%+ which would allow the project to advance at pace.

I've often said that I don't expect pie in the sky figures and I also agree that lots of long termers are likely to lose out as purchased at much higher levels but as we stand right now £30 Million and above is a distinct possibility (0.75) but the question would be if JW etc would even accept that (and he's in a position to know the REAL value).

I think it should also be pointed out that the £500k facility provided by the Directors and the subsequent £1 Million placing announced last week should be viewed as positive rather than negative as it removes any doubts for the next few months and also proves that the company can raise cash easily enough from it's existing holders.

As I say, things aren't perfect but the company is moving forward and I'd expect a positive re-rate sooner or later and even a left field take out bid wouldn't surprise me in the slightest.....
Posted at 26/10/2023 10:48 by dead duck resources
Not sure why Ironveld needs an executive chairman rather than a non-exec chair (as one would expect in appointing a shareholder to the role). The answer imho is Iron doesn't need it but Giles was only taking £50k a year. When it came to negotiating the placing price 'at a premium', Wardle's deal to get cashback via salary requires more than £50k.

The CEO is taking £175k, what will Wardle's pay packet be in the new exec role, £125k?
If it's exec in name only, we can offset the difference between the non-exec chair and exec chair pay packets (c.£75k/year) to calculate the true price paid for these shares.
Posted at 06/10/2023 22:42 by tomtum1
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!
Posted at 06/10/2023 15:54 by al101uk
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.
Posted at 01/9/2023 14:24 by ladeside
DMS Magnetite project - No cost or technical risks

On 27 January 2023 Ironveld’s subsidiary, Ironveld Mining, and Pace, a South
African company specialising in supply chain solutions and trading in DMSgrade magnetite, entered into the IPace Joint Venture Agreement (‘IPace’) as
equal partners to produce and sell Dense Media Separation (‘DMS’) grade
magnetite from Ironveld’s mine in Limpopo, South Africa. Although not
central to the Group’s business plan for production of High Purity Iron (‘HPI’)
plus vanadium and titanium in slag, it offers potential for an important extra
source of revenues with no upfront cost or technical risk for Ironveld
shareholders. The JV’s amended structure retains Ironveld’s ability to mine
and sell additional ore, including ‘fines’ that would otherwise not be suitable
for the Group’s Rustenburg smelter, to IPCAE on a ‘cost plus’ basis, while
benefitting from a share of expected future positive cashflows.
SEAM and Pace have both introduced significant offtake customers to IPace,
through which forecast tonnage volumes are now approximately double the
level envisaged early in 2023 when the JV was first created. Based on the new
participations, the Board sees a negligible overall effect on the projected
positive accruals to be collected by Ironveld. Given also that the revised
upfront capital requirement proposed by SPH for a smaller and more efficient
plant, which minimises unused capacity versus the original design, is lower
than the c. ZAR 35 million (£1.65 million) that was originally planned by Pace,
based on anticipated sales, the period required for capital repayment should
also be reduced, which in turn advances the first expected payments to IPace.
Ground and civil works at the site are said to be progressing well, with plant
installation expected in around one month which, in turn, suggests maiden
sales should be confirmed some four to six weeks following that.
Posted at 07/7/2023 08:41 by rec0very stock
The most critical factor in the sensitivity analysis I did on those figure was the price received for HPI - it was assumed to be $900 per tonne (20Kt =$18m of that $20m) which is a massive premium to pig iron prices, which are about half that:

IRON recently sold its first batch of HPI and chose not to provide any information as to what they got for it. Given how this company and other GC companies operate with regard to not properly informing the market iaw AIM rules, it is reasonable to assert that the price received was significantly below the price assumed in the note and presentation.

Failing to provide proper information by RNS, but putting out a tweet claiming "with estimated annualised profitable revenues of c. $20 million by Q3 2023." is exactly iaw the company's play book for deceiving investors and is therefore another strong indicator that the cash raised earlier this year is being burned through at an alarming rate and another fund raise will be required later this year, if the company is to avoid yet another going concern emphasis of matter in its accounts in December. Remember who predicted the one last December from about this far out.

Smelter debt repayments are due to start in 2024. IRON got the smelter in the first place because the previous owners could not pay their debts.
Posted at 11/4/2023 08:29 by ladeside
JOHANNESBURG, South Africa, April 10, 2023 (GLOBE NEWSWIRE) -- Enernet Global ("Enernet") remains on-track to deliver a full-hybrid system for the Ironveld Smelting ("Ironveld") Rustenburg smelter complex in South Africa, having already provided start-up generation required.

Following the successful implementation of a 1MW temporary power plant commissioned in late 2022, Enernet has deployed the first of four stages of power upgrades for the Ironveld. The first stage involves a 4MW power plant that enabled ‘Hot Commissioning’ of the first of three planned operating furnaces. This process included smelting of test quantities of magnetite ore in order to produce HPI and titanium slag. Working in a close partnership with Ironveld and their sub-contractors, Enernet managed the rapid delivery of the first stage power with no safety or environmental incidents. Despite the inherent challenges of labour and equipment shortages due to countrywide stage four load shedding, the project was completed in less than 10 days.

Delivering the fast-tracked power involved road freight conveys from Johannesburg, a 90-tonne crane and a site crew of up to 20 working around the clock to deliver the much needed power in a record time. Enernet's Vice President Engineering, Dusan Nikolic led the onsite pre-delivery electrical safety tests and inspections. "The delivery of stage one power was a combined effort between Ironveld and Enernet, the quality and speed at which the work was completed is a testament to how well the two companies worked together as a team."

Enernet are now progressing multiple work packages in preparation for the future stages of power upgrades which will boost the on-site power capacity for the operation of three of the furnaces). These upgrades will enable the smelter complex to process approximately 40,000 tonnes of Ironveld's magnetite ore per annum which, in turn, will provide 20,000 tonnes of high purity iron, 190 tonnes of vanadium in slag; and 3,800 tonnes of titanium in slag.

Ironveld Smelting's CEO, Thamaga Mphahlele, commented "Our partnership with Enernet is working extremely well and is provides us with the confidence we need execute our expansion plans over the coming months."

Imminently, work will begin on the design and construction of both rooftop and ground mounted solar power systems with a combined capacity of 6MW, for which Enernet's power engineers are working with South African-based contractors.

The final stage of power implementation will comprise a hybrid of energy technologies including solar power, a battery energy storage and clean burn, liquefied natural gas generators.

The solar system, battery storage and LNG generators will be fully-funded by Enernet and once operational, power will be purchased by Ironveld under a 20-year energy services agreement. "The team at Ironveld have a 'can do' mindset which aligns with our business culture and has been key to completing the project milestones safely and on time," Enernet's Business Development Manager, Martin Smith concluded.
Posted at 25/2/2023 10:31 by hedgehog 100
Rec0very Stock 2 Jan '23 - 10:49 - 7396 of 7603 0 1 0
" ... In the meantime read post 7369 and join the guess the parameters of the 2023 placing contest - it is just for fun.
I have 15/3/23, £1.5m and 0.1p
patt has 21/2/23, £3m and 0.14p
LADESIDE has no date, £2.2m and 0.2p"

23/02/2023 11:00 UK Regulatory (RNS & others) Ironveld PLC Placing to raise GBP2.0 million LSE:IRON Ironveld Plc
"Placing to raise GBP2.0 million
Notice of General Meeting
Ironveld plc ("Ironveld" or the "Company"), the AIM quoted mining development company, is pleased to announce a proposed fundraising of GBP2.0 million (the "Fundraising").
The Fundraising will comprise a placing of, in aggregate, 666,666,666 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares" and such 666,666,666 new Ordinary Shares being the "Placing Shares"), at a price of 0.30p per Placing Share ("Placing Price"), to raise GBP2.0 million before expenses (together, the "Placing").
280,000,000 of the Placing Shares (the "First Placing Shares") will be issued out of authorities granted to the Directors at the Company's last annual general meeting (the "Firm Placing") and the remaining 386,666,666 Placing Shares (the "Second Placing Shares") will be issued subject to the requisite authorities being granted to the Directors at a General Meeting of the Company's shareholders to be convened in due course (the "Conditional Placing"). ..."

Looks like Ladeside was the clear winner here - well done.

And the placing price of 0.3p was three times higher than that predicted by Rec0very Stock; out by a whopping 200%.

That must be one of the worst predictions I have ever seen.
Posted at 30/12/2022 18:10 by al101uk
I think the fundamental change here is Grosvenor as that seems to be the plan for the working capital requirement. The only way to reach a positive outcome was to believe that Ironveld were fully funded to production on all four furnaces and could get there quickly enough to survive and generate a new narative of them as a potentially successful, profitable miner. That was a long shot, but off the back of that the hope was a placing at or close to the share price at the time and a move to get the HPI to HPIP capex spend underway.

What we have now is a company that can't afford to get all furnaces up and running without a cash injection for working capital at the very least and as a result will have no credibility going in to the next placing.

Worse, management have made themselves look terrible by pretending the Grosvenor deal was still the plan all along and that they still have confidence in it over a year after the deal was done "conditional only on shareholder approval".

That takes Ironveld from a low chance of success to no chance of profitable success for current shareholders in my view.

You can price a low chance of success as an option, the company still has value. You can't do that in the knowledge that shareholders are all but certain to be wiped out even if Ironveld manages, in some way, to succeed.

While previoulsy I could understand holders assessing odds differently to me, now I can't see any point in holding Ironveld shares at this price or any price. The only thing to do now is wait to see if they can get funding and potenially buy in the carnage that follows or if your as risk averse as me avoid until there is a clear path to profitability that the board can't obfuscate in to existence and some momentum returns to the share price. Honestly I'm not convinced that would tempt me anymore, even as an unhealthy obsession with GC that I was willing to throw beer money at, it's starting to look like the money would be better spent on beer.

Looks like a long road ahead.
Ironveld share price data is direct from the London Stock Exchange

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