Sula Iron Share Discussion Threads

[temmujin] 08/12/2017 20:01

lets face it ZIOC was waiting for their licence for years in the congo...when it arrived they went up from 4p to 25p...but our market cap is alot lower than theirs was

[temmujin] 08/12/2017 19:57

its about time we had a share 10 bagging on an acquisition...this could be it... 1p monday

[cnrns4] 08/12/2017 19:32

Who on earth could it be?

Bought £250k worth ( 500m shares ) at 0.05p ( mates rate ) , what does he know that we don't.

Something don't add up.

Monday will be interesting that's for sure.

[the stinger] 08/12/2017 19:26

In effect double the shares in issue at 0.05,,, call it dilution.... but with an additional 1.5m or so cash and a cobalt licence thrown in.

I suppose it depends on whats in the cobalt licence area? with the gold and IO in there for free for the new investors.

Still an interesting play though as they now also have funds to advance the gold. A JV there is still awaited......

[cottoner] 08/12/2017 19:13

I'll take a stab at ANR. :-)

[barnetpeter] 08/12/2017 18:51

This is a good deal and I am pleased with it. The company was just sliding into nothing and now this new cash will fund things for a while. New venture could do well... it might open up down on Monday but I bet plenty of punters will take a few. Which other stock placed at 0.05 a few weeks ago and then promptly hit 0.8? Answer on Monday....

[atlantic57] 08/12/2017 18:27

What Price Sula settle at, I wonder ?

[atlantic57] 08/12/2017 18:25

What Price Sula settle at, I wonder ?

[escapetohome] 08/12/2017 18:01

To be renamed African Battery Metals?
Shre consolidation
Raising a bundle but the price of the cobalt mine relatatively low, to the amount raised.

[temmujin] 08/12/2017 17:57

Acquisition and Proposed Placing and Subscription
Fri, 8th Dec 2017 17:06
RNS Number : 8809Y
Sula Iron & Gold PLC
08 December 2017
Â
For immediate release

Sula Iron & Gold plc / Index: AIM / Epic: SULA / Sector: Natural Resources

Â

8 December 2017

Sula Iron & Gold plc

("Sula" or the "Company")

Â

Â

Proposed placing and subscription to raise approximately £1,750,000

Settlement and termination of the Riverfort Facility and associated buy-back of ordinary shares from D-Beta

Acquisition of a controlling interest in the Cobalt Licence

Change of name

Proposed Share Capital Reorganisation and amendments to the Articles of Association

and

Notice of General Meeting

Introduction

The Company today announces that it has acquired a controlling interest in a Cobalt Licence and has conditionally raised £1,750,000 (before expenses), through the placing of 3,000,000,000 New Ordinary Shares with certain new and existing investors and a subscription for 500,000,000 New Ordinary Shares with a single investor all at a price of 0.05 pence per share. The Fundraising, which has been arranged by share price Angel, is conditional, inter alia, upon Shareholders' approval of each of the Resolutions and Admission.

The net proceeds of the Fundraising will be used:

1.  to capitalise a new company to be incorporated in the DRC which will be 70% owned by Sula and 30% by the Vendor which will hold the Cobalt Licence;

2.  to provide working capital to commence systematic geological exploration work under the Cobalt Licence, so commencing the process leading to the definition of an initial JORC-compliant cobalt and copper resource;

3.  to buy-back the D-Beta New Shares;

4.  to provide working capital to Blue Horizon, the Company's subsidiary which carries out its gold and iron exploration activities in Sierra Leone;

5.  to assess other cobalt-copper opportunities in DRC; and

6.  for general working capital purposes.

Â

A Circular containing further details of, inter alia, the Fundraising and the Acquisition, and including a notice convening the General Meeting which will be held at Michelmores LLP, 12th Floor, 6 New Street Square, London EC4A 3BF on 27 December 2017 at 10.00 a.m., together with a form of proxy for use at the General Meeting, is expected to be despatched to Shareholders today and will thereafter be available on the Company's website at www.sulaironandgold.com.

Â

Roger Murphy, CEO of the Company, commented:

"We are very excited to announce this significant addition to the Company's strategy and exploration activities. We are bullish on the outlook for cobalt and the other battery metals and believe that the creation of African Battery Metals plc will provide UK equity investors with exposure to cobalt, which some analysts see as the battery metal with the tightest supply/demand fundamentals. The complementary skills of our Board and the experience of our Technical Advisors, Madini, of operating within the DRC provides us with, I believe, an advantage in operating in the region, where most of the world's cobalt is found. The addition of cobalt to our existing gold assets in Sierra Leone, provides important diversification to our exploration activities. We remain committed to our Ferensola Gold Project and to maintaining and valorising it through a joint venture or farm-out, as previously announced."

[temmujin] 08/12/2017 17:53

this share could get explosive soon!

Cobalt prices surge as Cobalt 27 soaks up hundreds of tonnes

Cobalt prices surged to fresh highs this week after investment vehicle Cobalt 27 bought over 700 tonnes of physical metal, consumers rushed to secure units, and exchange prices surged.

High-grade prices saw the most dramatic rises, jumping as much as 10% on the top end to $32.50-36.39 per lb on Friday December 8, from $31.75-33 per lb on Wednesday. The range was unusually wide as the week drew to a close, as cheaper deals as far back as Wednesday afternoon are included in the range while more recent deals were transacted at the...

[temmujin] 08/12/2017 17:51

anyone seen late rns...we are now a cobalt player...might get interesting here if the price of cobalt keeps on rising

[the stinger] 08/12/2017 15:07

May pop here one day... will be quite decent to if some news on a JV or IO deal...hmmm debating whether to buy in....

[escapetohome] 08/12/2017 14:37

Catenary shape of graph? At least on one side of the picture!!!

Whats on the other side?

( Ans: hpoefully the mirror image)

[failedqs] 08/12/2017 09:17

Still no sign of the big announcement Temmujin - today maybe?!?!:-)

[escapetohome] 05/12/2017 21:32

Gold miner's shares jump 2,400pc after it switches to Bitcoin( source daily telegraph)
The digital currency Bitcoin is often hailed by its supporters as a new version of gold, but the claim has been taken literally by one company, with spectacular results.

Natural Resource Holdings, a small Israeli outfit that has invested in a group of precious metals mines, has seen its share price jump from 105 shekels (£22.40) to 2,615 shekels - a 2,400pc rise - since it announced it was moving into cryptocurrencies.

In October, the company announced it was switching to working on blockchain - the database technology behind Bitcoin - and on Sunday it confirmed it is planning to buy a 75pc stake in Bitfarms, a Canadian company that "mines" cryptocurrency.

[escapetohome] 05/12/2017 08:11

Atlantic I think if i were to be promoted to board member i would direct sula to issue a cryptocurrency right now along the likes of lionsgold.

All these aim stocks seem to suddenly sky rocket at the minute.

Come on sula!

[atlantic57] 04/12/2017 16:31

escape maybe you should join the board..

[escapetohome] 04/12/2017 13:35

A. Possibility , as reported running out of exactly the particular type sula has.

B. Partner must be sought to fund mine, then a royalty to shandong to carry ore to port on their railway. Easy money for them.

[atlantic57] 04/12/2017 10:24

The key issue with iron ore:

A are shandong realistically interested

B if no what would it cost to build s mine
And get the ore to port.

If anyone has calculations for b please
Share

[failedqs] 04/12/2017 08:22

Sula have had the iron ore in periods when ore was much higher than it is now, and nobody was interested then....It's a question of monetising the asset, and sula have relied on someone coming to them and either buying the company in its entirety or entering into a JV (why would you? Pick up the pieces from the administrator in a few months instead.....)Gold - non starter, not enough there.But Temmujin - the announcement you have stated is coming might change all that, so things might change for the better......

[escapetohome] 04/12/2017 00:52

Lots and lots and lots!

[temmujin] 03/12/2017 23:05

incredible rise in iron ore price tonight ..how much iron have we got?

[the stinger] 03/12/2017 18:02

What ever and when ever ,,, i doubt you'll see fire works....unless a JV or sale of IO... if they can sell the IO to Shangdong though.... well,,,, different ball game here..

[failedqs] 03/12/2017 14:16

Oh I thought you said it would be last week.Ah well another week of suspense!.....