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Cant be much of that Ā£25K cash left now.... D day awaiting
Had some of these in my ISA. What an utter disasterfir shareholders this has been.
Once again somebody has raided their piggybank for loose change and achieved a 5% drop in the SP. Then it will go up by few per cent on a couple of buys and everybody will talk about a recovery. Too depressing. I think I will just take this off my Watch List and come back next year.
Running on fumes, talk of African institution coming on board, could go private, need secure some sort finance soon.
Align have been a buyer even though the SP has fallen. Does the SP fall so low that the II's simply acquire a majority stake and somehow take it private. That would be my concern here.
Think align find difficult find buyer that amount, with out taking huge loss
So what are the options now and why are Align still holding?
If it gets delisted will all the large share holders lose everything as well?
Peter Cox was not management material 4 sure, stayed in job too long with failure,
Iron have fully drawn down all loans and have Ā£25k in the bank, so no one died but the firm is close to it! Will need to be a capital raise and dilution. Already down 80% on my investment, and will get worse before it gets better.
Not the happiest RNS, but a 37% drop in SP seems excessive. Nobody died. Still a going concern.
Full chairman's Statement here:
https://www.londonstockexchange.com/news-article/IRON/interim-results-for-the-6-months-ended-31-dec-2023/16398991
Not quite the good news I was hoping for!! this is turning into a disaster .. my investment here is now down 92% ... what a sh t show it is turning out to be... still cannot find any progress on the deal we supposed to have had with Burnstar on the energy plant.... or was with another made up news!
@steven49
āmanagement partly to blameā???
Re-read the RNS.
Absolutely damning statement from JW.
100% its management incompetence.
Always difficult get these projects away in S A, but feel management partly blame, interesting c if waddle there last throw dice can retrieve something, had 15 years progress project,
Diabolical
I've never been able to understand why, if the asset is "world class", it's always been so difficult to secure external funding. Is it because the asset is not what it's cracked up to be or because the economic abd financial situation in SA is more cracked up than it should be?
Quite astonishing what JW has uncovered including that the then production plans were uneconomic. Knowing what I know now, I would have sold all my holding, rather then just 50% last year to invest in Kodal.
All hopes for a recovery now rest on his shoulders, and his ability to secure funding and/or do a successful placing. He is motivated to do so as he, as he points out in the RNS, has a significant financial stake in the outcome. Good luck JW.
If the plant is mothballed, still not produced anything then where has all the cash gone? A bit more info for shareholders would be appreciated and well deserved after watching this investment sink like a stoneā¦.once again!
Crikey, that's bad!! Not holding here at the moment, but looking to re-enter when financing sorted. Hope IRON can sort something quickly or it looks like it may be over. Good luck today. Think you may need it.
The Company currently has cash of circa Ā£25,000 (as of 27 March 2024, will company still be here year end.
6 monthly accounts should be out tomorrow but I have a feeling they are going to be delayed due to possible going concern issues - can they confidently say they they can trade for the next 12 months or do they have to rely on a raise or investor coming in. All in my opinion and based on nothing but my gut feel
Let's hope the due diligence on our supposed investors is done correctly this time... We all know what happened last time... Last chance for this this management... only major + this time is Mr Wardle is balls deep, if he can't turn this around I have little hope anyone else can
This company is a complete disaster and it is about time they provided real updates.
first the Burnstar was supposed to be installed by end 2023 then Q1.... well they got about 10 days to go!
They just need to get their act together even if it mining and selling the raw materials to generate some revenue.
Come on Mr Wardle, drop us some real news.
Wonder where the bottom lies, not here, thatās for sure
Couple of buys this morning completely countered with sells. Todays buyer likely to end up tomorrowās seller, and so the cycle continuesā¦