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I came across this YouTube and it was very interesting to see Keith Phillips analysis of Piedmont strategy and how the Lithium market will develop in general over the next few years. The initial interview is only about 15mins long and he touches on the Ironridge investment a wee bit. All extremely positive comments.
The remaining minutes are with Rodney Hooper from RK Equity which many of you will already have watched last week.
https://www.youtube.com/watch?v=Mo3jEABFJAg
Hope you enjoy.
'In a statement, IronRidge said lead manager and underwriter, Canaccord will fully underwrite the Ricca rights issue, which enables the company to fast-track the demerger by almost one month.
Completion of the demerger and distribution of the rights issue shares is now expected to take place on 22 December 2021. Completion had originally been anticipated on 18 January 2022.
"Canaccord's commitment allows us to fast-track the demerger in preparation for a fresh start to activity on the ground in 2022,” said IronRidge chief executive officer Vincent Mascolo.
“Significant opportunities exist for Ricca across a broad portfolio of West African gold projects as the precious metals complex looks to be entering a new phase of growth. We believe that Ricca offers a new and exciting separate investment opportunity for IronRidge shareholders to capitalise upon this growth.”
IronRidge will not retain any interest in Ricca following the proposed transaction.
Post the proposed demerger, IronRidge will maintain a strong cash position of around US$22mln.'
https://www.proactiveinvestors.co.uk/companies/news/964958/ironridge-to-fast-track-gold-demerger-after-canaccord-agrees-to-fully-underwrite-rights-issue-964958.html
Amatuer chartists and thier gobbledegook .Its an AIM stock man,yeh kin throw yer charts oot the windah.
I forgot to add that a golden cross is forming on today's rise - yet another strong buy signal. Divhunter, I think you're right to hold for higher than 24.5, as I think we will see a re-rate here in the next couple of weeks.
I was planning a little profit taking at 24.5p but that's off the agenda. I think we'll pass that this week & continue up next week. Who in their right mind would sell now, buying pressure all the way.
Looking at the chart, great to see it gap up this morning through a line of resistance from September. Nicely above 50d & 200 MAs. Solid support at 19. Could re-test recent highs of 22 - 24. We know this rises quickly on quite low volume, so could see considerable upside soon.
Fast track to freebies :) if someone can bash down sp to 16p, please do!
Thank you for your reply its clearer now just on transferring some of my Tesco pension to HL going to put some money in here and was just wanting to understand what's going on
Kind regards
Hi Dava, listing on OTC in the US is akin to listing on AIM in the UK and not the main market. According to your last post you've already invested in IRR on AIM over here, so the OTC listing in the US shouldn't bother you at all.
Separately, the company is about to undergo both a demerger and a rebrand, which will result in two 'pure play' companies - ALL and Ricca in lithium and gold respectively. This will make the 'story' behind both companies much easier to tell, and IMO will result in IRR/ALL becoming more attractive to funds, and potentially to lithium ETFs.
The teething pains of the demerger (which so far appear to have been a sharp, unsubstantiated and short-lived sell off on the day) will be a distant memory when the market starts to recognise true value of what we are sitting on in Ghana. This stock at this price is a no brainer, it will do multiples of this SP over the next 6-9 months.
Why do OTC instead of NYSE is it because they are a so called penny share
I'm unsure myself that's why I'm asking I'm wanting to put more money in IRR but need to be sure OTC is a good thing
Great volume on OTC. parity 21.5p. Bodes well for tomorrow.
Nice try @Dava.
Lol, why would having a US listing make a company look financially unstable? It simply allows US investors to buy shares in IRR, without it it’s almost impossible for them to buy shares. Considering the relationship with Piedmont & the fact most of our Lithium will end up in the US it also makes complete sense to have what is effectively a dual listing…
Is OTC a good thing or does it make the company look financially unstable I'm unsure dont mean to but a downer on IRR I just dont know that's why I'm asking Thanks in advance
The fact it’s risen 8%+ with someone offloading 2 x 500k at 19.5 is hugely positive. We’re nearly 25% above the lows hit last Monday, I wonder if those that sold are getting FOMO ;)
As ever with IRR look a little deeper and even now somebody offloading taking the edge off an overall still positive day.
Interested to see if theres an RNS in the morning.
Just the start - at £125m market cap we are still only valued at the NPV for the current Ewoyaa resource size at a price of $650 spod... the fact we are due an imminent substantial upgrade & Spod prices are now nearly 300% higher than the scoping study gives an indication of the potential upside here. If we get an influx of US investors via the new listing then this could be the spark needed to re-rate things. I've seen it many times before - ARB, KR1 & IKA all benefitted from US OTC listings and they have never looked back since.
Very nice start to the week , fingers crossed we can sustain it.
Just tried a dummy sell and they will take up to 500k
well done you . must be quite fun at the moment
Would appear somethings leaked
My first target would be 46p. I bought my first lot at 16p about 5 years ago.
Couple months later it touched 46 and i held on...
It's in a better place now in my opinion with the security of the lithium deal with piedmont. A lot of the Australian
lithium plays have had crazy runs up
Good luck all this could be fun.
fingers crossed
actually get to ?
Got it's second wind when Joe Biden started speaking at the Glasgow shindig.
Load of green stocks up all over today.
Guess we're firmly in that category now....
Good stuff
Trading on OTC gave it a lift. First sign of things to come ...
There goes the 20p. Just like I said. Piedmont are buying for sure. If not some f kkkkkrrr is lmaooooo
This just came out of auction. Sea of blue everywhere. Rns logged for tomorrow? I can bet ya life it is.
Boom I here.