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Good luck with them.
I'm still of the view that value will be created incrementally here and not upon an end game as such.
The recent updates from Ewoyaa and the adjacent licence bode well and we should have some newflow to come from Zaranou in the not too distant future.
Plenty to play for.
Fair enough, Bozi. Dilution lite, then.
Enough years away and I'll be pushing up the daisies.
A week or 2 back I was tempted to sell out. In the end, with some spare cash in my ISA from the 88e pump, I went and bought another 50k.
*dilution.
PS - what is the big concern about the end game? It's likely years away.
Streapadair - if you compare the dilutiom from a drilling for equity deal vs the numerous share issuances you will find that the drilling for equity will be significantly cheaper in the long run.
Would you rather issue 100m shares at an average price of 15p to raise £15m over 3 or 4 years or would you issue 10-20m to a drilling contractor at a price connected to the volume weighted average?
I know which I'd rather go for.
As a major share holder, Vince is probably holding out for a good deal that will benefit share holders, rather than take any old deal that is offered him, trouble is, major companies will want something proved up (hence all the drilling) any deal based on surface trenching and rock chips etc is just a punt for a major because you don’t know what’s down there until you’ve drilled it.
They are evaluating options maybe they have something in mind
A JV seems sensible, all this effort and successful drills will result in something. It’s a valuable viable and needed resource. I too would like a clear updated picture of what the plan is with all this.
Bozi, drilling for equity is dilution by another name.
Does anybody have the foggiest idea what the endgame is for IRR and all its discoveries? Sale/farmout/production? I've asked Mr Mascolo, but answer came there none.
Its nuts - we are worse off than we were on Friday even with rumours of a leak yesterday pushing the price up.
This share is crazy
Cheers NTS not sure how ive missed Tenstar before - was a bit worried when i googled them i found its a procumment company and the bloke used to own an aquatic shop!
I can definitely agree on that ..value will out and may be explosive because at some point the figures will start to be a reality and regardless of whether the sp is 20p 25 or 30 if the returns demonstrsted by the scoping study stack up we could easily be 4 fold higher I believe
Also forgot to add I agree the arrangement with Geo works well and I believe we have been paying invoices 50% cash 50% shares with them getting 10% discount on 5 day average prior to issue..( might be wrong on that bit without looking up ) ..but it should be noted that IRR is in top gear at the mo and keeps on expanding the drill programmes both on the gold and lithium as announced this am..all costs money
Your point is valid N2S but it unfortunately relies on there being an efficient market, which isn't the case here today and hasn't been the case for some time where IRR is concerned. The scoping study merely closed a bit of the gap.
Value will out.
Not2sure- agree with what you are saying. I think 1) Bozi makes good points about exceptional market conditions driving the SP to 48p during the first Li boom and 2) we are undervalued, plain and simple.
Bozi and SharketMare I agree generally with what you say but when you make the comparisons of how many shares are in issue you have to equate what the funds have been spent on..now if they had drilled 20 odd holes 100metres deep and found didly squat then i can appreciate that comparison but they have defined a top quality resource with those funds so obviously there is much value attached to the business even with the higher amount of shares in issue..Tenstar are a company associated with DGR and Solgold..following NM I would say and on the subject of him in the earlier days of Solgold and an analogy of what I was getting at above he always said it was a no brainer issuing shares if what you were digging up was more valuable
There were far fewer shares in issue when we hit 48p, too. I think mike29 crunched the numbers on here not too many weeks back, but 48p back then is around 30p in today's world.
The question is WHAT OPTIONS ARE THEY EVALUATING,interesting statement.
N2S - I used to share those thoughts, particularly as the SP was dropping and seemingly had no floor but I've now accepted that we can't really use the 48p rise as a barometer.
It was a one off set of circumstances where we had lithium licence newsflow with a booming spot price and initial EV tailwind. Add to that the money coming over from SolGold and it was pretty much a perfect storm for early IronRidge holders.
More really positive results today. Grades looking very consistent and quite high so this bodes well for increasing the resource with some tidy intersections too.
In terms of IRR needing funds, i know you're always conscious of this but i would make the point that IRR have set themselves aside from many non-revenue generating resource juniors. The drilling for equity with Geodrill covers all jurisdictions and means that not every £ of capital raised is plundered into the ground. There's also good benefits to having the same drilling contractor across our Ghana and Cote d'Ivoire assets. It is hopefully as fruitful for them as it is for us and it is not lost on me how this deal has helped IRR moderate how many share placing they do, and therefore how much dilution for long term holders.
Not disagreeing but the sp did shoot up to 48p long before we produced the jorc for
Lithium and all the other milestones we have achieved ..sooner but probably later and more than likely when some transaction is announced we will start moving towards a fairer valuation..arguably all the time a company is in need of funds sp rerate is harder to come by
All the great grade news, be it lithium or gold, will not move the sp upwards much. Indeed the sp is now in the red after the latest 'good' RNS as people sell expecting the sp to drift downwards until the next grades are announced.
Junior miners only advance big time when an RNS states how they are going to extract the bounty out of the ground, usually a JV. Until then IRR is range bound.
Not in the same country, LOL, let alone in the same street. The Capex, Opex, Infrastructure, Port, ESG, etc are much superior with IRR by a long way. The profit per ton will be substantially different in IRR's favour.
*encumbrances
or
unencumbered
Seriously, you are going to compare Sav to IRR!
SAV just sold their soul and killed there future funding needs for US$6m by giving an offtake for 50% of their product.
What about SAV's social and environmental issues?
IRR's project is pure, clean and free for incumbrancers.
DYOR
A marvellous cross ramp, top work that man!