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Good point Farq on the Broker note from SP Angel. It came out just before the 2nd April and they were at the Shareholder meeting.
Vince talked about the company putting ‘Best foot forward’ and today we did that. This is just part of the Lithium portfolio in Ghana and Len has just referenced the ‘Lithium Pipeline’ in a tweet this morning. Perfect timing for Cape Town and Indaba20 (3rd-6th Feb). IRR were a big hit last year but the MR JORC and Zaranou Gold generating interest, I’d expect Vince, Len and the team to be very busy.
14.5Mt @ 1.31% Li2O is above expectation at the time and still leaves more to come. This is a definite project. Low Capex & Opex, outstanding logistics with power & bitumen road to Takoradi.
Commercially viable in a mining friendly jurisdiction.
Well done to all the LTH and to all at IronRidge. It might take a few days to filter through and watch out for deramping.
It’s a globally significant HR Spodumene resource.
Quoted from RNS:
In summary, delivery of the 14.5Mt at 1.31% Li2O Mineral Resource estimate is an important milestone in further de-risking a compelling project with favourable geology, mineralogy, location and exploration upside, in the pro-mining jurisdiction of Ghana; which bodes well for Studies and future mining operations with low capital intensity and low operating costs implied.”
Adding to this, Vincent Mascolo, CEO/MD IronRidge Resources said:
“Given the magnitude of the Indicated Mineral Resource, along with exceptional geology and proximity to operational infrastructure we have further enhanced our optionality in respect of start-up and production scenarios.
“We are pleased that we are in line and generally better than market assumptions in respect of tonnage, grade and recoveries.
“The Mineral Resource estimate also reaffirms our pursuit of becoming a dominant West Africa spodumene source for the emerging electric vehicle and stored energy space, and we look forward to updating the market on our progress in this regard in due course“
Probably sells and they’ll show up later.
Someone is buying 200k lumps but for some reason LSE site doesn't recognize this?????
The figures leave us in no doubt where should be with potential share price given the SP angel estimates, as we are pretty much in line with their prediction, albeit slightly better grade and thats based on this asset alone, without the rest of of our portfolio. Time for the board and big backers to step up now with a clear path now to realise a realistic share price.
sorry link not working but just article that Farquar mentioned which based their figures on between 11 and 15 mt
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SP Angel came out with a mining note last year based on 15mt at 1.25 and a mine life of 10 years and post tax SP OF 72p. The grades are better at 1.31 and we have the the Hill to boost that figure. This is only the beginning.
Morning, anyone able to add some context / compatibles on size please, thx