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For me mike it is fairly straightforward why no sp movement and have seen it many times before in exploration companies..it sometimes does not seem to matter how good the deposits are or indeed the news generally but when you have a company such as IRR who are extremely busy in the field and expending money doing such and only raising what would be considered to be small amounts for what they are tackling then investors are likely to tread carefully knowing that further raises in whatever forms they may take are only just round the corner..however having said that I personally feel that we may not be too far away from some kind of deal that may put that issue to bed and then it will all be about the grades
Bozi, I hear what you are saying. My slight concern is not seemingly able to move the sp from around this level will equally cause us a higher percentage of dilution when we need more cash.
As for being patient this will be 4 years for me this summer.I did think this quarter was going to be the catalyst for the start of a re-rate, and it may still well be, but despite an endless stream of positive Rns’s we just don’t show signs of significant movement upwards. In fact this weeks news so far seems to have attracted a lot more sells than buys.
I honestly think as you say either a sale of one asset to be able to develop the others or manage to produce the lithium etc to kickstart this, then i am going to have to hold at least another 2 years in my opinion to get anywhere near my target.
Bentnose - Completely understand what you're saying but I think there's less need to do that here. With a company like GGP, their exposure is clearly gold (with side credits) in one jurisdiction.
Letting a mid-tier or major mining company into our projects would prove pretty dilutive.
For me it's a case of being patient whilst the company brings the most advanced of it's assets through to a sale or development financing. Keep working methodically in the meantime until such a time that the company can loosen its financial belt.
Just my opinion, but one I think will be shared by those of influence within DGR particularly.
Bentnose - I totally agree. Interest from one of the big boys would also likely send a rocket up the SP as they don't mess about with assets that aren't going to considerably strengthen their portfolio.
We need updating on timelines and strategy for sure.
or alternatively has the lithium now been progressed to a point where a bigger player can come in and develop the project into production giving us the funds to move Zaranou on
Agrees SM - that road map of future plans is crucial now. Regarding the share price - i know there is some bias but our brokers note had the share price estimate north of your figures based on pretty much what the Jorc came out with (and it will increase) and that was only a share price valuation of that asset, without the other projects in our portfolio.
I did mention it a few months ago and I was shot down but i think its time we looked at the GGP approach in particular for the gold prospects. If we have confidence in Zaranou for example come to agreement for a bigger mining partner to come in and aggressively increase the drilling campaign for a buy in of the project.
I am with Mike here. It is incredibily frustrating that no much how much good news IRR pushes out the market doesn't seem to respond accordingly. I get that we are down here because the market cottoned on to the fact that we would need funding, and we raised at low levels, but given how far the company has come from the heady days of 35p+ and a MCAP of around 100m at one point, it makes absolutely no sense to me that we remain where we are.
After all the build up to the Ghana lithium resource estimate I was massively disappointed to see - not just a muted reaction - but a negative reaction from the market to the news. It baffles me.
I will continue to add at these levels, bringing my avg down and trusting in the fundamentals of the business. What we need now is a clear road-map laid out by VM to explain how we are going to move back to a 100m business and ideally beyond. I had previously set an ambitious price target of £1 a share before selling which would value the business at around 330m. This looks ambitious at this stage. But somewhere between 60-70p should not be unrealistic given the assets we are holding.
Vince's next bit of PR is important and I hope for all our sakes (and wallets) he nails it.
bentnose, yeah thanks I had seen that. It’s as though he had seen my query on here and answered it on twitter, as for some reason he doesn’t post on here anymore. Don’t know why because is information is very good.
Another muted response this morning, no buyers, god knows what Vm and his board must think. No matter what good news they put out, just gets no response.
Mike, some good new info from Toro on twitter in relation to your query on Ghana lithium. Makes things a bit clearer in my mind
Mike.
Generally accepted battery grade is 99.5% for Lithium Carbonate and 56.5% for Lithium Hydroxide.
So IRR returning a 99.92% is above what’s expected and will mean less refining and processing. The key point is the low impurities as not everyone is able to get to that level.
IronRidge now have a commercially viable project with low Capex and Opex.
What next though? A big week in Cape Town where Len is also presenting at Indaba and I believe talking on a gold panel discussion.
Read the title of the RNS on the 21st of Jan this year it may give you a clue wether its an acceptable grade.
This quote was in bold in the RNS from VM -
"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."
Hopefully some news to follow soon judging by that comment - from your questions yesterday it looks like there is still plenty of the area to survey if required so the jorc can only increase over the tenure.
I didn’t mean just VW, I was asking if this is an acceptable quantity and grade to attract a big partner.
Think they have already signed mou with the chinese
I’m not really sure to be honest about mining resource figures and what they are worth etc. In this instance would that quantity and grade be of interest to the likes of VW ? Any ideas anyone.
"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." Mmmmmmmmmm???
and that N2S, is where VM earns his spurs, and I'm sure he will. Lens doing the business in spades.
VM needs to 'move' the product on from the technicals to realise value.
Over to you Vince is ur reading ..
Lol ditto then !
Haha swest it is well documented that i bang the F drum on here and yes it will be lurking which is why I am now hoping for a corporate deal of some kind to get over this short term need for funds and clear the way for the company to start realizing some value by way of higher market cap
TBH, in whatever guise, we need a deal / JV. I'm really hoping something is progressed and hoping for another announcement soon
If, If, that happens, I think it could fly on multiple fronts
Mike I was not even sure that Kaampakrom was even going to be included as the drilling there was just dipping a toe in the water so to speak..it was a first pass drill that came up with excellent result and can be greatly enlarged in time I should imagine ..but it was only a small area which does bode well for the future
I was just about to mention the F word when you mentioned pockets.
I know its not a popular subject, but the cash position nags
I'm a massive supporter and LTH, but we need to re rate. Tricky, can't get a good raise down here.
The authorities in Chad won't wait forever...
PS Time to see VM on the airwaves again, further clarity going forward. AIMO
I am not really surprised that IRR were not marked higher on news of MRE as it was well flagged up intention to announce and was in line with expectations ..I think it is the news from here that will determine our value and what maybe is the plan to do with it..go it alone on further drilling and expanding or have they done enough to encourage a bigger deeper pocketed player to take over the reins so that Zaranou can have more focus
Will be good to get some feedback on how the jorc results are received at the mining conference coming shortly. Bottom line is we should be sitting a lot higher share price wise. Wonder what news will drop next, still plenty due, especially from Zaranou, hoping the next results are similar to last released results.
excitement