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Good news for the visibility of Ivory Coast as a gold mining region where big players like Fortuna will happily newly invest…..perhaps a big player will come knocking at IRRs door one day soon….
https://ceo.ca/@nasdaq/fortuna-announces-positive-construction-decision-for
Yes, IRR is the TOP NO1 holder of Australasia Gold [ASX: A8G] shares @5.5m holding 12.07%.
Link: https://www.listcorp.com/asx/a8g/australasia-gold-limited/news/top-20-shareholders-2540339.html
P.S.
Wenty of Hotcopper A8G posted a more fuller post than the one I posted last night.
It was too late in the night so I did not post everything.
In the interview with Proactive Investors Australia, Dr Qingtao said that he has a small co that sold spodumene for another co. Also, that he is involved with KOD.
I think Dr Qingtao was being modest because he underplayed his C.V vs what Wenty said. In the interview, it was interesting that Dr Qintao explained that the licence A8G pegged for once belonged to Core Lithium [A$600m+ currently on ASX]. However, in 1965, the Northern Territory govt published some data on this licence and that it had shallow pegmatites from recall. So, A8G found a peg and ran further work on it. Hence, the licence was pegged for free which is NOT the norm in Australia. Maybe, the NT govt is helpful and wants to open up the territory etc.
Stockhead.com.au did 2 article on lithium juniors on the ASX and both included A8G.
Dr Qingtao, MD of A8G said that HE HOPES they will find the NEXT lithium pegmatite. I think he may be referring to the NT, Australia area given Core Lithium is said to be the NEXT LITHIUM PRODUCER in Australia [CXO].
However, it has to be said that it is NOT only A8G looking for lithium in the NT but another co called Charger Metals who is also near CXO*s Finniss project. Charger also has a mkt cap of A$40m+ region like A8G. There is 1 more London-listed co that holds 24% of a licence near CXO*s Finniss but no further news on their exploration etc.
Australians [punter] per Stockhead.com.au are LOOKING for the NEXT PILBARA, LION TOWN & VULCAN ENERGY given their eye-watering mkt caps on the ASX.
Ah, we AWAIT RESULTS FROM A8G as that will come via ANN/RNS as and when.
As for Nick Mather - I was here a long time ago in the early days and May Queen and Raines was already in play & on the book. I can check but it will take too much time but that is from my recall.
It would appear IRR has CONNECTIONS to China via Dr Qingtao who they sold May Queen gold project to in Qld, Australia. I loved the part wherein, Dr Qingtao told Andrew Scott of Proactive that they raised A$5m and they still have A$5m in the bank??
I will have to look up the TOP 20 shareholders myself to see how many % IRR holds of A8G which is of interest.
News, 28.9.21
Go to Twitter and type Australasia Gold into the window and the co*s Twitter a/c should show up. The Proactive Investor*s interview with Dr Qingtao is there to see and listen to.
This is what Wenty said in the said SAME post:
"Also, if I*m not mistaken, the MD has a connection to SHANDONG RUIFU right? Ruifu had an OFF-TAKE deal with Altura, plus a non-binding off-take with CXO [Core Lithium]. Should A86 find a deposit, then I think our MD will have the CONNECTIONS to secure a partner.
We saw EFE rise after a partnership deal with Sichuan Yahau." Dated 22.9.21 @13:15 by Wenty, Hotcopper A8G.
News, IRR is the top shareholder in Australasian Gold. Closed at aud43c. Could end up being a very shrewd investment.
Its time IRR gets off aim. One of the most undervalued li companies anywhere at present.
News, you have certainly taken this to the next level which unfortunately if falling on deaf ears.
LK & VM are the ones that identified May Queen and not NM.
News, the story here just gets better and better. Just needs time to play out. Wonder if the investment will go into new gold company, or stay with IRR?
wenty of Hotcopper, $A8G posted on 22.9.21:
"They stared exploration on Sun. At CXO*s EL26848 tenement next door, they got rock chips samples up to 4.63% li20, 10 samples above 3% li20 & had samples where up to 50% was SPODUMENE. At CXO*s Barrow Creek, there were some MONSTER PEGS there too.
IMO, should A8G get similar samples, then there could be quite a rise in SP given the small MC."
https://hotcopper.com.au/asx/a8g/
Comment:
Someone on DGR Global [mother co of Ironridge Resources] said that IRR is one of the top 20 shareholders in Australasia Gold [ASX:A8G] with 12% stake. CXO is Core Lithium who is the next door neighbour to A8G. IRR*s Ghana lithium has a grade of 1.6% li20.
Just checked Ironridge Resources investment per my post above as to the latest mkt cap for A8G on the Australian ASX.
A8G- share price A 43.5c, MKT CAP A$20.03 Million. So, gone up further from A$14m in the Stockhead.com.au article on 17.9.21
Link: https://hotcopper.com.au/asx/a8g/
"Australasian Gold Ltd [ASX: A8G] applies for tenement in Mt Peake pegmatite field."-Market Herald, 25 Aug 2021. Quote: "MD Qingtao Zeng says the co is fortunate to PEG free land in the Northern Territory to conduct lithium exploration. This licence in the Anningie-tin-tantalum PEGMATITE FIELDS which is believed to be highly prospective for hard rock LITHIUM MINERALISATION."
---A8G RNS/ANN, 9 Sep 2021
PAUSE IN TRADING PENDING FURTHER ANNOUNCEMENT.
An Australian posted called yellowninja relating to the above announcement dated 27 Sep 2021 [Mon] :"...ANTICIPATION FOR RESULTS."
To read, click open the discussion icon.
Above showing on the Hotcopper A8G site.
Ref: IRR RNS, 11 Jan 2021: "IRR completes divestment of May Queen gold project."
"Ironridge will receive 4.5 million shares representing 28.1% of the enlarged share capital of AGL with Ironridge to INVEST A$100k at 10c per share to provide AGL with additional working capital. Ironridge to hold an initial 5m shares in AGL representing 32.3% OF THE ENLARGED CAPITAL on completion of the transaction. IRR maintains top-up rights as well as an option of a FUTURE SEAT on the AGL board."
===
"Resources Top 5: A couple of LITHIUM STOCKS flying under the radar."-Stockhead.com.au, 17 Sep 2021
https://stockhead.com.au/resources/resources-top-5-a-couple-of-lithium-stocks-flying-under-the-radar/
"AUSTRALASIAN GOLD [ASX:A8G]
This newly listed explorer is HEDGING bets by chasing gold [not hot], copper [hot] and lithium [SCORCHING HOT] simultaneously.
MAIDEN DRILLING AT M AY Q U E E N in Queensland confirms the presence of high-grade gold and identified several exciting follow up drills.
More importantly for the punters, A8G says it will kick off exploration activities at the MT PEAKE LITHIUM PROJECT in the Northern Territory -NEXT DOOR TO DEVELOPER CORE LITHIUM*S [CXO]
Anningie and Barrow Creek projects. $700m MKT CAP CORE is EXPECTED TO BE AUSTRALIA*S NEXT LITHIUM PRODUCER.
On Sun, we will commence exploration at our lithium project in the Northern Territory where we hope to MAKE A T R A N S F O R M A T I V E LITHIUM DISCOVERY in the Arunta pegmatite P R O V I N C E, MD Dr Qingtao Zeng says.
The $14 million cap stock is now UP 1 2 0 % on its May IPO price of 20c."
Comment:
I am absolutely delighted at this news in that IRR via their investment in AGL will benefit indirectly from AGL*s lithium project in the NT, Australia which is next door to Core, Australia*s next lithium producer with a mkt cap of A$700m.
Sun has passed per the article so await more news.
News, Mon 27 Sep 2021.
May Queen Qld gold project was during Mather*s time at IRR.
"Pilbara Minerals Ken Brinsden on that record-breaking lithium auction and why high pricing is expected to persist."-Stockhead.com.au, 12 hrs ago, Fri, 24 Sep 2021
https://stockhead.com.au/resources/pilbara-minerals-ken-brinsden-on-that-record-breaking-lithium-auction-and-why-high-pricing-is-expected-to-persist/
"Solving the lithium shortage isnt as easy as turning on production.
In the hard rock space- at least as it relates to merchant SPODUMENE SUPPLY - the NEXT available [production ] uplift besides us is probably L A T E NEXT YEAR." -Ken Brinsden.
"1 more BMX auction before end of yr." -PLS
"The contract market-where most tonnes are sold-has traditionally been very opaque with prices determined behind CLOSED doors.
This, amonst other things, makes it hard for aspiring miners to GET FINANCE."
"Australia*s NEXT MINER is shaping up to be CORE LITHIUM*s Finniss project in the NT, which is targeting production in the 2nd half of 2022."
Comment:
Brisden has the more accurate production date for Core Lithium, Australia*s NEXT spodumene producer [lithium] to be END 2022 as I have already posted.
Note: For lithium aspirants, FINANCE is key. IRR does NOT have that worry of $$ given the Piedmont JV deal ie US$102m to cover the total capex [US$68m], DFS [US$17m] + other expenses to get 50% of the project [9% + of shares bought at 20p & 25p].
As said, it is necessary or even vital for all lithium investors to know when is the NEXT producer coming on and Brinsden confirms this to be Core which is also been posted.
What Brinsden and others will not openly share is the schedule or potential schedule of ALL aspiring co*s in spodumene, what stage they are at, country jurisdiction, finance position for capex, production no*s, life of mine etc. This type of info is available to Tier 1 investment banks & S & P Global.
Funny just to see these manipulators now, probably buying and selling against themselves. I suspect very minimal buys and sells by PI's currently.
sadly yes that will likely happen. Mates rates an all that, its a shame.
There's a lot of water to pass before a demerger record date can be announced.
The new goldco has to be incorporated and if it is being listed from day 1 then it needs to go through that market's admission process as well. There's a lot of work to do.
Mike Clarke - that is how it will work. The mechanics will be very similar to the payment of dividends.
It won't stop traders though. Far from it in fact. You can't stop traders really. They will buy and sell any share on the market. The difference with IRR is that there's a lack of market clarity concerning the main deliverables, and that is to the detriment of traders.
You'll see plenty jump on board to trade it when the demerger details get announced. The company will have to give some notice of that. Share price will then run up to the record date and drop back when it goes ex.
Vincent will know what he needs to do on the lithium side of things to smooth out any post demerger volatility.
Hi Swest. Wouldn't it be good if they announced the demerger date, but also announced that the free shares in the new gold co would only apply to holders at 4.30pm the previous day. This would stop all the manipulators and traders, which I know Vincent does not like. I suppose this won't happen though as the likes of Liberum will want a forward date so they can get all their maters to load up.
here until demerge.
rigs still spinning, however I think any drill results and even MRE will have limited impact until demerge happens. personally I'm ok with this, I can see a clear plan.
Await a demerge date stated and how the split will work in terms of SP / value
"The mining sector in Ghana-an economic driver that could be improved.- Myjoyonline, 7 hrs ago, Wed, 22 Sep 2021
https://www.myjoyonline.com/yaw-mensah-the-mining-sector-in-ghana-an-economic-driver-that-could-be-improved/
"..although the mining sector is doing well in Ghana, its contribution to the country*s economy
could be improved if a number of OBSTACLES to investment were removed as the Chamber of Mines pointed out when it submitted its findings to Parliament on Aug 3.
6th largest producer of gold. 3rd largest economic sector. Mainstay of the economy. C$1.9b collected every yr.
Bukini Faso & Ivory Coast have OVERTAKEN it leaving Ghana in 4th position in Africa."
One can read ALL the reasons - its to do with high exploration costs etc. Measured in cost ie all sustaining cost, its higher than the other two countries. Chinese & Russian investment mentioned.
Comment:
It is of interest given what one reads earlier about the $X of lithium etc. This is encouraging and appears POSITIVE relating to Ironridge Resources in that Ghana is welcoming investment.
IRR is in Ivory Coast so that is positive also.
I can see all your posts today News. Very informative. Thanks for the work
Simon Moores on Twitter as above today, 22 Sep 2021
https://twitter.com/sdmoores/status/1440592664697585670
Simon Moores Twitter timeline: MD of Benchmark. He shows a chart relating to his tweet.
Interesting that all 3 posts today on this forum has disappeared although the posting history icon above shows 3 posts.
Sorbie @14:31, Wed, 22 Sep 2021.
Yes, I did read that from Joy News. I did say that I had looked at ALL the available data.
However, it still does NOT detract from the potential of the licence which IRR has stated in the SI Broker note of July 2021 that there is considerable potential exploration upside.
First of all, lets examine some of the data from the Ghana Commission just in case people dont understand. This I got from other articles namely:
1] Free zones. No, IRR*s Eowyaa was NEVER in the free zone ie free of taxes.
2] The govt of Ghana has a 10% carried interest with 5% royalty. This is quite normal although it varies from country to country, the difference being some do not have carried interest especially in Western jurisdictions.
3] Yes, IRR does have a prospecting licence and like all deposits, the Scoping Studying and then further studies will then be submitted to the govt. Then, other licences to be applied for including MINING LICENCE as norm.
As I mentioned before, without looking at the information vs other similar spodumene deposits, the IRR data caused a lot of confusion eg not worth digging up etc. However, when shown that the Core Lithium deposit is even smaller but going into production at end 2022 with 2 Chinese off-takers including Ganfeng, it then gives a better perspective etc.
I am cognisant that N.Mather was the one that drove this co in the early days and is part of the DGR Global stable in that they hold a sizeable proportion of shares in this co. Mather has always stated that if you are not looking for a elephant, you wont find one. So, both Solgold and now IRR appear to fulfill his vision, objective etc. In the early days from recall, I did not see Mascolo, only Mather who spoke at all the Australian interviews & elsewhere.
Most co*s dont just sit on the small deposits of the initial discovery. Case-in-point? Havieron - Newcrest JV after the co drilled 9 holes. However, Newcrest is continuing to drill FURTHER & FURTHER OUT from the original STRIKE of 1,000m and finding more gold & copper. In the same way, it is STANDARD that investors LOOK to DISCOVERY MORE LITHIUM or whatever they are investigating ON STRIKE.
Hope that clarifies my position. I am not interested in just the current. As I said, I listened to what Mather said at a Investor Conference held by a Tier 1 US investment bank on IRR, being the daughter co of DGR. I did sit up.
Any intelligent person would ASK and QUESTION. No one is going to tell ie the academic unless one can find his finding. So, one has to TEST the theory out by looking at the STRIKE length and if mineralised. I am NOT sure if the whole 20KM OF EOWYAA has had heliborne but it is possible they may have explored to see and maybe trenching etc including geophysics which can be useful these days eg for Havieron and how they discovered it. PIEDMONT was in Eowyaa for 7/14 DAYS - thats a bit LONG to just look at the current drilling? Usually, they look FURTHE
MINERAL COMMISSION"S REPLY TO THE SPECULATION OF $150b
The attention of the Minerals Commission has been drawn to a statement and a video in the public domain on the discovery One Hundred and Fifty Billion Dollars’ worth of lithium in Ghana. While Lithium has been discovered in Ghana, the quantity and other information contained in the statement and video are false and misleading.
Barari DV Ghana Limited (Barari), a wholly-owned Ghanaian company which holds a prospecting licence for gold, lithium and other minerals, discovered lithium at Ewoyaa near Saltpond in the Mfantsiman Municipality of the Central Region. Barari operates through joint venture with Ironridge Resources Limited (Ironridge), an Australian incorporated company which is listed on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange in the UK.
The discovery made by Barari/Ironridge still requires further exploration before a feasibility study can be undertaken. Consequently, all activities of Barari/Ironridge at this stage are purely for exploration.
The Commission has not recommended the grant of a mining lease, nor has the Minister for Lands and Natural Resources granted a mining lease or authorization to Barari/Ironridge or any company whatsoever to mine or extract lithium in Ghana.
In view of the above, the general public is hereby informed as follows:
1. Ironridge has not been granted a mining lease to mine lithium in Ghana therefore the statement in the public domain that Ironridge has been granted a thirty-year mining lease, renewable for another thirty years, is false;
2. There is no tax holiday under the fiscal regime for mining in Ghana and no such waiver has been granted to Ironridge;
3. Ironridge has not submitted a feasibility study or report to the Commission which has defined or delineated lithium reserves in Ewoyaa to be worth US$150 billion; and
4. Ironridge is not registered as an entity or company operating in the Free Zones.
The Commission wishes to remind the media and the general public that the Minerals Commission is available to provide information on all mining activities or operations in Ghana and the public is advised to seek clarification or verify such information with the Commission before they are made public.
Martin Ayisi
Acting Chief Executive
Minerals Commission
Source: Minerals Commission
Ref: Sorbie @Tues, 21 Sep 2021 @22:32
Link given by Sorbie with thanks relating to Ironridge Resources Eowyaa Lithium project in Ghana on Joy News, Ghana.
Quote: "One valuing the spodumene deposit at $150 billion."
==
Article: "EWOYAA LITHIUM PROJECT"-Coring Magazine, 8 June 2021
"High resolution heliborne done 100m x 100m.
Variable STRIKE 150-600m.
Collectively extending OVER 1,500M of S T R I K E , o p e n in many directions.
14.5Mt @1.31% Li20."
[2] "Exceptional Lithium Scoping Study Results, Ghana."- IRR RNS, 19 Jan 2021
"Few have hard rock lithium projects worldwide can boast the proximity to existing operating infrastructure, lithium grades and a single DMS-only process route that seperates Ewoyaa from its peers."
"LOM revenues US$1.55 billion {Life of Mine}.
Every additional yr of production will add c US$40m in NPV per annum.
S T R I K E LENGTH E X C E E D I N G ----2 0 K M --- OF C O N T IN U O U S STRUCTURE."
Comment:
The video I saw on the $150 billion is from Ghana TV and their title reflect this relating to Saltpond, Ghana. From the various articles I have seen, it appears that this is from an academic [?] from recall.
Looking at the strike, one can understand from just logical process thinking that if 1,500m strike of EWOYAA can produce a scoping study of 14.5Mt @1.3% Li2 with LIFE OF MINE REVENUES OF US$1.55 BILLION, then simple school maths will ask, how much can 20km come to ?
Answer?= US$20.66 Billion. If the scoping study uses US$650/t for spodumene and the Pilbara Minerals of Australia*s auction of 14 Sep 2021 as reported to the Australian Stock Exchange achieved US$2,400/t for SC5 grade & US$2,500/t for SC6 grade, then the selling price [$650/t vs US$2,500 SC6 [IRR spodumene is SC6 of a higher grade] , that is nearly 4 TIMES more roughly for easy cals. So, that is potentially US$20.66billion x 4= US$82.64 Billion.
FOR THE AVOIDANCE OF DOUBT: The infomation as above ie "Strike Length exceeding 20km of C O N T I N O U S S T R U C T U R E" comes from Ironridge Resources themselves.
Yes, there is a difference between 20km strike and 20km strike length of CONTINUOUS STRUCTURE", the operative word being "continuous." IRR has also said there is considerable exploration upside - no wonder given that 1,500m of CURRENT STRIKE VS 20KM OF CONTINUOUS STRUCTURE STRIKE LENGTH is of interest.
I have not read how this academic produced US$150billion for the Saltpond lithium project so one can to check roughly whether it is even possible IF [imperative] the whole strike length of 20km is lithium mineralised in the same manner? Always good to check.
FOR THE AVOIDANCE OF DOUBT - there is an Irish explorer listed in London. They have done a potential SENSITIVE STUDY wherein they show the potential of the total strike of gold at 45km and the chance of success vs current declared gold JORC. So, this is not something unheard of given it is classified "POTENTIAL."
What Ironr
As far as I am aware this is not a private group and anyone can join this group on Telegram.
https://t.me/ironridge
https://youtu.be/GYhYOZmq0Qo
It was interesting to read some of the locals thoughts on Joy News listed below the short video report. One valuing the spodumene deposits at $150 billion.
Teddy-KGB
Thank you for your kind response. Yes, I looked at your posting and LoL, it was so sublime I couldnt see it even though I went through 10 pages of London South East IRR forum chat for early 2 Sep 2021 posting. The ones I saw are more direct in the titles which gives the $.
Sorbie,
Given you are part of this 329 member group of Ironridge Investors, I am wondering if your group has seen the Ghana TV video on lithium pertaining to IRR and how much is it in US$?
I await a reply from any of the said group. I am careful and therefore I have checked almost 3-4 other sources as well on this matter.