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Agreed Bozi,
Salford City couldn’t take over Man Utd either.
Agreed Mike.
I consider it unlikely that IRR will be involved in a transaction involving the companies mentioned. There's absolutely no need.
I know it's difficult and who ever thought we'd see 10p but these are tough times for explorers and would be developers. IRR have taken a small placing to boost treasury into next year whilst maintaining the agreement with Geodrill.
Big milestones to come in Ghana possibly by the end of the year (latest drill campaign early results) and into Q1 with the JORC report.
Then there's progress reports from Zaranou and Vavoua for early in the new year.
I've been holding tight and accumulating of late. He who dares and all that...
mike29--Oh well--was just a thought.
Hope all goes well here.
Regards
Acker
Acker, firstly cannot ever envisage IRR getting involved with George Roach. Over 70% owned here by Assore, Sumitomo, DGR Global and directors of the company. A very professional company that at the moment seems to be ignored by the markets. Obviously this has never attracted the herds who move from one aim stock to another on a weekly basis. It is not that kind of company that attracts the short term traders. It has gone about its business in a quiet methodical way, owning assets that dwarf the likes of Zulu. For me hopefully it will be Ghana that will produce the goods first after maiden resource, hopefully leading to a joint venture. I am not happy from a share price point of view, who is. But at the end of the day if one company can deliver in a big way, it is this one, just taking far longer than I envisaged. I appreciate you supplying that list of options, but I just can’t see that as a viable option. I remember in early February 2017 this dropped to 9p, news came out about the potential gold in Chad, within a month it hit 48p. Admittedly it has fell back again, but this can turnaround in a heartbeat with the right news. Hopefully that news is in progress to be announced in Q1 next year.
Ermm really what would be the benefit and to whom and I think IRR shareholders might have something to say about that ..you may not have done any research but just out of interest what value do you place on IRR and how much money do you think prem can put up given it was not so long ago they were raising themselves a paltry amount with 11 billion shares in issue ..
Herbert is director of IRR,Prem & MH Holding.
There stands a very good chance that MH Holding and Prem will be involved in a RTO.
MH Holding has revenue stream and is profitable.
Hertbert and wife own Cambrian Ltd.
Cambrian Ltd has made loan to MH Holding.
Prem has appointed Cunningham to search for companies that group could acquire.
Stephen Dattels is very close to Roach and Herbert.
IRR needs cash to develop assets--could this be the answer.
Have no research to back up my opinion--however the glove would fit.
Acker, I suppose everything is a possibility. But I must be honest I don’t know which other company you are referring to. I know there is connections with Solgold but didn’t think they are cash generating, and surely you can’t be referring to Prem.
I tend to agree mike to a certain degree but we as pis are always the last to know..my feeling is that VM is a little frustrated at the rating the sp is being given and that he is determined that value will eventually out but and it is a big but the market always tends to be one step ahead when exploration companies regardless of their prospects are munching their way through cash and to be fair the market has called it right thus far..now I do think that VM has alluded to other companies being interested in some of our projects but for the moment there really is nothing tangible until we get jorc hopefully in the time frame put out by the company as we do not like delays and then see what the market reaction is although personally I would still like to see some firm long term funding commitments cemented and then maybe we can move forward with a bit more certainty
Mike29-interesting point about being taken private,have you considered the possibility of a take over by a cash generating mining company.A company where both are served by the same director.
It is only speculation and my opinion.
spot on ur last para Mike
Hi Weetsie
No officially I don't believe Chad is off limits. Do u happen to think we should we carrying on in Chad ?
Its my opinion that any more talking, or more pertinently expending money, on Chad is the stuff of dreams until we remotely have more funds. Where out iis are in all this is beyond me. Anyhow, focus MRE Q1. Potential still massive but I think we're sailing close to the wind financially. And why/ who this bloody seller is also beyond me ... GLA
Leeds23, sorry for the late reply. What I meant was this could well be taken private. I do not know what this entails or if it is possible, but I read somewhere that if a company sees it self as undervalued by the market one option can be to go private. As I said I don’t know if this is possible and what it would mean to us shareholders. But I can well imagine that VM and the bod are pretty hacked off now with our valuation. After all this company has produced lots of positive news for the past 2 years and have been completely ignored by the market. The main investors must be hacked off as so the Tekton board who sold Chad in exchange for IRR shares at 35p and by the time their lock in expired the shares were well down from the 35p.
They should not have spent a single penny on Chad since the day they acquired Cdi and realised it was a more attractive proposition. They need to be looking at offloading an asset here to fund the rest.
Have we heard chad is officially off limits
FWIW IMO. Chad off limits until further notice. Parked. 2mill wont touch sides.
Q1>JV>funds into the business. And yes, this 2M represents the last batch of goodwill.
Mike we're jointly perturbed. GL
This share is complete dog poo!
I sold out at 21p with 45% loss...best thing i did otherwise would be looking at a massive loss now.
It doesn't matter if Vince has heavily invested, it just means he is heavily underwater now.
DYOR...but its only going 1 way....down the pan!!!
Hi mike interested in your comments about irr not staying on aim,could you explain your thoughts and how that would effect holders,cheers
Yes good post Pipkin. How does anyone on here know when other investors are selling? Is there a secret circle going on in here and twitter ? Some big holder or holders are selling though, coinciding with hardly any posts on here and twitter from large holders who used to be frequent. All very strange. I have a six figure sum in here, and am a bit perturbed at what’s going on here. I wonder how long this will stay on aim.
Good write up pipkin,be surprised if Toro has bailed,H and F still here.has been an up and down year here,but the movement after the vw meeting shows how quickly this can move,and that's without any news on any jorcs from are assets.tough market at the moment but I believe vm will come good in the end.
There doesn’t appear to be a lock in period for the placing shares,and I can’t believe any investor would sell with no profit straight away.
What I do know is that there has been 2 maybe 3 investors who have sold up/sold down Irr to invest in Ffwd. Unfortunately I also believe after the last placing we have lost a large private investor and maybe a couple of others to.
I have been invested for over 3 years with a great group of long term investors who have been staunchly loyal to Vince and Irr and always believed in the way the company has been run.
Saying that I do believe Vince has just used up his last bit of goodwill and needs to deliver in the next 6 months
We have just had a small £2 mil raise which I believe is to see us through until we get the first gold drill results back from Zaranou. This should be achievable in the time frame as we only plan to drill 6500m. In the mean time we should have Ewoyaa drill results back and our first jorc in place.
Len has always said he wanted to have at least 20mt jorc and this should we should be able to do
Also we are only targeting the highest priority areas at Zaranou that have been proved up by trenching results and radionics which could back up why this deposit has been fast tracked before any of the other gold licenses we hold.
I personally have been adding significantly over the last few days and can confirm that a lot of these trades are in fact buys
Vince knows it’s time to get some numbers and IMO he will be looking to get deals done to take Irr forward
Who bought in the 10p placement sell their shares straight away when they are issued?
Or is there a lock in period?