Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
From Share Prophets website.
Ironveld – a 'no one watching o’clock' day results announcement. Uh oh...
By Steve Moore | Tuesday 29 December 2020
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from *************). I have no business relationship with any company whose stock is mentioned in this article.
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Ironveld (IRON) has today announced results for its year ended 30th June 2020, concluding “we look forward to providing further updates in the near future”. Hmmm – releasing results on largely ‘no one watching o’clock’ days such as those this week doesn’t tend to mean good news…
It emphasises that it has “unfettered rights to 56.4 million tonnes of magnetite ore, which the JORC compliant mineral resources demonstrates holds 1.4 billion pounds weight of Vanadium – equivalent to four times annual global Vanadium demand; 27 million tons of High Purity Iron in situ; and 8.3 million tonnes of titanium” and that “discussions continue with IIG and other parties with a view to concluding a strategic or project financing transaction. The recently completed placing gives us a strengthened financial base from which to negotiate an alternative project funding transaction and we are focused on delivering this in 2021”. However…
In March 2020 it announced it was “delighted to be working alongside IIG as our strategic partner and have no doubt that together we can capitalise on Ironveld’s huge potential”. That was with a ‘strategic partnership’ including arrangements to raise a potential approximately £2.7 million ($3.2 million). However, last month it was updated that the companies “have agreed that the option agreement will not be extended on its current terms and will now lapse”.
What happened to “no doubt that together we can capitalise on Ironveld’s huge potential” then?! And the company may be “focused” on delivering a project funding transaction in 2021, but it was also so from at least July 2019 – when it appointed finnCap to lead a review of the strategic options for its mining assets.
The results show “administrative expenses” of £0.7 million, current assets of just £0.1 million and current liabilities of £1 million – as noted on a £1.15 million recent equity raising, I guess being able to continue to trade is necessary to be able to seek to advance development negotiations!
That also saw me note a Fundraising Roll-Call Of Shame from a 0.65p share price and I noting still future cash concerns. With now the attempted no one watching o’clock results release – and it looking obvious why, natch still bargepole / sell.
Ironveld (IRON LN) 0.52p, Mkt cap £8.75m – Results and placing
Ironveld reports its FY results and the failure of its 8-month strategic review with the Inclusive Investment Group to secure financing for $3.2m.
The company reports it has raised £1.15m in December at 0.30p/s by way of a placing and broker option.
The company has a non-JORC resource of 56mt grading 1.12% V2O5 with 68.6% iron and 14.7%TiO2 The resource is SAMREC compliant.
A DFS published in April 2014 confirms the project's viability to deliver a Vanadium **** product for which the company has an offtake agreement as well a High Purity Iron product which commands a premium in the market place and Titanium **** containing commercial grades of titanium.
The financial results show low admin costs and expenses the company still recorded a loss of £1m for the year to end-June 2020.
Conclusion: Sometimes a company should wake up and smell the coffee. Mining juniors need to park stalled projects till conditions improve while working on more viable projects. We are not saying their High Purity Iron project will never be developed as we expect vanadium prices to rise on strong demand for ferro-vanadium for steel and for vanadium for Vanadium Redox Flow Batteries but the project may need significantly better conditions for financing and development.
the sp is low because if you look at the balance sheet most of the assets are intangible. if you remove the puff of air the auditors claim under intangible assets, our company has negative asset value.
Have you reached out to Global Witness? mail@globalwitness.org
They would be interested in how CGH controls CGO and who controls CGH.
I am so sorry to hear about your accident and incarceration. i only wish you the best for the future and that it all works out for you. 10 years is a long time to be sober. Do it again ! all the best, AI.
I warned you about Simon. He lines his pockets, looks out for himself, and injects low quality assets into micro pence listed shells. I told you that PAR was a mess that you should not have invested in. AI
how have you been ? I told you ages ago Paragon is a mess. HUN is not turning out much better. What is new on your side? AI
Hi Bugzy, And just to be clear one should never invest and expect to receive a solid return on their investment based on a two week period. Please remind me in six months what I said and, where the AFPO share price is versus my 1.5p aggregate entry price. I am quite confidence of my recommendation. All the best, AI
Hi Bugzy, 2 solid drill holes, interest from several parties and a series of CEO interviews highlighting the interest from India, Nigeria and China to buy the company. AFPO is transparent, has a CEO that is publicly stating a deal will be done with someone soon, with a sector compound, KCl in demand globally. I bought when I highlighted this to ST and I bought 2 days ago. This will fund a lovely condo for me in Spain in 2015. I did the research in AFPO, just like I did on PAR. Good luck, AI
Hi ST, happy Christmas to you and the everyone else. May you make wagon loads of dosh in 2015. ATB, AI
Hello ST, if you want a share that should make back your losses at PAR, look at AFPO. Read todays RNS. It is a real deposit with real potential. And with solid management. Good luck, AI
Hi Ryn82, I mistyped, the word should have been 'had'. Cheers, AI
Hi Sril, I saw the PAR mess coming even though I was looking for a reason to invest. Management rewarded themselves before doing any work, that was the most obvious sign to avoid the share. I am sorry ST and others are involved with PAR. The rare earth industry is not easy and funny enough, HUN has a palm oil farm on the same island as the rare earth deposit PAR proposes to get involved with. There are much easier ways to makes money, with honest boards. AI
Hi ST, great to hear from you! Indeed, long dated Peruvian llama pasture has many years before anyone will see a potential return. So we might as well talk about PAR also. Maybe Andrew quit to become the CEO of HUN? I am sure there are some Agri plays in South America.
Does anyone here know what happened to the Paragon Resources forum? It seems to have disappeared.
Hi ST, I told you that the CEO would resign. he was a cause of this mess also. He was a willing recipient of all those free shares for the Green Star shell. He didn't say 'let me do a deal then the company can pay me in shares'. The CEO was just plain greedy. Both the Chairman and CEO wanted shares for free and karma engulfed them both. I am sorry to see you and the others lose out here. AI.
There seems to be real potential to make some money here.
but i told you so. This management team has legged over investors wanting agri exposure. And the rare earth industry is hardly robust. Just ask Molycorp or Lynas. The supply of REE is massive while the demand is low to average. One would expect the CEO to step down anyday now as REE and West African agri expertise are worlds apart. But look on the bright side ---that wonderfully value enhancing shell Greenstar that gave the Chairman and CEO a tonne of free scrip is still in the PAR portfolio! GLA, AI.
To ST and other shareholders, I think a deal will be announced before the deadline. I do not know this as fact. The issue is this chairman has a record for doing bad deals but enriching himself. I feel par shareholders are being financially ravished. So the share price on relisting should be lower than where it closed, all things being market related. Back and support good management team. This company is 100% bad. GLA, AI
Hi ST, it is my understanding that as long as the company files the required documents before the end of the grace period with a clear path to relisting, it is allowed. So even if you do not hear anything tomorrow all is not lost. Good luck, AI.