Member Info for Bozi

Agree Swest.

This looks ready to bounce on the technicals and we know what the fundamentals look like as far as gold and lithium are concerned.

This could be last knockings for getting hokd of the last of the cheap shares, no left field news pending of course.

Earthling

You increase the SP by continuing to make progress on the ground.

At Zaranou, this means completing the 50,000m infil campaign and putting together a resource estimate for Ehuasso.
At Dorothe, this means getting the drills going and (hopefully) having some good results.
In Ghana, this means progressing the mettalurgy for the starter pit, adding to the resource through further exploration and finalising a scoping study.

All the while we need to avoid another fundraise in single figures. Use the outstanding instruments to bring cash in.

I'm just not convinced that selling the lithium right now is the right thing to do because i think there will be a better opportunity within the next 12-18months. The iron ore assets are no longer listed on the website so I'm going to assume they carry no significant value.

Maybe the question to ask investors is....

What is putting you off buying shares in IronRidge at a smidge over 12p?

I personally don't believe asset sales are the right way to go. It's unlikely we'd receive anything like what the assets are going to be worth in the future and i don't see the point of having a few million quid in the bank just to see a higher share price, just for traders to sell it off all over again.

There's one scenario where I'd consider a JV but I'm not willing to discuss this on a public bulletin board right now.

We were 20p a few short weeks ago. 12p is a bargain relative to that.

Well said MathersFinger 18:01

Dreamer is putting it politely.

Yes but when those licences were put on c&m we had no Zaranou.

Priorities change.

I'm just setting out what my expectstions are for these licences. I just don't think they're going to come to prominence in the grand business strategy any time soon.

Vince and Neil bought shares at 15p a couple of months ago.

IMO (no advice), now is the time to be squirelling these away whilst it's quiet and there's a seller dripping them into the market. The macro picture for the two main commodities looks good snd set to improve further.

Guys we're waiting for licences re-applications (with 50% area reductions) to be approved by the ministry in Gabon.

This package has been so far down our priority list for the whole time I've been invested in IRR that there's no guarantee there will be significant value to be gained short term.

This whole "flog an asset for any price" mentality has to be dropped. It's not how IRR work. If they did decide to divest, we'd likely be looking at a deal where there's a bit of cash but mainly an interest in the entity taking the licences on. Look at the deal for May Queen to see what i mean.

At the end of the day we have infill drilling ongoing at Zaranou. We're about to get boots back on the ground in Chad and the lithium project is ticking over with positive sentiment building as the weeks pass.

Iceberg, you have smashed the nail on the head on this thread today.

A bit of a waste of effort fighting the good fight in my view but it's up to you. A doff of my cap.

Barwickman - that job will sit with Leap and the brokers that help them come to market in 2021.

No dramas. We've hopefully seen off the worst of Covid and hopefully we can see these investees flourish in the next 12 months.

Aim

The £2m raise was post reporting period so isn't included in the cash balance.

That's the million dollar question Mike29, not one i can confidently answer.

What i would say is are we going much slower than the likes of Tietto? They appear to be 12 months or so ahead of us and they have an updated resource estimate. Can we get there in 2022? Why not?

On the Ghana front we have a base upon which we can build. I'm pretty sure they could sell the asset next week if they wanted to, but if it's not going to realise a significant profit vs the cost of discovery what is the point? Again, I'm saying 12 months whilst we increase the resource, advance metallurgy and mine studies and wait for prices to move further in our favour.

Chad is obviously more early stage but now progressing. Probably 3 years away from anything meaningful. Chad for me catches the 2nd half of the expected gold bull market providing we don't meet any further delays.

On the topic of the iron ore in Gabon, these projects have JORC compliant resources but there's fairly significant CAPEX involved. I'm not saying we won't be able to sell it in the future but I'd be less sure of a bonanza deal.

I don't like to see us wallowing here as much as anyone, with what appears a lack of meaningful interest, but i am thinking that the next 6-12 months sees material progress across the board then we simply have to trade up from here.

Start acting and stop talking, Bentnose?

That's a ridiculous statement.

What do you think 3 drill programmes in CDI is?
What do you think a lithium JORC is?
Also about to put boots back on the ground in Chad too. No action there either then?

Don't confuse a lack of action with your desperation to flog assets that haven't been sufficiently developed.

AC34

Initial thought was no but i suppose they could. It just wouldn't be as lucrative for anyone still holding placing stock unwilling to double down.

Bentnose

It might have something to do with our board not being keen to give away up to 70% of an asset for a fairly meagre amount which all gets pushed into exploration of said asset.

Think about what it would mean for IRR.

GGP have located a fantastic looking deposit at depth and they have the processing plant 45km away, thus reducing their development overheads significantly.

A JV made absolute sense for them and moreso for Newcrest.

IRR is a slower burner and there's no desire to really understand it when there's a fashionable brother.

Don't forget that IRR have had Sumitomo and Assore on the register for years, long before Newcrest rolled up at Havieron.

Blackhopper's posts are pretty spot on.

Miagi - I am saying that I have an appetite for the bigger picture and the real potential gains that are on offer if SOLG manages to pull this off in a sustainable way.

I've also made it clear that people are welcome to trade it short term if that's what their desire is but for me this does reduce their entitlement in terms of berating management for a small extension to a deadline for example, like we're not coming out of the most extra-ordinary of years.

I'm jealous of nobody I can assure you of that. You couldn't be wider of the mark.

The bottom line is that the company has asked for shareholder support today and numerous people have taken to this board to berate Mather or his colleagues. So fickle. So reactionary, taking nothing into account in terms of what has been achieved so far.

Nail. Head.

RK1 - your posting history today is all the evidence I need. You mentioned to someone else that you'd run if offered 100p and so the chances are you'd accept a bit lower than that too. If I'm wrong I'm wrong but I'm reading between the lines of your comments.

I don't really care about your history. You are taking the high ground that it's your business but you are only too willing to tell everyone (as often as you can) how much you've made and how masterfully you have bought and sold, so give it a rest please.

You will never get very far chasing someone for advocating a balanced portfolio. Fact. I'm not telling you who I am or what my certifications are,but I'm sharing sound sensible investing principles. That's a fact.

To save two separate responses, your shareholding is no barometer of how long you hold. People trade size on a very short term basis when the opportunity presents. Sometimes they do it anyway, thus explaining some of the breaks to the upside and downside when supported by trading volume.

Happy birthday and well done on your gains.

Can't say I saw that Miagi, but the same comment applies regardless of who it is.

I also agree with what Colonel said half an hour ago.

Boot the board and cheap cheap dilution is what you will get.

A deeply discounted capital raise to unwanted hands would be most likely.

Only the ones that are guilty Miagi.

We've all seen these characters who appear on here calling all sorts of prices to the downside and before you know it they've gone long.