Member Info for Bozi

Mike - no. I'm not saying you should ignore the CEO but you should filter and process everything they say critically but fairly because you won't find one CEO who isn't bullish about the company they run.

Their whole mantra is to attract investors.

And for disclosure Mike, I've been a buyer of shares above 20p as have my family.

And for information, and a few will attest, i wasn't best pleased with the 7p placing.

No i can't Mike.

The price spiked to 47p much on hot air as we struck up various joint ventures with our partners. We had no discoveries, we had no JORC resources etc.

A correction was in order.

What happened then was the decimation of sentiment around lithium as a load of producers with below par product came to market. This left the early stagers like IRR high and dry.

2019 in general was a poor year for resource juniors. The money simply wasn't flowing into the sector. Only those who made what looked like above average discoveries performed well. IRR were still correcting.

My view is that if you hsve bought shares in this company at 20-47p then you can full well take responsibility for those buys and either show some patience whilst the prpjects currently being focused on are advanced or alternatively sell up and go and invest in a company you feel more bullish about.

I suspect those shareholders getting worked up will stay, because they know full well what could be coming.

Correct Dean.

This became 7p because the company made it so with a placing that was priced "to go".

The company used up a lot of goodwill with long term holders who weren't offered the chance to particpate and held from higher prices.

But that is done now. We've got to look to the next 6 months and what Zaranou can become, all the while collecting a few quid at 12p.

For me Chad is a jurisdiction that becomes high interest when gold is in the midst of a bull run - by that i mean upwards of $2200. It is new ground for gold prospecting and won't have the lowest cost of discovery the world has ever seen so the company must choose carefully on when to execute. They have the blueprint from another company in the DGR stable.

How much is Zaranou worth with a resource size of, for illustrative purposes, say, 2m ounces, with a gold price in a couple of years time of $2000 and an AISC of $800?

Add on the lithium.

And so on.

Even if you assumed 600m shares in issue to account for future fundraises i think the potential is still pretty clear cut.

I don't think it would be right to second guess that but i have no evidence to back up that point.

Thank you for making it clear. Those getting annoyed at the warrants being exercised wanted the SP to run higher so they could bail is how I'm reading that.

People can make plans as much as they like to get out at certain prices but this is the stock market at the end of the day. There's no guarantee it's going to listen.

Possibly Mike but i think we're getting too worked up about the price short term.

What difference does it make if the price goes back to 12p as long as progress is made on the ground?

I can't see your post from last night. It sounds like a question for a geologist though because to investors we see large scale projects, good rock chip and soil results etc. I suspect there are differences in the rock formations (Zaranou is Birimian).

If you're on twitter it is maybe one for @geologycharlie

Isn't that the idea N2S?

If you participate in a placing and that placing includes a warrant element then your two area of focus are:

1.) Ability for stock to go higher from placing price
2.) Ability for stock to go higher from warrant price and provide opportunity for exercise.

IRR has bucked a bit of a trend because usually on AIM point 1 is usually fine but point 2 fails and there ends up being a load of out of the money warrants.

The warrants are just one small part of the bigger picture. An insurance to the placing.

If Zaranou continues to show promise then i don't think the warrants will be much to talk about. Look at GGP for example. Share price has been up at 15p and yet optionholders are exercising options priced at 0.28p.

N2S - how did 7-20 'overshoot the runway' exactly?

Do you know what the VWAP is?

There's nothing to say the company needs to do anything with the warrants right now. Vince said in May when raising the £4.75m that the company had enough funds, with the use of what remains on the geodrill MOU, for 12-18 months.

Some holders have elected to exercise their warrants now. Might i suggest they're the loosest hands. A lot of the remaining warrants our in the hands of management and our corporate backers.

There will likely be a call for the remaining warrants but there's nothing to suggest that will be any time soon.

Agree with Sharketmare on the lithium. A unique set of circumstances there has damaged prices in the short to medium term, so all IRR can do is add value and market the asset when demand improves.

Have you a link for the redcloud interview earthling please?

As successful investors in the gold space some of your comments about IRR (in fact a lot of them) surprise me.

There's no need for a direct comparison between the two companies. GGP will have advantages over IRR and vice versa.

As investors sitting on anywhere between 100 and 1000% upside and even more than that in the odd case it's worth being aware of the opportunities coming through behind GGP.

There are many operating mines in Ivory Coast (Chirano -5moz, Bibiani- 5.5moz and Ahafo- 17moz) and other projects being developed. Majors have big land positions. And have ploughed significant cash into the country. You would back Newcrest if they did this so what is the difference?

IRR have the third largest land position and work closely with the government.

On GGP - things continuing to roll on really well. Scallywag is excitong some investors i know as drilling draws ever closer. Havieron is what it is... a substantial deposit. Look forward to the MRE.

Fellas fellas.

It doesn't matter. Chill out. Get on or get by.

Frog

Personally i was buying these at 1.5p and there's no way i would be happy with a takeover in the 40s.

This is a once in a lifetime investment opportunity. The chance to make a country.

40-50p would be a bit of a disaster all told.

No worries Miagi365

TheItalian

I'm a bit surprised that you felt the need to "critique" the company on the "missing of exit points."

We've been in the low to mid 40s on three separate occasions during the discovery and study stage. How many potential exit points do you want?

As for the three who recommended your message - I'd ask the same question to them.

If the company wants to pursue a strategy you don't agree with then the door is usually a good place to start.

I'm not sure it's that simple LJS.

If they were on AIM they'd just call an EGM as you say and up the headroom but when listed on main market a prospectus is required, which for a company of KAVs nature would be laborious and expensive.

Interesting trading right now. Plenty of buyers vs someone derisking 1m share lumps.

Dont forget that KAv are main market listed which restricts the number of shares they can issue.

Their financing earlier in the year maxed out their headroom at a time where prices across the whole market were suppressed.

We're due an update on the KSZ desktop work with Mira and Dr Howells and i wouldn't rule out something about the licence applications and a plan for exploration on the KCB.

Should be interesting times.

If you're DELT and you have the opportunity to derisk by joining forces with "potentially the biggest UK onshore hydrocarbon discovery since 1973" i struggle to see why you wouldn't take it.

Granted, the implied offer price doesn't include a premium but when you are non-operator of licence blocks which are subject to the strategy of a supermajor with a diverse portfolio of opportunities, your hand ultimately isn't strong enough to warrant one.

Just picking up on some chat from recent days.

Let me say as someone who ha also been invested since 2016 that the time for IronRidge is now upon us.

Today's licence extension is good news. The company simply has to rejig it's portfolio to build contiguous areas covering mineralisation and space for mine design. I suggest both aspects have been high up in management considerations.

Swest - I've had a few moments here where I've lost sight of the journey somewhat but now isn't one of those times - and i say this as someone who wasn't offered the 7p placing. Yes, Zaranou needs to deliver good resukts from the latest drill campaign. If it does then i suspect attention turns to infill drilling in Q4 and onwards to a maiden resource estimate.

I wasn't happy to see the 7p raise and i wasn't chuffed with the one before it either butwith hindsight i can't agree about the 35p raise being unfavourable. We reached a £100m market cap and all we had was licence areas!

This company is now well on it's way. So much has been achieved in the last 3 years in Ghana and latterly in CDI and whilst I'm not expecting anything to happen overnight (given market mechanics) i hsve no doubt we'll get back to 20p+ with fair winds at Zaranou.

LOL 4LY.

Can take another year as far as I'm concerned.

Tick tock, tick tock, tick tock.