George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Agreed IVS - a very positive move and I have just topped up with another 300k @ 1.10p - Happy with that and will add to my LTH targeting 2p as a minimum :-)
Whilst slightly disappointed to see a placing, I believe that this will enable ZEN to make the next step up given the areas that the monies will be spent on. I firmly believe that ZEN is in the best position it has ever been in with regards to cash generation, however I imagine that Oil is sold and paid for on delayed terms and therefore this fundraise enables them to crack on without having to wait for monies received from production. Also a 7% discount in the current market is a great achievement, especially taking into account that we were < 1p not that long ago when the placing was probably actually being organised. I will be adding for sure as feel that ZEN has turned the corner and is well placed now to maximise their position. Onwards and Upwards :-)
Agreed brig and RG has confirmed via email that PR is still the CEO of BritNRG so we can move onwards and upwards.
MMs have found a few shares @ 0.95p but they aren't going to last long
Some really decent buying since 3pm and looks like the bottom is in - massively undervalued and asking 1.05p now on IG for any volume................. Interesting times
I would tend to agree, even at 10,000kg per month that would still be over $1m in revenue per month.
It's what was stated in today's RNS MrCautious, tbh even if it is a tenth of that value ie 1,000 tonnes per month, that is still significant revenue.
Does anybody have accurate estimate of the price for Tantalum ore, I am aware that we have an off take agreement which may differ, however from what I can see online, Tantalum ore sells in the region of $75 - $150 per kg. By the end of 2022 we plan to be producing 10,000,000kg per month (10,000 tonnes) this is huge revenue !!!!!!
That was exactly my thoughts Max19, it would make sense and profitable by end of year ties in nicely with expectation of licence for the HMS.
That was exactly my thoughts Max19, it would make sense and profitable by end of year ties in nicely with expectation of licence for the HMS.
Also interestingly the higher priced warrants are at the same price as quoted for the investment by the 2 significant investors............
A short term loan of £250k obtained to ensure delivery of projects and profitability is not affected by any cash flow challenges. Great update on projects as well:
· Company anticipates that all its existing operations will be trading profitably prior to the end of 2021.
· It further anticipates being cash flow positive in early 2022.
The grant of the Mining Permit for HMS is also now expected before the end of the calendar year. The Company has recently been asked to provide an environmental rehabilitation guarantee, which is apparently one of the last steps prior to the Permit being granted. With the Permit in hand, the Company, as previously announced, expects within 6 months, to begin generating additional profits of up to $300,000 per month. These numbers will be improved even further by introducing a third party to build and operate a separation plant for which discussions are already underway. Simultaneously, the Company is pursuing an application for a Prospecting Right over an area which is approximately 34 times larger than the current site.
Diamond production will also increase as Heavy Mineral Sands are mined, with an estimated increase in diamond production of an additional 300ct per month and with an enhanced value of approximately $750 per carat anticipated.
In Namibia, the expectation is to export the first commercial delivery of Tantalum before the end of the year. Volumes will then steadily increase with the aim of exceeding 10,000 tons per month by the end of 2022.
Simultaneously, the focus will be on establishing further mineral reserves as well as on developing the Company's Lithium opportunities.
MMs short of stock and won't let any buying at this level. As stated previously, if the well was producing at 20 BOPD and the item was only working at 20%, that implies 100 BOPD without the workover so we could be looking at 150-200 BOPD maybe higher !!!!!! This should enable us to break 1.50p
This is starting to look better - come on MMs make a market ! ! !
Only 5k available now before NT - come on MMs move it up and make a market ! ! ! !
Agreed gmed-2 regarding the details, I always thought that it was slightly odd that we had Joint CEO's, if they were part of the investment case, it all makes alot more sense and Larry has delivered on his part and now Dennis will accelerate all projects with the addition of the funding - Exciting times and glad that I topped up over the past 2 weeks
The 1m trade and the 2x500k trades have cleaned out the Ask and they are asking 1.30p on IG for anything larger than 10k shares. Feels like the rerate could be on and all of the recent positive news finally reflected in the share price.
Very interesting, Ironveld investment at a premium to SP and very similar to that discussed and released by KZG. I wonder if the new CEO Dennis Edmonds joining and Larry leaving was a condition of the new funding............
Major Investment Agreement to raise £5.6 million at 1.0p per share for Project Funding
Ironveld (AIM: IRON) is pleased to announce a proposed new major investment by Grosvenor Resources Pty Limited ("Grosvenor"). Conditional only on shareholder approval, Grosvenor will invest £5.6 million (the "Subscription Funds") in the Company via a subscription (the "Subscription") for 561,505,950 new ordinary shares (the "Subscription Shares") in the Company at 1.0p per Subscription Share (the "Subscription Price").
· The Subscription Price of 1.0 pence per Subscription Share represents a premium of 62.3 per cent. compared to the 20-day VWAP of 0.616 pence and a premium of 90.5 per cent. to the mid market price of 0.525 pence on 29 March 2021, being the last trading day prior to the announcement that Ironveld was in discussions that might lead to a material transaction;
MMs asking 1.20p on IG for anything larger, although they won't actually move the Ask up currently yo allow most to buy..................
All 3 of the 150k trades showing as sells are actually buys ??