Member Info for HereforHemo

Whilst I understand concerns there has been no update since early June, there is no doubt mining and processing operations commenced on 6th June, and that statements had been made they would ramp up production to 20,000 tons of unweathered magnetite ore per month. Furthermore, it would be a very strange situation indeed for a company to announce a fundraise for the specific purpose of procuring a second larger ball mill to meet the demands of larger offtakers if either the demand or said offtakers weren't there.

Therefore I see no reason why the SP won't substantially increase in the near future and although it may be frustrating not to receive a daily commentary, every day that passes puts IRON on a better position for both revenue and profitability. In my opinion anyway. I'll be patient and just wait to hear what I expect to hear.

HG interestingly Sable up 40% following the meeting.

https://www.sharedata.co.za/v2/Scripts/News.aspx?c=SXM&x=JSE

The Sable meeting is just about to start. Should be interesting.

HG whilst that may have been true under previous management there is no doubt following the RNS on the initial blast on 6th June that mining and processing operations have commenced:

'This initial waste blast is expected to have exposed approximately 3,000 tons of unweathered magnetite ore, which will be subsequently blasted and transported to the JV DMS processing plant for conversion into dense media separation (DMS) grade magnetite.Over the coming week, the overlying Gabro Norite waste rock will be removed to the designated waste stockpile, enabling blasting of the exposed magnetite ore into the pit and the commencement of consistent ore delivery to the DMS JV plant.

Lapon Mining is targeting production ramp-up to 20,000 tons of unweathered magnetite ore per month. This will be achieved by extending the current bench to 100 metres and establishing a second contiguous 100-metre bench, both of which have already had topsoil and free-dig overburden removed and are ready for the next phase of drilling and blasting.

Ironveld CEO, Kris Andersson, commented:"We are very pleased to have completed our first blast successfully, and safely. This represents a major step forward in developing a consistent and scalable ore supply from the Lapon Mining operation.With mining now underway and ore sales to the DMS plant set to commence, we are well positioned to ramp up production and meet growing demand. These developments reflect the success of our strategic investment and development initiatives, which are now delivering tangible, value-accretive results. We are operating with strong positive momentum, and I am confident in our ability to continue delivering and capitalising on the significant opportunities ahead."

Furthermore it is clear that the 20,000 tons of unweathered magnetite ore per month was not enough to meet the demands of larger offtakers, hence the raise to procure a second larger ball mill and associated infrastructure.

We know it's been two months since the first blast and we know there's a tender for offtakers that's been issued and we know they have working capital in the bank.

But you are correct, we need an update on where they are up to reference the above. If we don't get one from IRON early next week we'll certainly get one from Sable on Wednesday.

Correct. From RNS 22nd May:

Offtake agreements for the DMS grade magnetite product are at an advanced stage, and we have potential to sell significant quantities into Mozambique, as well as locally in South Africa, where we are currently in the bidding process for a tender.

Seems to me the majority owner of Mantengu has just lost a lot of money and has thrown his toys out of the pram. An investigation by the Financial Services Authority found no evidence of any wrongdoing and from what I see the counter suit of defamation is highly likely to be successful.

https://www.fsca.co.za/News%20Documents/FSCA%20Press%20Release%20-%20Statement%20on%20Mantengu%20Mining%20Limited%20_23%20May%202025.pdf

HighlyGeared What's also interesting is that Sable have been extremely reticent to meet their shareholders so by agreeing to meet them you'd assume they have something positive to say.

My take on IRON is simple, they have a plant insured for 30m, 1m in the bank with a larger ball mill to aquire (maximum 200k), larger offtake agreements to be announced and production that started with first blast some two months ago.

Personally I believe they are substantially undervalued and good news is imminent.

Ironveld CEO, Kris Andersson, commented:

"Market demand for our DMS-grade magnetite both from within the South Africa market and from nearby export countries is exceeding our current processing capacity. We are therefore looking to ramp up processing capacity through the acquisition of an additional larger mill and associated equipment. In addition, demand is also emerging for unprocessed Run of Mine ore, requiring investment in preparation for meeting demand. The placing attracted very strong interest and was significantly oversubscribed, reflecting the continued confidence and support of our shareholders"

Sable meeting next Wednesday to give an operational update to shareholders. I can’t see them giving an update without Ironveld doing the same?

General Meeting at 10h00 on Wednesday, 6 August 2025

Results of the General Meeting published Wednesday, 6 August 2025

on SENS

Website link www.sableexploration.co.za

Important Note:

No ordinary or special resolutions will be tabled or proposed for voting at the General

Meeting. The purpose of the General Meeting is to allow shareholders the opportunity to

engage with the Company on matters raised by the requisitioning shareholders.

Lots of money available for a takeover? Let's hope the production figures are good. https://www.miningweekly.com/article/kumba-iron-ore-reports-r79bn-half-year-free-cash-flow-declares-r53bn-dividend-2025-07-29

BEIJING - Iron-ore futures prices held well over the key psychological level of $100 a metric ton on Tuesday, while investors closely monitored the renewed Sino-US trade talks for signs of progress.The benchmark September iron-ore on the Singapore Exchange was 0.61% higher at $101.4 a ton, as of 02:05 GMT.

With steel making ingredients falling around 11% profit margins are looking very promising.

Ironveld Technical Director, Peter Cox, commented:

"By directing investment into key infrastructure upgrades and mining operations, we are positioning ourselves to meet both the volume and quality requirements of larger offtakers. The development of our DMS processing plant and associated mining activities is progressing in line with our expectations, and we remain focused on increasing both production capacity and operational efficiency in the near term."

That’s what Peter said on the 11th June. The ‘near term’ is anyones guess but my view they’ll be aiming for substantial progress before the Sable shareholders meeting which is being held on 6th August, so I’m certainly expecting a very positive update either this week or next. GLA.

Multiple 10 million buys followed by multiple 20 million buys and now we have a 50 million buyer.

Although happy to wait I still think news is imminent, probably next week imo.

Duster I don’t think Sable have the financial clout to buy us out. I do however think a buyout is possible but more likely to be a major like Anglo American imo.

NASA iron ore is currently trading around £95 a ton in South Africa and remember they are not only selling iron ore (see RNS’s) and even the iron will be sold as iron power that commands a 20% premium, hence why my prediction is higher than yours.

As I’ve said before Sable agreeing to meet disgruntled shareholders in the next 10 trading days to discuss operational progress means only one thing in my opinion, news is imminent.

SM after ramp-up in a 50-50 JV I'd estimate around £1m a month to Ironveld, 20% more when selling iron powder.

But they're fully funded to aquire a second larger ball mill to meet demand so they may well increase production from 20,000 tons a month to over double that or more.

I'd guess profit at around 50-55%.

Interesting that Sable Exploration and Mining having long resisted having a shareholder meeting have now agreed to meet them for a progress report on the 6th August.

My guess is they wouldn't be meeting shareholders unless they had something meaningful to report so I'm expecting an Ironveld update on production before the 6th.

Article from two months ago. Just a matter of time..

https://360mozambique.com/business/mining/ironveld-sees-mozambique-as-strategic-destination-for-magnetite-exports/

Personally i wouldn’t call announcing their first successful blast ‘ramping up’, I think it was a major milestone. And as for the photos, irrelevant to me, what was important was the comment:

“The commencement of consistent ore delivery to the DMS JV plant. Lapon Mining is targeting production ramp-up to 20,000 tons of unweathered magnetite ore per month”

We know from previous statements it takes less than a month to get to 20,000 tons per month from initial production which I believe they’ll already be producing and again I believe that’ll be a minimum of £1m a month revenue to Ironveld.

With a second larger ball mill being procured and installed which is fully funded, the skys the limit on revenue and profit.

News will come soon enough!

It’s getting on for six weeks since Kris said this:

“CEO, Kris Andersson, commented:"We are very pleased to have completed our first blast successfully, and safely. This represents a major step forward in developing a consistent and scalable ore supply from the Lapon Mining operation“.

It’s quite possible when they issue news they’ll have ramped production up to 20,000 tons a month, in which case the RNS could be a blockbuster. With the additional larger ball mill still to be announced with larger offtakers it’s all looking very promising imo.

Ironveld CEO, Kris Andersson, commented:

"Market demand for our DMS-grade magnetite both from within the South Africa market and from nearby export countries is exceeding our current processing capacity. We are therefore looking to ramp up processing capacity through the acquisition of an additional larger mill and associated equipment. In addition, demand is also emerging for unprocessed Run of Mine ore, requiring investment in preparation for meeting demand. The placing attracted very strong interest and was significantly oversubscribed, reflecting the continued confidence and support of our shareholders"

Pretty unique in the current market to have raised with only a 4.25% discount. You can see why from the quote above.

This seems ready to fly in my opinion.