Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The RNS and exploration update yesterday on Côte d’Ivoire shows the strength of the PF imo. Yes, we have the Lithium priority across the Cape Coast in Ghana and the Dorothe in Chad and I believe Zaranou in CDI, but the ‘Pipeline’ that the company talk about coming out of CDI is really exciting too.
Yesterday’s RNS had updates on 6 licences. It’s a good read and once again shows what’s coming.
144m of channel sampling (not easy to do either) is looking to cut into those quartz veins I think, of which there seems to be multiple veins.
(Great to see old school mapping skills being deployed too).
‘Detailed face mapping and sampling completed within 145 primary 'hard-rock' artisanal mining pits over a 16km strike for a total of 324 rock-chip samples inclusive of 144m of channel sampling submitted for assay at the Zaranou gold license’
From RNS Highlights
Some companies mine just one quartz vein. The artisanal miners have shown the way once again.
IRR are chasing 9 in Chad remember. Is Zaranou going to rival Dorothe?
The other licences like Kineta and Marahui could also deliver, I love the way this was slipped in at the bottom of the highlights. ‘Finally, we are advancing our Kineta-Marahui portfolio where trenching has returned encouraging initial trenching intersections including 2m @ 4.04g/t gold." Hello, hello.
So what are the next steps in CDI?
Next Steps:
The Company is planning infill AC drilling fences at Kineta to further test the mineralised trends and better test for high-grade gold shoots at depth.
At Marahui the Company will plan trenching or AC drilling to test the highest priority soil anomalies.
At Zaranou the Company is planning infill AC drill hole fences to test for mineralisation width and continuity within high-priority zones highlighted in channel and rock-chip sampling assay results. Concurrently, the Company is planning a drone survey for accurate topography in addition to detailed air photography.
At Bianouan and Bodite the Company is awaiting results of the aircore programme before planning the next steps.
https://www.bloomberg.com/amp/news/articles/2019-04-03/battery-reality-there-s-nothing-better-than-lithium-ion-coming-soon (Now researching this over the weekend). “I think lithium ion can absolutely dominate all storage, but you really have to get into new chemistries to do that,” he said during a tour of Sila’s San Francisco-area headquarters, where a new Tesla in the parking lot sports an “I [heart] Li-ion” license plate. Sila’s silicon-based powder can be fashioned into an anode. At the atomic level, silicon can hold more lithium than can the carbon in graphite, the most common anode material, which means batteries using Sila’s product can store more energy. The company has raised about $125 million to date and formed a partnership with BMW Group to develop the technology. Berdichevsky said that any competitors offering a radically different battery architecture will have a hard time penetrating the market, as battery makers build out their factories and prices continue to fall. Driven by rising production of electric cars, worldwide manufacturing capacity for lithium-ion batteries almost tripled in the last five years alone, according to data from BloombergNEF. Capacity now stands at 302.2 gigawatt-hours, and plants with another 603.8 GWh are planned to open within the next five years. “The incumbency of the manufacturing scale is incredible, and I think people miss this,” Berdichevsky said. “It’s a lot of investment, and we can ride those rails. And anyone who can ride those rails has a brighter future than someone who says, ‘We’re going to completely change the rails.’”
The supercharging aspect of it is certainly fascinating and very desirable for EV. However, with so much money already invested in Lithium Ion batteries I find it hard to see how the industry will let Lithium ion batteries be superceded for a few years yet. Aline Carnizelo from Pala, Robert Baylis from Roskil & Simon Gardener-Bond from Techmet all though it was interesting but couldn’t see the scaled up impact being disruptive across the sector in the short term. Watch this space I guess. Which way are VW leaning?
Hi Dalester, I’ve heard discussion about the Ultracapacitors recently and it looks interesting. It was raised at 121 as a question for the panel of experts across the battery field and sector commentators. Whilst considered to have lots of potential, my understanding is that the whole EV sector is set up around the Lithium-ion battery and Cathode chemistry around that (whichever Cathode combination). Lithium ion batteries will dominate the market for at least the next ten years and from discussion this week at Benchmark Minerals in London, it seems that 811 batteries still have some work to do to meet the criteria required. The more pressing point for me, is around the quality of Spodumene HR being processed into Hydroxide & Brines for LCE. Battery makers are changing their qualification criteria and asking raw material suppliers for high quality and low impurities. (They've even started to cancel a few contracts if the quality of raw materials isn’t sustained at different check points). Imo, This is good news for IronRidge who have identified a significant Lithium resource with recent results consistently in the 91-98% range of Spodumene with very low impurities as identified in the RNS. (Low impurities is key because it’s the extra refinement that adds cost to a battery unit). The metallurgical results for Ewoyaa have confirmed the quality, although this needs to be sustained across further targets. Given the above information and the supply squeeze about to hit in 18months, it seems to me that IRR could hit the market with quality Spodumene capable of producing the required Hydroxide for battery makers, at just the right time. All subject to further testing and resource expansion. Add in the logistics in Ghana and IronRidge look a very attractive proposition imo. That’s what I’ve speculated on. The ultracapacitors will play a part but they’re not ready to scale up to cover the sector imo. I’ll research them further though. Thanks for introducing the information.
I expect it will take time for the detail in this RNS to filter through but the level of trenching and pits being dug indicate only one thing imo. I thought Ewoyaa West would be good but it’s better than I thought. 50% Resource expansion with Ewoyaa West & Ewoyaa Middlings on top of Ewoyaa 840m strike length at 100m width at Ewoyaa West. But that’s not all. Look at the figs in the RNS identifying the targets to the south of Ewoyaa West (another 1.25km strike length). Then look at the other target areas and refer back to the original Radiomentrics and geophys figs showing the areas to the west of Ewoyaa West and to the east south of Ewoyaa Middlings. Imo it gets bigger still and there are other areas to target around Saltpond and Saltpond East. The SP Angel broker report from March 30th 2019 is interesting reading when you take into account today’s RNS on top of it. Oh yes, what about Egyasimanku Hill? The thing that brought everyone to Ghana in the first place. That could still be bigger yet. Well done to Leicester University is all I can say.
MB- you’re so wide of the mark but don’t realise why. I’m here to make money. Maybe over a different time frame than you & that’s why I don’t get as anxious as you. I don’t coat things but am realistic about the geology and the detail in the reports, results & the scale of the projects across three different jurisdictions right now. Imo, the geo speaks for itself. Iron Ore for example is not realistic with the Capex costs when there’s much better upside in the Lithium and the gold. We could do with an update on Chad but it doesn’t alter the fact, there’s a superpit waiting to happen 3km x 1km there. I’m patient and back the geo, the company & the leadership. What I’m not about, is attacking people, throwing insults around about officials or undermining things with an ulterior motive. Are you a deramper or just here for the wind up? Look at the geophys & info out there.
N2S, I think you’ll find that Mr Crow is still very committed & upbeat about IRR. He was at 121 in London in May and presenting for Lake Resources. I’m invested in Lake and met him there. It was the day the IRR metallurgical results came out around 21st May. On that day I wasn’t the only one to be very positive. Mr Crow is very approachable and helpful. He helped me to further understand Brine processing, the new Direct Extraction technology and hard rock licence in Argentina. We also talked about the importance of logistics in Ghana and Argentina. He regularly comments on twitter about IRR, Lithium and EV. From the RNS detailing the sale from Mr Crow ‘The Board and Mr Crow reaffirms that he remains committed to contributing to the ongoing growth and success of the company as a Non-Executive member of the Board.’ Mr Crow’s shares were acquired by Assore Limited. I can’t stress enough that when the opportunity to meet BoD members comes or attend an event then it’s a great opportunity to verify your research.
Mike29, it was mentioned at the Shareholder meeting. However, it wasn’t a definitive answer stating H2 but that there was discussion at BoD level about what was best for the company. My understanding was that that they could put something out in the short term but the ‘Best foot forward’ for the company (Vince’s words) might be to wait until later in the year. I agree with waiting to later in the year as it will be a bigger MR and give us bigger numbers to play with. Q2 has just about passed now and I noticed that DGR had H2 in their presentation recently. They had two slides on IRR and it was in there. I think you were away on holiday for the last Shareholder meeting. If you can make the next one, it’s a brilliant opportunity to meet Vince, Len and the team. When they do arrange the next one i’ll be there again and I know more are looking to attend. Hopefully, we’ll have a bit more notice. End of November for example. I didn’t mean to confuse things.
Thanks- An excellent post Toro, showing great awareness of the bigger picture. The drilling has to be carefully targeted and I like the methodical and well planned approach by IronRidge. The very fact that they’re going for a bigger JORC by end of year tells me it will be worth waiting for. The Cape Coast Project really is worth looking at in detail. These shares are on offer right now so I’ll continue to accumulate where I can.
Optionality, a great move by IronRidge. Well done Vince, Acquisition of Marlin Minerals, Booster Minerals and CAPRI Metals - Gold Projects, Côte d’Ivoire - Issue of Equity at Premium to Market.
Are you referring to me Munchbox or Toro or Farq or is it Bozi and others? The SP will find support and bounce. The newsflow will come when it’s ready. Accumulation is the name of the game for me right now. The hype you refer to has mostly shown a good understanding of the assets and the bigger picture around the sector, geology, exploration & financing. Your insensitive and inflammatory comments are aimed at deramping. If you’re not invested then stay on the CNR board.
SharketMare Wrt to Chad - Victor has explained the horizontal channel sampling at 2m intervals for 15km (effectively it is horizontal drilling). Our main asset is Dorothe and many companies would focus on one main vein only but IronRidge have many veins to concentrate on. This is why Len has made reference to the Alaskan/Yukon gold belt. The main vein and the sheeted veins are mineralised throughout the 3km x 1km (see the schematic cross section in the RNS) and Len has made reference to POGO and a 10mOz and a similar scale, with good reason. Multiple targets have been defined following the identification of artisanal workings. Guerere, Kalaka & Nabagay also have sheeted veins and the 40km strike has been secured. Len has stated ‘There is big exploration upside in Chad’ The scale in Chad is impressive and they’re progressing on different fronts. The staffing structure at IronRidge has been updated recently and new key positions and staff appointed & in position. Victor Kakebeeke was instrumental in the gold discoveries in Chad as Chief geologist for Tekton and I feel his attendance at the Shareholder event in London was significant. IRR have secured 900km2 tenure in the Saharan Metacraton (which is vast) and have significant first mover advantage in underdeveloped & underexplored Chad. I am now more aware of the regional geology of the cratons and their significance. It’s worth looking at the Sarahan Gold area and Precambrian formations identified in Chad, they cover the Ouaddi region in the east. IronRidge has been ahead of the majors who are also now looking at the same Chad craton that I think borders with Sudan craton in Sudan (geopoliticallly sensitive right now). So I expect the majors to also be looking at making moves in Chad in coming months dependent on the situation in Sudan. Chad and Sudan are some of the last undiscovered Gold areas across Africa. So how did Chad come about? Dorothe in Chad was first identified by the UN in the 1990s. The Tekton team came across the artisanal workings at Dorothe. As stated before, many companies would focus on just one vein but IRR have many sleeted veins to concentrate on so it will take time. This is undoubtedly a rare opportunity and if it takes a little longer to piece it together then so be it. 3km x 1km and the implications of that are enough for me. Chad is still a priority, it just seems that Zaranou is also one now. IRR have the team in place to advance them and cash burn will be slower than people expect. All of this is just my opinion, apart from the bits I’ve picked up at events along the way.
Good post Bozi, It’s all about the optionality that the BoD now have following the EGM.
Oh for a fair debate and all that it would entail Munchbox. I first looked at CNR in March 2018 at Master Investors and have researched the company further, as well as looking at Nicaragua and the broader picture. The current position around Gold looks very promising but how will CNR maximise its potential in coming months. At Master Investor Mark Child was very helpful & Jim Mellon even gave it a mention in his prentation in the Gallery Suite. At the time the SP was around 45p (42p the Monday after MI). However, it would be interesting to know where CNR was placed on the Summary of Stock Ideas at the time. There seems to be a selection of well informed posters here, some of whom have been caught in the downturn but are patient. Gold is on the up but will CNR take advantage in the upturn? Ross Beaty is a good sign for me and I’m very aware of Jim Mellon’s Involvement in this share and others like FFWD and Juvenscence. Still ticking off my criteria but a fair debate would be interesting Munchbox.
Earthling, I understand your comments and the IronRidge PF is extensive but the priorities are clear and presenting themselves. The Lithium projects keep on expanding as new opportunities present themselves, as seen at Ewoyaa West. Getting the licences, exploration permits and drilling permission does seem to take time but bureaucracy in Africa can be very frustrating, although some countries and jurisdictions are better than others & Ghana seems to be one of the best. Read the SP Angel research note, there are some great numbers in there and it’s undercooked imo. The resource will end up considerably bigger than 12-15Mt imo. Great bring it on. I have to agree with Bozi, on accumulating as we go and i’ll Continue to do so. Farq’s observation too, I just keep on picking up the £1 coins. IronRidge would be a strong investment just on the Lithium alone but add in the Gold and it’s compelling imo. We are still waiting for the licence for Egyasimanku Hill, which is running on but don’t underestimate the way IronRidge has positioned itself throughout Ghana, built up a brand and has built the foundations. Drilling takes time and is challenging but most of all has to be targeted in the right areas. The Gold at Zaranou looks like it was just too good to be ignored so I now see that as a top priority alongside the Cape Coast Lithium and Gold at Dorothe & surrounding licences in Chad which are going to be operational together imo. (Although we are due an update on Chad and how an open pit will emerge in time). (Interested in other views on these priorities) The other assets in Gabon and Australia I’m not focussed on at all, although I’m sure they’d be interest in the Bauxite, Tantalite and Nickel. Iron Ore prices are high but I don’t think will be sustained. As Kirill Klip says ‘There are a thousand and one Lithium companies & not everyone will make it’ IRR has a definite Lithium project, the question is, how big is that project. I can wait to find out. This is not your usual aim stock. Priorities imo: 1- Cape Coast 2- Dorothe et al 3- Zaranou 4-CDI pipeline
Swest42 - I think the focus should be on the Cape Coast Lithium and the gold in Chad and now Zaranou in CDI too. The Lithium resource is shaping up to be globally significant imo and should be the priority. However, IronRidge have the people and structures in place to progress the gold at the same time. Iron Ore prices are certainly on the up but whether it will be sustained is debatable whereas the Lithium demand curve is staggering (x9 by 2025). Capex considerations push the Fe down the list of priorities imo. No sense of humour needed here, just an understanding of the geology, the numbers being returned & the bigger vision around the Lithium and battery space.
Very astute Toro. Zaranou is nearly ready to advance imo. That’s what I’d like to know more about. Stepping on toes is right in fact I think IronRidge will have ****ed off a few majors nearby. Always a good sign. Who took their eye off the ball though? It matters not and by the artisanal working it looks shall we say interesting. What will the operational synergy be though? Those seem to be the buzz words around at the moment.
It’s time to research this one properly. Mark Child was at 121 in November and I think at Master Investors. That wouldn’t surprise me with Jim Mellon owning 10.5% of the stock. Gold in Nicaragua. I’ve got a presentation booklet from last year, let’s look at the progression. Farquar, the CEO is Mark Child from 2011 but Jim has 7.5m shares of the 75million ish that are available. The chart is interesting, especially if you track back that downward trend 2 yrs. Lots to consider. Some sound LTH here who are waiting patiently and then there are those that attack other shares. I’ll look at the information available and carry out my own research before making further comment. GLTA