Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It’s good when the research comes good though isn’t. Look at LKE today doing 53% with multiples to go. Same research says Zaranou, Ewoyaa & Dorothe will deliver. You should meet the directors. Have you met the CEO at CNR? I’ll meet them at the next event. I’m not invested there but have been looking. I wonder what I’ll make of it?
The Lithium in Ghana is on course and it’s just a wait to let it happen. Meanwhile Zaranou’s DD was extended until end of June. So while we wait I reminded myself of why it’s an exciting prospect and that IronRidge pipped others to get there first. HIGHLIGHTS:  Access rights secured via Earn‐In Agreement to the Zaranou Gold Project application covering 397km2.  Over 40km strike of highly prospective shear zone structure, multiple recorded gold occurrences and coincident large‐scale artisanal workings throughout the application area with eight (8) high priority targets already identified.  High‐priority target areas of hard‐rock artisanal workings observed in multiple pits over a 1.6km strike length with individual artisanal pits between 60m to 120m wide.  Characteristic response for hard‐rock artisanal mining zone evident in regional aeromagnetics data with at least eight (8) additional high‐priority targets identified over a 40km strike length.  Artisanal mining zones and additional geophysical anomalies identified are interpreted as repeated en‐echelon structures; typically associated with favourable settings for gold deposits.  Reports of historical mining activity during the 1930’s at the Yosso occurrence with quartz vein zones between 2m to 60m thick, and over 300m in length with evidence of gold mineralisation extending 10m into pyritic schists either side of the veins and averaging 1.5g/t to 12g/t Au.  Historical results returned during the late 1990’s and 2008 include a best result of 2.2g/t over 21 meters (including 5.7 g/t over 5 meters) in a limited rotary air blast (“RAB”) drilling program.  Conditional acquisition complements and enhances Company’s existing portfolio for a combined total 3,584km2 gold focussed land package over highly prospective geology.  Application is within close proximity to an existing gold and lithium portfolio, providing operational synergies.  Good access via extensive bitumen and laterite road networks; 200km via bitumen and 30km via laterite road from Abidjan to northernmost extent of license area.  Ivory Coast represents an underexplored and highly prospective gold rich terrain within the prolific West African Birimian Greenstone sequence, with a diversified economy and pro‐ mining investment framework. Have a good weekend all. The quiet before the news. Imo there are another .... to come.
Average news?????? When did you last see the word Exceptional in an RNS? Just imagine trying to get that past the NOMAD. The Nomad was at the shareholder evening, which was excellent by the way and oversees things. The SP Angel research report was very good but played things down a bit and undercooked it imo. I understand why because they need the numbers from a Maiden Resource but it was clear that the potential upside is there. The average news this week was bloody good imo. I was with a broker on Tuesday who was very interested. Look who tweeted yesterday about the metallurgical results. The next steps highlighted in the RNS show what’s coming with regard to operational synergies. The Radiometrics and the opening up of new targets in Ewoyaa West are very exciting. 700m west of Ewoyaa. The news recently hasn’t been average it been really good. The word frequently used this week in London by international analysts was disconnect. IronRidge is undervalued imo & a disconnect exists. The geology and the logistics tell me that. The White Gold of the Cape Coast must have impressed NAGPROM. Who else will have been impressed? Under 100km to Takoradi and that deep water port. I agree Toro. The markets are finding it difficult to value IRR or understand the bigger picture., Keep piecing things together. Acquisition target or through to production? There are arguments for both.
Ewoyaa, Exceptional metallurgical results. Very impressive progress from first acquisition of licences and permits in Ghana. The background story here is compelling as is the case for project development. Loved the Radiometrics and geophys. Pieces together well by Vince, Len and team. Ewoyaa West and more to come. Below is copied from the RNS: Next Steps: The Company is planning follow-up metallurgical test-work on larger 20kg to 50kg composites from material already held at NAGROM Laboratories from the diamond drill programme. Test-work will include larger scale Dense Media Separation (‘DMS’) test-work including DMS100 cyclone gravity beneficiation on larger P1 coarse and P2 fine composites derived from across the deposit footprint. Further work will aim to optimise the gravity recovery by lowering the grade whilst still maintaining a 6% Li2O concentrate grade, but also increasing the concentrate tonnage. Further work will aim to optimise flotation to maximise recoveries for a 6% concentrate grade in the P2 fine pegmatite gravity circuit ‘rejects’ for future mine studies. Field teams are advancing the Ewoyaa West target where pitting and trenching has defined pegmatites over a 700m strike and up to 100m width at surface, approximately 700m west of the main Ewoyaa deposit.
http://sayonamining.com.au/wp/wp-content/uploads/2019/05/The-lithium-industry-needs-a-17b-injec...mand-here-come-the-deals-Stockhead.pdf Joe Lowry, as frank as ever; “There will not be any significant lithium chemical oversupply anytime soon. While there have been many optimistic supply forecasts, recent results speak for themselves.” Looking forward to hearing more about this next week. #Lithium @globallithium
I appeared today because I responded to Len’s tweet. I hadn’t seen today’s SP until someone mentioned SOLG elsewhere (which I’m also invested in) being up. I was out for most of the morning and don’t follow the SP daily as I’m not trading in the short term. I do have several trading accounts but mostly buy on ASX & AIM. My post was about Ewoyaa West and the Radiometrics which I’ve been going through for a while. Len tweeted which made me post today. At the moment I’m dealing with solicitors and a complex sale of a flat with various legal issues so haven’t got much time. As for keeping hopes up. There is no need. IRR will do it’s thing. If it drops I’ll but more. Your motivation is unclear. Are you deramping for a lower entry point? Why are you posting on a board you’re not invested in? Or are you just attention seeking? A wind up merchant? Why did you invest in the first place? You accuse others but your behaviour is
The drilling will take time but those words ‘multiple targets’ do make you wonder how big the resource will be. I’m happy to say globally significant but just where it will fit with the Lithium hard rock resources in the Pilbara, I’m not sure. (The majors will be aware of IronRidge though). The SP Angel research note couldn’t put true value on the Lithium without the numbers. That’s fair enough and I understand that. But as an AIM investor look at the disconnect between the current SP and EoY 2019 SP, let alone as operational synergy emerges and a post JORC resource is on the table, then ask what will the SP be? And that’s just the Lithium in Ghana folks.
Ewoyaa West. The Radiometrics are why I would be investing if I wasn’t already. Ewoyaa is very good and Abonko grades better. Together they’re a viable operation as stated by Vince and Len, especially with logistics or ‘Power, Road & Port’ @ Takoradi. Toro, your resource comparison in Africa shows the scale really well and how much is still to explore. Ewoyaa West wasn’t even named but look where it is and the Radiometrics imagery, pinpoint Abonko on there to compare. Multiple targets identified, imo it dwarfs Ewoyaa. Len’s tweet today of the pits they’ve dug at Ewoyaa West are interesting because pits come before drilling. They’re after the pegmatite. The way they pegged the land is impressive. The next phase will show why,
This news last night was very interesting. They’ve moved quickly and the takeover should make people take a good look at the Cape Coast Lithium Project that IronRidge have. Lots to compare between KDR and IRR. Wesfarmers launches $776m takeover bid for lithium miner Kidman Resources $KDR ‘Wesfarmers has proposed to acquire 100% stake by paying A$1.90 per share in cash for Australian firm Kidman. Kidman currently owns 50% interest in the Mt Holland lithium project located in Western Australia. The project includes the construction of a mine and co-located concentrator at Mt Holland, and a lithium hydroxide refinery in Kwinana. Lithium hydroxide is key to the electric vehicle value chain’.
Some good posts to read through there. I’m trying to catch up but agree with N2S on company makers. I actually think there are 3 company makers. I’ll leave you guys to work out where. Dorothe is a real beauty though. Others companies would be happy to work off just one of those sheeted veins but the reason Chad is taking time is because there are 9 veins I believe, I’ll have to look back at it. So much to prove up. The scale of Chad has been apparent to me since Len said he was excavating long trenches 8km+ (unprecedented on that scale bar a Russian mine) The reference to the superpit should make People’s ears prick up alone and that was 1km x 1.5km (how big is Dorothe again?). Imo, Toro is correct in saying that Zaranou might dwarf the above mentioned. Think about it. Which majors were after Zaranou and why? Yesterday’s RNS was important but people can’t see why. A few sells drops the SP. Once people work out the numbers then it will turn on the three company making projects. Now is the time to acquire here. As Toro said about the amount of investment from Vince on a personal and family level, it’s a big percentage compared with other AIM companies. I’m backing that commitment. Oh yes, next Wednesday is May 1st. When do you think the licences for Egyasimanku Hill will be approved. I think within the next 3/4 weeks. Get the drills ready. Now I’m going back to my gin and tonic and twisting by the pool after a dip in the sea.
Nice one Mike. Interesting tweet from Len today. The deep water Takoradi port and harbour is a real gem in the logistics package for Ghana. The size of vessel is increasing too. It’s very accessible down the highway and an easy location for shipping. All good news for IronRidge.
Those quotes are obviously just a sample but it does illustrate why things take time. They keep on finding new targets. ‘To the West of Ewoyaa’ Look at the geology, look what the Radiometrics, Geophys and the GPR are turning up and then see why people are excited. That’s all before I mention Egyasimanku Hill.
Lol. You sound stressed and need to go and do something else. I spent yesterday reading back through all the Ghanaian RNS through from 2018 to most recent on March 5th 2019 (I’ve put them in a single tweet if people want easy access). Anyway, it very interesting reading just plotting the progression through and seeing the grades as they’ve come in. Look at Ewoyaa and Abonko and then work out the synergy between the two and why ask yourself Assore BoD members and specialists have been there recently. The RNS are very detailed and I swear people don’t read them through. Vince and Len do pack the information in. A quiet spell at our end with little trading and no news usually means it’s very busy at the other end in the field. Which in turn will lead to a news rich period shortly. The RNS indicate what’s coming next with regard to Cape Coast. “Deliverables from the recent Saltpond helicopter high-resolution magnetics and radiometrics survey were received; completing the geophysical data set along the Barari-Saltpond pegmatite trend. Interpretation of the combined geophysical and lithium in soil LIBS geochemistry survey (refer RNS of 17 April 2018) is underway with new coincident target areas evident in the data sets” “Regional Exploration Ongoing: Regional exploration pitting has continued concurrent with the drilling programme. Pitting has focussed around the Ewoyaa pegmatite footprint as a high priority zone to discover additional satellite spodumene pegmatites. Pitting remains ongoing and infill pitting is underway to better define the newly discovered pegmatite targets. Three high-priority pegmatite targets have been discovered 200m to 500m west of Ewoyaa with the highest priority pegmatite target covering a 500m x 100m area.” “through weathered cover to define new pegmatite targets as well as better define dips of pegmatite targets defined in pitting prior to drill testing. The trial has proved successful in that GPR can be used to map depth of weathering over the Ewoyaa deposit to assist in geological modelling, as well as defining direct geophysical ‘reflector’ targets which may represent pegmatites to depths up to 30m below surface in some instances” “Metallurgical sampling of the completed diamond drill holes (refer RNS 31 January 2019) has been completed and 427kg of diamond drill core currently being air freighted to Nagrom laboratory in Perth, Western Australia for preliminary metallurgical test-work. Results from the initial test-work are expected in the coming months.” Patience is key while the work is being done. So I’m going for a sunshine break.
Mike, I was able to ask several questions formally on behalf of the group and I can only thank Toro, Bozi, Farq & Naim for helping me out with questions. I then got to talk to Vince, Len and Victor informally afterwards, the same as everyone else. The licences for Egyasimanku Hill was the 4th question I asked. Vince was good and said he was hoping for the end of April for drilling licences to be approved but not to hold him to it. I think realistically we have to be aware that these things are often delayed but also bare in mind the excellent foundations in place and relationships established by IRR. Even if it’s May/June they’ll be ready to start once the licences are in place and the drilling plan will have been worked out well in advance. I’m relaxed about it.
It’s really about putting the best foot forward is it not? You could ask if Leicester City did well to turn down Man City’s bids of £35 & £50m from Mahrez and then hold out for £60m. We only paid €450k for him. £50m or £60m we’re both good prices but we got top price. Those Leicester geologists made good use of Radiometrics and airborne magnetics. A partial JORC was done on Kante and he went for £35m we should have gone for the full JORC and got the £75m fair value. But there again we only paid €400k for him. Zaranou Maguire was there in front of everyone, all the top clubs were watching him play but we did the research & paid £17m much to the annoyance of the top 4 majors. Now Maguire is internationally recognised and a FEC currently valued at £75-£100million. The current business model is strong. Scouting & geology synergy. Oh and the best of the lot is EW Maddison, such raw precocious talent, now on the radar but difficult to value at this point because there’s still some coaching and development to be done. Unbelievably good & better than anything else around at the moment. Yet many haven’t even seen him play yet so don’t realise his current or potential value. Understand football & understand geology.
SharketMare, I have an answer to your question because I put a very similar question to Vince myself and he gave a very reasoned and considered reply which was appreciated by those in the room but I’m reluctant to share at this point on here. Munchbox clearly knows all the answers and doesn’t need any additional information. MB “They have been drilling / on site Ghana for god knows how long and they STILL HAVE not drilled the whole resource , instead you will get a figure of so-called this much and potential risk for that much” This is pure entertainment from MB. ‘Still haven’t drilled the whole resource’ Now I wonder why that is then? If only they had a smaller Lithium resource that was easier drill and put a value on. NO. When you have what will turn out to be the Number 1 resource in Africa it will obviously take time to drill and prove up. Especially when the methods used are turning out to be highly prospective and identifying new targets like Ewoyaa West. (MB what are your thoughts on Ewoyaa West? ) Now let’s think about Egyasimanku Hill and the technology used in the 60s & 70s on that hill drilling to 30m depth because that’s all they could manage then as opposed to what’s possible today. Egyasimanku Hill is an open Resource, they can’t start drilling because the licences are not through yet BUT expect excitement levels to rise when they do (The story about the discovery is brilliant by the way). One big piece of rock. They are moving as quickly as they can. They have installed the field lab and LIBS testing for a cost of $35k which actually saves them a lot of time and speeds up the turnaround. By doing so it’s saved them $1 Million in fees & transportation. The petulant comment from MB shows either a lack of awareness of the real picture on the ground and the logistics involved and therefore lack of research or a wish to deramp. The comment about Vince and suits is not what I’d expect of an informed investor. Having seen and met people who are possibly on a gravy train I would say that IronRidge staff from Vince down do not meet that description. Far from it. To spend 8/10 weeks away from home at a time isn’t easy and I respect the hard work, driven attitude and determination to succeed that the team put in. Mike, I know you had a question too but can’t find it. I’ve been looking at another company so switched away from here. Have a good weekend all. H
Argos have got good oven gloves. I’m working on my notes from Tuesday and putting them into my own research note. It’s amazing the little details you miss on the night but pick up later. I also love the way things triangulate. Two good interviews from Vince. I actually also love the geological indicators from Len and Victor. Some of you may ask, who is Victor? Well it’s Victor Kakebeeke, Chief Geologist from Tekton, who was also there in London the other night. Imo we are advancing on three fronts but we’ve also hedged ourselves with Zaranou. Have a great weekend all, it’s certainly been a good week.
Mike, There were about 20+ people I think. Nobody sits on the front row. It was the first time they’ve done it and they know it was quite short notice and difficult for many to attend. From what I could get it sounded like there was a fair bit of interest from people but who were unable to attend last night. It was the first time I’ve been to that sort of meeting. I’ve slways done a 121 type previously. I think they were testing the water on the format and delivery. I think it worked well though. Although they went at a pace because there was a lot to deliver. It is like 3-5 companies in One. The room was good and the access to Vince and Len afterwards worked really well. It’s a fine balance on getting the format right. I don’t think it will be the last though. For example if they did one as a fringe activity at Mines & Money you’d get lots more people but lose the access to the BoD maybe. I’m not sure when the best time would be. Maybe the PR could be better. Target people and put the word out more. How much did YJ do? I do think it works well to hear questions answered as a collective audience. There’s quite a bit of jargon around the geology and Len is great at explaining the drilling, how, where and why imo. There was discussion about a possible webinar going forward. They did know I was asking questions put by Toro and a few others as well as my own. In that way they’ve reached a bigger audience. A webinar would allow others access too but not the face to face discussion with key people. My own assessment is that they need to do all of it as things build up going forward. They now have the team in place to do so.
Hi all, Well that’s amusing reading looking back through yesterday. Some of you guys have been here a long time like me and others are new to IronRidge and some are just reading across the boards. Then there are those that seem to blow with the wind. MB The reason I missed a lot yesterday was because I travelled from South Wales to London to attend the Shareholder Update Meeting & Presentation. I’m now on my way home and trying to process everything. It’s easy to pick holes in things and chip away but one thing about this board is that we’ve always discussed negatives whether it be the Iron Ore price or Bauxite & Nickel processing, Gold & Lithium, Logistics, staffing or geopolitical issues. We’ve picked through the licences and gone through the numbers. That’s the way it should be imo. The company is assessed collectively in that way. What I like about IRR is that you can approach them with anything and you’ll get an answer. I’ve never felt like I’ve been fobbed off, unlike some other AIM companies. This isn’t your usual AIM company, it’s an undervalued hidden gem imo & I know why. So I travelled yesterday because I could and I asked questions on behalf of others. Vince and Len were really helpful and gave some really good background information too and were open in the Q&A and again for a few hours afterwards as was Victor, the Geologist overseeing Chad. Some of you on here have met Vince and Len before so don’t need me to tell you how they’re on a mission. Was it worth the time and money to get here? Very much so imo. Do I have a much better understanding of where we’re going? Yes I do. Is there a plan? Yes there’s a good plan and rightly focused on the priorities of Lithium & Gold in Ghana, CDI & Chad. All the imformation is there. I think I’m right about Zaranou, simply too good to be passed over and what about Ewoyaa West (wink) It was great to meet a few of the guys last night from here or twitter and bounce ideas and info around. I did ask Vince and Eliza if there will be other meetings like this in the future and they’re looking at it. I would say not to miss an event next time, find time somehow get there and meet the IronRidge team in person. Question the team, understand the potential and the vision. I haven’t really commented on the specifics or licences, jurisdictions or commodities because I’ve got lots of notes to go through. I’ll say thanks to Toro, Farq, Dan, Naim for additional questions, all of which Vince answered. And to Roysie & Kevin, great to meet you guys. Finally, to Vince, Len, Victor and Eliza. Many Thanks. When people have put in a lot of their own money, it speaks volumes to me. Are they’re working their socks off to get best value for us? Yes. Lots more I could say but I’ll process everything first and want to add more. Loo