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Am I on the wrong board? Wtf has happened? It’s quiet here for days and then I thought it was hacked. Swest- To answer your question wrt to finance. I’m not worried, the recent RNS with Interim Financial Report showed that they’re doing well with the cash burn and I know that they try to get best value. The company had a very small staffing structure for a short while but had clear plans in place to expand that and the appointments of Moctar and Iwan have been carefully planned. Airborne surveillance isnt cheap but is proving to be an excellent model for exploration imo. To be honest I’m really impressed with the progress but have a few questions for next week. The raise in November was to push on ahead and to be honest raising the money they did at the time was very impressive and I know other CEO who thought so and brokers were surprised and impressed. So why did family and friends stump up the money? This is not ramp board, I agree Toro and Farq. We’ve been here too long & have discussed the ups and downs, it’s 3 yrs into a 5 yr project for me. We’ve certainly done the research and joined the dots as the foundations have been put in place. Munchbox ? Really? Each to their own but have you done the DD. Ghana & CDI for starters and then Chad. 3 in 3 in 3 is truly impressive in this climate. Many juniors are struggling to fund exploration and many majors haven’t done the exploration needed. There’s a disconnect and there will be a scramble. IronRidge is in a strong position and the strategic thinking is good. The research and info on the Lithium in Ghana is there, I’m happy to wait for what I expect to be a globally significant resource. CDI, the pipeline has just produced one imo, the new gold resource looks hot to me so I’m keen to hear more about it. Chad is full of operational synergy but further away from a port and established logistics. But Dorothe and friends are set to surprise us imo. I might be wrong but this board let’s see how things go next week. Why not attend the Shareholder meeting and listen to Vince and Len? My prediction is that once people have met VM & LM, heard the talk and had the opportunity to Q&A, then there will be an uplift as more upside becomes apparent. Ask yourself this, why now?
Good point Mike. I’m travelling to attend the Shareholder Update and Presentation evening next week. I think the timing from IronRidge is really good and if people can make it it’s a great opportunity to hear things first hand. I too hope it is well attended but understand not everyone is able to rearrange their diary. As it stands I’m aware of eleven people who’ve said they’re attending just from the IRR room and what I’ve observed on LSE. Not everyone has had a confirmation email from yellowjersey though. Obviously there will be considerably more prospective investors from different sources.
Well that tweet from Chad has got me thinking again. Awaiting up update on Chad & looking forward to the Q&A on so many levels. Only one more week and April 2nd will be here quickly. The words operational synergies are still in my head. I’m not sure if I’m reading this right but are we about to get glaring wrt a road map going forward over the next few years. Ghana and CDI are mouthwatering. I had a good chat with a geologist the other day who was talking about how Ghana has improved since the coastal highway was built. They said getting about was harder. Also that getting to Takoradi is so much easier and logistics are good. Vince is always strong to point out the excellent access IRR assets have to power, road & port. The other observation I heard the other day was O&G money going into EV. Still drilling and O&G still needed but that the industry is making moves, Ghana specific. I’m also aware of of a UK based engineer who was at Cape Town Indaba and getting lots of Ghana related interest on infrastructure projects. ‘Ghana is the place to be’ Now who said that?
2nd April, 6.00pm London, America Square, Croswall Street EC3N 2LB Shareholder update meeting & presentation followed by Q&A with Vince Mascolo & Len Kolff. What a great opportunity this is to raise any concerns you have or just to clarify your understanding on aspects of the developing projects or even just say well done. I can tell you that both Vince and Len are very approachable and open to questions. If you haven’t met them before then the chance to hear everything first hand is one to take advantage of. I will be attending & look forward to meeting up with some of you again. A lot has happened since November and I’m particularly looking forward to an update on Ivory Coast and the new Gold acquisition there as well as the Ghana Lithium project(s). This isn’t your average AIM company and that’s what attracted me in the first place. The corporate backing always stood out and seeing Assore making a field visit to Ghana recently certainly raised levels of interest & excitement. Hats off to Toro for joining the pieces together so quickly. Are we about to go into a new phase in April? I suspect so and have my own ideas on why which I’m looking forward to discussing with those at the shareholder evening. I will feed back as I’m sure others will too for those unable to make it. Collectively we’ll have a good understanding of the rest of the year.
A good little video from Vince and Len with Mining Review. They packed a fair bit into that slot. Well done to them. It’s on Twitter and YouTube if you haven’t seen it yet.
Good post Toro. Understanding the progress and how the bigger picture will emerge seems to be the problem, not that there is no progress. Imo, a steadyily emerging picture in Chad is to be quite frank, really exciting. If people can’t see what’s been happening then so be it. Tough. I’d like to be in a room when someone said to Vince and Len there’d been no progress. There were 4 updates on Chad in 2018. A quick review of releases shows you what’s coming. Kalaka and Guerere and the integrated logistics around operational synergies still apply. Even more so with Dorothe and Nabagay. Look at the slide of Vince presenting at 121 and which one was released. I’d refer people back to the interviews with Andrew Scott in November and the recent interview from Cape Town. Tekton Toro, agreed. Keep building guys. 3km x 1km & comparative references. Leeds, 👍++
On the money Bozi and I like the way you’ve summarised it. The land grab part is right too. Peg the land and connect licences where possible. I think the majors are now ****ed off because they haven’t been doing the exploration but leaving it to the juniors and then snapping them up. However, normal rules don’t apply to IronRidge and there in lies the beauty of the whole setup, right back to December 2014 because theyhaveSumitomo, DGR and Assore behind them. Let them come and let them pay.
Imo Nick Mather is heavily focused on SOLG at the moment and rightly so as that is developing into a country maker, let alone company making project in Ecuador. Wrt to yesterday’s RNS, I believe it was simply a too good as an opportunity to turn down. Drill ready in a proven area on the Brimian Greenstone Belt. The focus is firmly on the Lithium and Gold in Ghana and Chad but the Pipeline as Vince referred to it is in Côte d’Ivoire and it’s a rich pipeline in my opinion. With Zaranou it feels like they’ve jumped the queue and sneaked in there, so somebody has got their ear to the ground and done a good job. The JV part referred to payment in shares as a possibility, like they did with Tekton. I’m happy with the current strategy in West Africa and if it means a review of other assets elsewhere and letting some go then I’d be ok with that too. The company making projects are in West Africa right now. 3 discoveries in 3 jurisdictions in 3 years. I believe we won’t be diluted in the way expressed below. In November Vince and IRR managed to raise £5.4m in a very challenging market through friends and family plus corporate. I’m sure he doesn’t want to see his friends and family not to mention himself diluted either. It was raised purely to keep the pace up and press ahead & look what’s happening on the ground. Assore & Sumitomo continue to have a strong input at BoD level and it was interesting to see the recent tweets from Len and and the IRR account showing Assore key staff and geologists in the field in Ghana. I’ve got clear views why I think they were there but I’ll keep those to myself for now. Indaba was a big success and the Ghana pavilion very well received with a strong government presence. Vince and IronRidge are well placed for the next phase. Keep going Len and prove it up. As Farq says ‘you build it and they will come’ End of Q1 or Q2 it matters not to me but I would like a few more before it gets away again. This is a rare opportunity on AIM
That’s a great RNS imo. It’s like positioning pieces strategically in Chess. Andrew Scott asked Vince in November about future acquisitions, to which he replied we’re always looking but it would have to be good. Well Zaranou looks good to me and they’ve probably done well to get in there ahead of others. When Len talked about investing in the aeromagnetics well over a year ago and using them to identify new target areas it sounded really good but just look how things have developed. Find the localised artisanal workings and follow up with geophysics and aeromagnetics. I’m not worried about funding. This was a great opportunity that they felt they couldn’t pass on. The pipeline is there for the future. Ghana is making good progress and Indaba19 in Cape Town showed IronRidge in a good light and being well connected. Look at the footage and photos, they provide a powerful montage imo. My biggest concern previously was that they might be running light but each jurisdiction is covered now. The staffing structure is in place and there’s a plan for Ghana, Chad & Côte d’Ivoire.
I also like ANW with their Tin and Cobalt plays. When I’ve funds I’ll buy in via the ASX. I already hold some Aussie based stocks. It was all about NM. But now I’m totally behind VM & LK. The DGR business model is very strong.
Vincent Mascolo is presenting for IronRidge on Monday 4th Feb @ 4.10pm at 121 Mining. The President of the Republic of Ghana is doing the Keynote Speech at Mining Indaba, Cape Town on Tuesday 5th Feb @ 9.05am Watch this space, imo.
LIBS analysis is strong Toro. It was a good move to introduce field based lab work for early indication. Impressive all round. A great RNS, the GeoPhys and mags are really exciting. Lots more to come.
Interesting question Farq. I’m sitting in a cafe going through VM’s recent interviews and making copious notes but Ghana stands out at the moment as the early company maker. IronRidge have done 3 in 3 in 3, amazing really. BUT to answer your question, Indaba2019 starts on Monday 4th and runs until 7th Feb. 121 Cape Town runs alongside it and people go between the two. This year the opening Keynote Speaker is the President of Ghana. Let’s think what Vince said about Ghana, ‘Ghana is spectacular’. It has a pro mining govt with a 100yr mining history and is spectacular jurisdiction wise too. VW have moved into Ghana to assemble EV & have signed an MOU with the govt and Presidential Office. It bodes well for Ghana and also for IronRidge in Ghana, within the Lithium space in the short/medium term future. Maybe we’ll get news on Ghana next week, it would be perfect timing. I hope that helps. Hfox1 Go to Mining Infaba website https://www.miningindaba.com/ehome/index.php?eventid=283869&
Where’s the tick or lightbulb to credit the analysis. On Hot Copper I’d give that post a lightbulb. Spot on.
Hi SW, I’m still here and as strong as ever. It’s a fair question about the drift in SP but I think it’s hard to pinpoint one specific point. Imo it has been considerably oversold and although there were one or two bigger sellers I suspect a fair few AIM players went chasing rainbows. IronRidge is not your usual AIM company. As Vince says most companies run with just one gold vein but IRR have 9 of those and that’s just at Dorothe. The scale on offfer here is unbelievable but you have to read through a lot of data and reports across a lot of licences. Basically it’s an emerging major imo. There were a couple of pieces of news like Nick Mather selling a chunk and the placing at 20p before Christmas. I view things differently and think Vince did a great job to secure £5.4m in the current market. I spoke to a few other CEO at 121 London and they were impressed that Vince had managed to get that much. Then look at who put the money in. Sumitomo, Assore, family and friends. (Listen to Vince with Andrew Scott 27/11/18, talk about how seriously he takes making money for those invested in IRR) People are very supportive, The Tekton team took shares, WHY? Imo I don’t think the average AIM investor looks long enough at the detail (bwtfdik) all the information is there for people to join together. The wider market sentiment wrt Lithium has taken a hit since early 2018 but I think the mood has now changed. There are still big deals coming through. IRR have a very significant Lithium deposit with excellent logistics to export out from Takoradi Port. (Dig it up, load and transport down the bitumen road to port). For me the fundamentals are there, the TA I’ll leave to others because they’re better than me. I’m in no doubt about where this is going and that’s why I’m only focused on four companies in exploration. IRR, SOLG, LKE & DHR. (PXOG I’ve given up until I learn more, I’ve actually arranged to have coffe with an O&G Geologist to help my understanding). The scale of Ghana and Chad are no brainers. Beyond that I think people just get bored and twitchy. They have to buy and sell to feel busy. The hardest thing is just the wait. I think I’m aware of one big holder who sold a chunk to chase elsewhere. If he does well, I’m sure he’ll be back and buying big again. I don’t think that goes well for most people though. If ever you get the chance to meet Vince, Len or any of the team then grasp it. They’re very approachable and very good at explaining things. The foundations are set and it’s going to be a hell of a building.
How much do we know about Takoradi and it’s strategic significance. I’ve been looking into comments made by Vince about excellent infrastructure in Ghana. His ‘you can’t get better than that’ is interesting, exciting and accurate imo. More on this next week. My video on Ghana with Vince’s interview is now on twitter. Enjoy & have a good weekend all.
I’ve been amazed to look at the infrastructure and follow up on what Vince said about getting to the deep harbour port via the good bitumen road. I love the way he refers to the power supply 2km from assets. As Vince clearly says ‘You don’t get better than that’ The Hill is the business Toro. In 1962 they only drilled to 30m so when Len marches the diamond and RC drilling rigs up the hill I’m expecting him to go much deeper. 100m+ how big is that BIg PEGMATITE?
I’ve got all the charts, data and volume from that time. I’ve also spent the afternoon going through everything on Egyasimanku Hill and Lithium projects in Ghana. At the same time I’m freeze framing Vince’s interviews and matching things. This is likely to get to new highs soon followed by a retrace before pushing on again for EoY. It just depends where the Sp is when the Ghana Lithium news comes out. Vince says End of Q1 or start of Q2 so March April imo. Grab what you can until then. Then there’s Chad.
I’ve just tweeted some archived IRR charts showing the rise from 15p to 48.5p with resistance at 50p. They’re from from Emergo, who was very accurate at the time. The reason I’ve posted them is because there are similar patterns emerging imo. At the same time, lots of news will be released over coming weeks and months and hopefully as you say before Indaba19. In Vince’s interview he says Len’s ready with numbers from Ghana but wants more. Let’s get the drilling completed and move to Egyasimanku Hill to complete the package. It’s a monster coming over the Hill.