Member Info for Moneymaker2015

It’s is bad because potential investors see a few sells and automatically think ‘people are selling-out here, maybe it’s not a good idea investing here after all’.

It’s been a while since I looked at the smelter facility but I do remember we put down a refundable deposit around that value. I don’t ever remember reading about what happened to it after that.

Yeh the closeness to mining is the reason why I’ve had a little top-up today. Yes, there’s still an element of risk as things stand but if all the financing does get sorted by the end of Nov, it’s not going to take long at all for us to get into production. The capital is less than £10m, which could all be paid back by 2022 potentially. If everything goes to plan IRON will be a very profitable company.

Only 1 trade is being shown today and it’s a sell. However, I can say 100% it isn’t because I just had a top-up and that is my number of shares and dealing price.

I can understand when there’s huge volume being traded, but when there’s only 1 trade of low volume, something is wrong with the system if it’s getting logged wrong.

Bloody hell, what’s going on today. Just seen us near the top of the fallers list, thought some catastrophic news had been released. I don’t even want to look at my trading account today!

8 years in IRON, wow! I’ve been here about 3-4 years and that feels like an eternity of nothingness so far.

All credit to Martin Eales, this was doing absolutely nothing until he came on board. As much as I don’t like the idea of dilution. We’ll still have a relatively low number of shares in issue compared to many mining producers. Plus, if think IIG may be in it for the long haul, meaning the additional shares won’t necessarily be flooding the market and restricting the share price.

I’d forgotten about the Middleberg smelter. Obviously the preference would be a 15MW facility long term, but having 7.5MW already up and running would speed things along as you say. Exciting times ahead here finally.

The deadline itself is 30th November. It’s just the circular for the general meeting that is expected to be published in October. Considering shareholders haven’t seen any value or progress for a number of years now, it’s almost certain that they’ll be voting in favour of the proposals, to finally get our project off the ground.

The only thing I’m curious about is what’s going to happen to the share price. I originally thought it would re-rate upwards, but now I’m conscious that number of shares in issue is going to double, with this new additional 50% being issue at 0.42p. Usually when something like that happens, the share price would naturally fall to around 0.42p. However, as it’s good news in terms of progress, the share price is also going to go upwards. The 30th November is going to be an interesting day.

I don’t know if I’d say Lesego don’t have the clout considering;

1. They’re the only company so far that we officially know are interested in purchasing MT.
2. They’re currently running a PGM mine that is near 4x the size of MT (flanks included).

I think it’s a fair assessment that they do have some clout.

Going to start a little conspiracy here that may not be far off the mark;

When Mr Nieuwenhuys was the CEO of Lesego he was tasked to head down to MT to carry out due diligence, should Lesego wish to proceed with an M&A.

In Oct 2019 EUA first mention having involvement with CITIC, for the assistance of getting a potential buyer to the table

In Nov James Nieuwenhuys is then appointed to the EUA board in, whilst remaining as the CEO of Lesego.

EUA then confirm they’re working CITIC Merchant, the M&A advisory department of CITIC.

James then relinquishes his role as CEO of Lesego and is subsequently taken-over by Jeff Dong, a former M&A advisor for CITIC himself.

Rather than just trying to find a potential buyer, is an arm of CITIC, i.e. CITIC Metal, one of the potential buyers I wonder..? It’s a big coincidence if not, that all the parties are very closely related.

I don’t see CITIC Metal taking over completely as it’s not their usual method, but I could definitely see them purchasing 50% or even more, as that’s what they do.

There’s no set timescale, but on average they tend to take 3-6 months. It’s been 2 1/2 months already. The announcement this morning shows concluding the sale is EUA’s top priority now, although does indicate there’s still work to be done, so I doubt anything will be concluded in the next few weeks.

I’ve always thought just before Christmas myself and still believe the same.

Good watch that was.

You can tell both Collin and Charles seem excited about the 2 mines we have in Korea. The other chap that came on discussing the Governments position in the Philippines sounded confident that Govt is taking a U-turn on it’s mining stance in order to boost their economy. Maybe this time next year something might be going on at Batangas.

I watching an interview yesterday from last month with Southern Gold. Sound like the reason they’re selling-up revolves around the programming and timing that BMV put forward, so rather than hold things up, they’re selling-up to focus on their other projects.

https://www.proactiveinvestors.co.uk/companies/news/925897/southern-gold-s-simon-mitchell-discusses-value-realisation-plans-for-gubong-and-kochang-projects-925897.html

Provided we gain the funding to the amount that the independent advisor recommends, it’s sounds like it will almost definitely be coming our way.

Haha, just seen your post on OPG. Funny thing is I’d noticed your name pop-up quite a bit but hadn’t realised it was on different boards. Out of the three I think BMN and OPG are low risk but have good potential, although I think they’ll both be a fair few years until we see really high share prices. I only ever look on the OPG board now when I see us it in the risers list, incase something has happened.

BMV on the other hand, yes slightly higher risk, but if we can get SAU’s 50% and somehow avoid dilution, this share would be an absolute goldmine! No pun intended. The low costs and future potential revenues means we’re likely to receive some decent size dividends. We should hopefully know this side of xmas too.

I might have to look into what other shares you’re in lol

Operationally this is by far the best thing to do considering each of their strengths. Looks like it is full steam ahead now with the sale.

Spevy, whilst a lot of LTH’s like myself have probably top sliced since the suspension was lifted, it’s moreso the LTH’s that are preventing this from slipping faster. Many of us have hundreds of thousands or even millions of shares, which we’re holding on to until news on the FSP is released. If the LTH’s started selling-up this would plummet. However, we all know how valuable the assets are, which is why we bought-in so early in the game and is why we’re still holding on now.

A lot of people get caught out by the blue and red too. They’ll see a stream of blue and wonder why the sp hasn’t risen. It’s only when you look at the times and differences in shares, that you can tell straight away a lot of the blues aren’t buys and the reds aren’t sells.

I am a little surprised today tbh. So many people on here have been talking the an announcement or update might be provided tomorrow about the FSP. Whilst I personally don’t think we’ll hear anything, I thought a lot might have put some extra money here today, just incase.

To be fair to PartyPooper, he does make a valid point. Considering 95% of the people here had no interest in EUA when the flanks application was announced as we still remained at 0.5p, but then everyone jumped on the band wagon when a potential sale was announced. An announcement that no offers have been received isn’t likely to go down well.

However, with interest from other parties first being mentioned probably over 18 months ago now and the Citic announcement being 11 months ago, it’s very unlikely that no offers will be received. Plus, on the slim chance of no offers coming-in, I’m sure will BoD will mention the triggering of the Sinosteel funding swiftly after, which would give the share price momentum.

On a different note. What’s the likelihood we’re going to see a big increase in buying over the next 2 days, as people scramble to get last minute shares incase something is mentioned at the AGM. Should be an interesting couple of days of trading.

Having no JORC is the one thing I’ve always been wary about here, but the Aidan is very heavily invested and the others seem adamant that both mins can produce over 100k oz, so that has put me at ease a fair bit.

I don’t tend to trade much myself. Only because there’s been a couple of times I’ve sold out when a share has risen off the back of nothing, then it’s continued rising for no reason whatsoever. Once you’ve sold, it’s difficult to bring yourself to buy back in at a higher price. BMV right now is a prime example. Past experience would tell you this will likely drop back to 4p before we hear anymore news. If it doesn’t drop though, you’re either buying back in at a higher price or missing out completely.

I know what you mean, this board is very quiet compared to every other share I’m in. The bright side is that it isn’t full of people ramping and/or de-ramping and only bringing to the table ‘this is going to plummet to 1p’ or ‘10p tomorrow, buy-in quick’.

The volumes picked-up but there’s been some big sells today. Don’t get me wrong, profit is profit in the end of the day, but I thought most holders would want to sit tight for a couples of months considering we’re on the cusp of gaining 100% of the assets.

The good thing is there’s timescales mentioned. Orignanlly, I was expecting us to put an offer in, it would get knocked back, SAU would then go out to the market for 6 months for other offers, then we’d have ‘x’ amount of time to match an offer. Now, it’s sounding like there’s a very max of 90 days and all we have to do is be able to fund 90% of the Independent Experts valuation. We could all be having a very merry Xmas if things go to plan.

Having been in the rise of EUA from 0.45p to 20p, I definitely won’t be selling a penny here anytime soon. I’d never knock anyone for making profits, no matter how small, but is it really worth accepting maybe 100% rise now when you could potentially receive 1000% or significantly more in a few years time. It can go up quick too. I got in UFO around 0.1p a few months ago, now it’s sitting at 0.8p.

Southern Gold provided an update today also. Here’s the last paragraph:

‘Without a price being agreed, there is now a clear process under the JV agreements for the appointment of an Expert to make a determination of price for the two JV interests. Both parties, Southern Gold and BMV, are legally bound to accept the price determination of the Expert. The Expert has 30 days, from the date of their appointment, to make the determination. The sale and purchase of the Southern Gold JV interests must then be completed within 60 days of the determination’.

Looks like we have a max wait of 90 days in total (13 December 2020) and then we could be the 100% owner of a future 100,000oz per annum set of assets. Not bad considering our mcap is only £16m.

Very interesting update. If I’m reading it right, it sounds like we are only obliged to pay 90% of the value that the Independent Expert values the mine at and they are bound to accept it.

I thought they were able to go elsewhere for offers but it sounds as though that isn’t an option? Unless obviously we can’t stump up the 90% presumably.

Sounds like a very good update overall. I never suspected for a second that SAU were going to accept our offer anyway.