Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
Can’t see it going that low, I think we will see a bounce back on spud news but then likely stagnation waiting for the drill results, people may be wondering if indico was a one off or if this is the ocean of oil we are all hoping for!
Encouraging article! I think we’ll be back on the rise this week especially with imminent spudding
I hope you’re right willec! Only time will tell
Nice to get a few more just under 17.5p. Think we will see a fair bit of buying towards close, not many will want to be out over the weekend in case of spud news Monday!
The way I’m reading that we still have a way to go to supply the full order but once we have there will likely be a further 12 months of variability testing just so they know we haven’t given them the good stuff for the sake of testing only to provide lower grade product from across the license holdings.
I’m sure this will fly either way when the results come good!
The RNS stated:
Company Update
“Ironveld plc, the owner of a High Purity Iron ("HPI"), Vanadium and Titanium project ("the Project") located on the Northern Limb of the Bushveld Complex in Limpopo Province, South Africa is pleased to provide an update on the sampling programme to the potential off-take partner announced on 26 September 2018.
The Company has now delivered sufficient tonnage to the potential off-taker for them to undertake a full kiln smelting test and expects to receive the outcome of the test in the next three weeks following which the Company anticipates that a long term off-take agreement with the off-take partner will be reached.”
All we know is we supplied enough for a full kiln test. They did say that they had shipped 1000t a little while back, I did a rough estimate in an earlier post and my calculations were that we were taking approximately 50days to ship 1000t so the total order will take in excess of a year, naturally there will be improvements along the way but I think a year Atleast is more realistic.
Where are you getting that from? I don’t think we are at 10k tons per 4months...
We have supplied enough for them to begin testing... no confirmation that we had supplied the whole 10t. If you have info that backs that up then I would be a very happy camper, that would be much better than I expected, but I remain dibious
I guess we’ll have to wait and see, hopefully the test results will reveal the kind of purity we’ve supplied and the associated price!
Quite right Steven having a look at high quality pig iron and it’s starting at around triple the value...
Which would then divide our P/E by atleast 3... looking at a single digit P/E then, now that’s attractive!
By the way if anyone spots errors in my calcs please say, Ideally I’ve missed a zero somewhere and the P/E ratio is significantly lower
Hoping for big growth here!
I was way off... just doing a brief bit of skim reading and iron ore is on the rise but still about $70 a ton
So only $700,000 for the 10t, which is like £535,000. Not as exciting as I had initially thought.
We also don’t know how much we’ve actually supplied yet, only that we’ve supplied enough for testing. The RNS confirming the offtake was September 26th, on 19th of November there was a placing to raise £400,000 and in that RNS we were told 1000 tons have already been shipped. The time between the two was 54 days...
so if we are getting £53.5 per Ton, and it takes 50 days to ship 1000 tones... Id estimate over a year we ship approximately 6600tons which would bring approx £356,000.
If this is currently our only source of income then £356,000/Market Cap gives a P/E ratio of 32.64, which isn’t great. However, if the testing goes well then perhaps we can finance growth posthaste!
Has anyone estimated exactly how much we will be receiving for this 10,000ton sample? I would have thought that alone would be greater than our current market cap?
Everyone has that problem, that’s why being patient is such a valuable trait. If it was easy everyone would be Warren Buffet
No problem Hull, no harm in asking questions! Long story short the amount of shares issued here is a drop in the ocean, but JW gobbling up more shares in any capacity is a vote of confidence, we have a tiger by the tail here but it may take another proven we’ll or two before people really start to believe its one giant structure
Here’s hoping!
Totally agree, this is a good sign and should boost SP, not lower it
If Calao follows the same timescale as Indico then I’m estimating a 60day lead time from spud RNS to STT results. If we stick to the plan and spud this month that puts us end of March / start of April. I think that this will be pivotal as it will help confirm whether or not we are dealing with one Ocean of Oil or multiple lakes
Now if that’s not a vote of confidence I don’t know what is...over 16million shares bought in delayed sales!
This could create some excitement...
Just made a nice little top up... the market cap here is massively usndervalued. The resources we have put us at more than 10x that for sure.
The tide is turning looks like, could see this finish up in the + going into the weekend in suspense of an RNS Monday!
These shares are on sale... and that won’t last.
The P/E is 8.42 right now... that is screaming bargain. We have had great news and great enthusiasm in interviews from Wardle. Cal-1 is all I’m interested in right now as it will give further support to the notion of an ocean. I’ve topped up again today and can’t wait to see this develop.