Member Info for Piltick

Hi metis, don't know if they will reply to your email, but I note that at the very beginning of the RNS on 26 Sept. it states: "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..."
So that gives us a definition of what they refer to as "the Project" and I therefore assume that Peter Cox must be referring to the construction of the initial 15MW smelter.

And also, looking back to earlier RNSs, I believe that most of the finance for building that smelter was already promised, and that they were only waiting on the signing of the lease. However, I haven't seen any updates about that lease for a long time.

Depressing report. Disgusting the way that the UK has been dealing with its waste.

https://news.sky.com/story/thousands-of-tons-of-uk-plastic-dumped-across-world-11218595

So we want to leave the EU so that we can be in control of our own destiny? But we haven't even been able to control our own waste.

This report really doesn't surprise me. I've always held the view that the UK should never have been shipping its rubbish to other countries anyway, but instead should have been making the effort to dispose of it properly in this country. Perhaps now we will have to do that if no other country will accept our rubbish any more, and quite right.

Apologies if these issues have already been discussed on this BB:

Referring to the RNS issued on 26th September, it was stated: : In this context, the Middelburg Smelting facility remains an acquisition option for the Company." I believe it has already been suggested on this BB that this statement seems to indicate that the acquisition of the Middelburg 7.5MW smelter facility has been put on the back burner for now, although it may come alive again in the future. Is that generally understood to be the case although not specifically stated by the company?

Also in the same RNS, Peter Cox said: "Since acquiring the Project, Ironveld has obtained the necessary permits to begin construction..." I assume he is referring to construction of the site for the 15MW smelter that was spoken about as far back as 2015. He says that Ironveld has obtained the necessary permits, but I understood from previous RNSs going back to 2015 and 2016 that the hold-up with this construction was the lack of a signed lease from the government. I haven't seen an update on this issue for a long time. So if they have now received the necessary permits, is he intimating that they can now start construction, or are they still waiting for the signed lease? I just wonder if anyone is more aware of the situation than I am.

PS: Just for reference, in the RNS dated 20th May 2016 it was stated that the "Land lease being processed by Dept. of Public Works. Represents the last milestone following which the Company will be in a position to conclude the financing package and commence construction." So at that point, no mention of any permits still outstanding.

I see .lse are having problems again this morning.

Yes balman, I noticed the "mousetrap" reference as well! I thought, that's good, it shows that he read these BBs!

Referring to jasehem's comment on 26th September: "...why would an a potential offtake partner want to undertake a long-term test ...taken across the licence holdings “

I suggest that the answer lies in the last part of the statement in the RNS, "...for variability testing."

"...the Off-taker has indicated that they may request to undertake a long-term test of a significantly larger sample, taken across the licence holdings of the Company for variability testing."

Presumably this means that they want to be sure that the quality is consistent across the entire area.

Great interview. I'm already looking forward to the next one!

Absolutely fantastic! One in the eye for the de-rampers!
Still, I'm sure they will find something negative to say about it, as they did when David Ryan bought shares recently.

I expect there will be lots more news before the end of this year, such as:
- Planning permission for the first site
- Signing of the lease
- First firm contract(s)
- Progress reports on site constructions, and on construction of the first 25tpd unit.
- And more?

If the directors believed this to be the case, then surely they would shut up shop now and walk away rather than waste any more money.

But I very much doubt this to be the case. Anyway, I thought the locals were in favour of this project because it will give them lots of employment.

I want jam today, Newboy, not tomorrow!

Seems more likely to be 3 months payment to W2T at £20k per month.

Indeed, stokey. I'm at a loss now, and just hope that someone can throw some light on this. Perhaps all will become clear when we get the RNS announcing receipt of the validation.

Surely the services were valued at £60k stokey: 12,000,000 shares @ 0.5p = £60,000 according to my calculator.

But I thought that the validation was to paid in cash, from the proceeds of the placing that was announced in an RNS on 6th July:
"The proceeds of this Placing and the Subscription will be used to further the Company's Commercial activities including achieving independent, third party, Engineering Validation of the DMG® System processes..."

I don't think PHE will want to get into this type of waste disposal. I expect they will stick with tyre crumb and plastics for the foreseeable future. These two types of feedstocks are widely available in large quantities and high energy, hence high profit margin. No need to seek out any other kind of feedstock.

- Diamond drilling completed. 8 holes, total 489 meters.
- Feasibility Study now well advanced with targeted publication in Q4 2018.
- EIA and RAP expected to be submitted in October 2018 (previously expected in Sept.)
- Cash reserves sufficient to satisfy the Company’s present needs for approximately six months (from end of June?).
- The Company will need to raise further capital to implement its plans for the Mahenge Liandu project.
- The Directors are actively considering a range of financing options and are confident of securing the funds necessary to support the development of Mahenge Liandu.
- First production target within 12-18 months i.e. Sept. 2019 - Feb. 2020.

I'm sticking around here for now because I believe that the company still has some potential, despite messing around with consolidation etc. But I'm certainly not here in anticipation of any Chinese money coming in or any other form of Chinese involvement. I've been there before, and got the scars.

Canary: We don't know who is carrying out the independent verification because this info hasn't been released into the public domain. When it's completed, this info may be published, or it may not.

The following was posted by Nobbygnome on the ADVFN BB, and he has given his permission for me to copy here:

"I was at the PHE presentation at the Shares meeting last night. The CEO gave a somewhat flamboyant presentation and started with a joke that PHE was a 7 year old company which floated 8 years too early! The most important information was that the validation will be completed in the 'next couple of weeks'! I spoke to him afterwards and he was very confident that the validation would be positive. He also addressed the IP question. They have control systems IP but not anything yet on the process and machine itself. However, they have 3-5 years start on anyone else and he said that if you publish patents too early you give competitors information so that they can work out how to get around your IP. Make of that what you will....

Overall a bit too flamboyant for my liking but I have to say the presentation seemed to arouse a lot of interest in the audience and there were certainly a lot of questions.

Nobby"