Member Info for RLL93

Until you can give more than tea leaf readings you can stick with the winding down process needs longer and there's nothing for shareholders.

That's just my opinion; you don't have to agree. As an IOG investor, you should be used to them telling lies. I was an investor in NNN and AMTE, which went into administration in 2023 and 2024 respectively, take a look at these for yourself, they show similarities with progress and extensions, I don't think that every company that goes into administration has something going on behind the scenes expect for a tonne of claims from secured creditors and employees that needs sorting, don't forget the administrators get paid a handsome amount per hour so the longer it takes the more they make. I really hope shareholders get something at the end of it but you've got to be realistic.

I agree, fantastic educational post there andypaps, I actually think recent RNS is more positive than people realise. The key word in it was finalising. That means the work is done and they are going through the last technical checks before release. If there were problems, you never see the word finalising in an RNS, you see things like “reviewing results” or “awaiting data”. We did not get that. We got a calm update with a clear timeframe, end of October, which is basically next week.

The fact they are doing the MRE under NI 43-101 also explains why it has taken longer. That standard is stricter and far more credible internationally than a basic JORC statement. It carries a lot more weight with serious investors, banks and potential partners. It also tells you something about intent. You don’t choose NI 43-101 if you are thinking small or negative.

The market is focusing on the delay but missing the bigger picture. There are three value steps lining up. First the maiden MRE for Mont Agoma and Kalayi, then drilling updates from Mont Agoma East, then a resource upgrade once the East zone is added. That is a clear growth path. Meanwhile tin is above 34k a tonne and copper and zinc are stronger too. Rome is still valued around 22 million despite hitting thick tin, copper and zinc intercepts next to Alphamin, the highest grade tin mine in the world.

I am relaxed about the timing. The work looks done. The delay is about compliance, not geology. For me this still looks completely undervalued compared to what is coming

The administration has been extended simply because the process is not finished yet. It does not mean there is a rescue plan or anything positive happening for shareholders. People are reading far too much into it.

The business and assets were already sold to CalEnergy back in 2024 and that transaction was completed. What is left now is just the legal and financial clear up. Administrators still need to settle remaining claims, deal with any disputes between creditors, handle tax and VAT matters, agree final fees and file the paperwork before the company can be dissolved at Companies House. That can take years. Extensions are normal and can legally continue for up to eight years if required. An extension is not a sign of anything good happening in the background for shareholders.

It is also important to remember where shareholders sit in an insolvency. Shareholders are last in the queue. Secured creditors get paid first, then preferential creditors, then unsecured creditors. Only after every creditor has been paid in full would any surplus go to shareholders, and that is not the case here. The sale proceeds were nowhere near enough to cover secured debt and insolvency costs, so there is no realistic route for any return to shareholders.

I had shares in another company that went into administration and years later I had a message through my broker to say administration is now completed and the shares were removed from my account. There is zero hope this company is getting revived, just look at the news of another much larger north sea operator filed for administration just today (Petrofac), luckily for me I didn't have any shares in this at the time of suspension, I did warn everyone on here just before and took my money out.

They either read this forum or their emails as people have been calling for an update. If it was being released lets says in the next couple of days I dont think they would bother with today's RNS, so that just leaves us with the end of next week, which isn't very long at all.

You'll know an RNS is coming when the big trades roll in.

No in here but seen the last 2 RNS and how its developing, looks incredible congrats and GL.

I feel like a placing is needed here to get it going....

Immediate revenue stream, 5 years, no cost to us, over £21 million investment... outstanding really.

The shirters here as so blatant, if they didn't have a financial incentive they would have moved along, very boring people.

£21.6m external funding, no dilution or debt

Daemaneng covers all mining capex/opex — Ironveld gets full project funding off-balance sheet.

Zero cost exposure = pure upside

Ironveld keeps 100% ownership and revenue exposure, with no mining costs or risk.

De-risked balance sheet

Moves Ironveld to an asset-light, cash-generative model — attractive to investors.

Free capex value uplift

Infrastructure improvements funded by Daemaneng still enhance Ironveld’s asset base at no cost.

⚙️ Operational & Strategic Strengths

Guaranteed ore supply

Daemaneng must meet all ore demand — ensuring a secure, scalable feedstock for Ironveld’s DMS plant.

New revenue stream

ROM material now commercialised — turning former waste into profit.

Performance-linked partner

Daemaneng only earns through sales — aligning incentives and driving efficiency.

Rapid production start

Operations begin within 30 days, using a contractor already familiar with the site.

💡 Smart Economic Angles

Inflation shield — all mining cost risk sits with Daemaneng, protecting Ironveld’s margins.

No equity dilution — Daemaneng gets no ownership, preserving full control.

Enhanced JV leverage — secure ore supply strengthens Ironveld’s hand in DMS plant negotiations.

Third-party validation — Daemaneng’s £21.6m commitment signals strong confidence in the asset.

Potential re-rating catalyst — Ironveld shifts from “developer” to “producer” status with zero-cost funding.

Interesting that all today's buys are showing as sells or unknown, you can see that by the trade price. Personally I wont be surprised if the MRE was to slip by a week or so as has happened before, remember the wording was "expected" so not guaranteed. I feel that if it was being released tomorrow, certain people in the know would put some larger buys in, much more than there have been today. I hope I'm wrong though.

Not only have significant areas of mineralisation been identified, but the scale and quality also demonstrate that this asset is mineable.

Everyone keep patient , RNS imminent.

Big volume and some unusually large trades on RMR recently compared. On AIM, this often tightens supply and can support upward moves if buying continues. The price hasn’t shifted much yet, but with trades of this size, it’s clear someone is confident and could be positioning ahead of news. The next few sessions will be interesting to watch.

RNS imminent.

3 weeks tomorrow since the last RNS, assay results imminent.

Got it thanks, just a reminder that the RNS said assay results in 2 - 3 weeks, Wednesday September 3rd will be 3 weeks.

Whats with all these Unknown trades

Imagine not being in this stock knowing that an RNS will be released early September confirming the excellent results.