Member Info for Superdad

Agree with LT and Bump, there are placing shares that are over hanging the market. Also a lack of buyers (all buys are us, (I have bought my ISA allowance for this year over the past few weeks), so in reality there is little real trade and no interest outside the existing shareholders at the moment. Needs some really strong news to get any upward movement, which will probably be sold into initially

LT, one thing, all those warrants are higher than today’s price, so it would be more sensible for them to buy shares now than wait for the warrant price if they were so certain about the future?? I am positive but would love to see some proper buying from those in the know at this level

LT, agree. Looking at the positives, there were no new warrants on the recent placing, the vast majority of the warrants are at .072, and every warrant bought means the equivalent amount of cash is received by the company. If I bought warrants at .072 when the SP is .072 the company could rebuy those shares on the market at .072 and no dilution or change in cash position. Think people aren’t er scared re dilution by warrants, it all depends how the warrant exercise price is “invested” by the company when the funds come in. Just a slightly more positive take on it!!

LT, I think the warrants were already there from previous fund raises and they were not previously reported. Nothing new has been issued or sold by Wardle

Marc, you have it wrong in my opinion. Wardle has not sold any shares, the dilution was on the 8th April, the day the new fund raising shares hit the market. We increased the number of shares by just under 25%, and Wardle only took 10% of these. As a result his %age share holding was reduced by around 5%. He has then “increased” this by increasing warrant ownership. That’s how I see the RNS, any views?

I bought 20m earlier today at .0266. Looks well under valued although TP overhang won’t allow it to go up much in short term without news

Hoping they can raise the £1m, disappointed Wardle only took £100k and not the amount in proportion to stake. Should here later today….. although this is IRON!!🥴

I expect we will get the interim and final accounts this week as interims required date is 31st March. Without any off take agreements I expect we will see pressure on SP due to the pathetic missing of deadlines and impact of Iran war (as well as no reported progress of there isn’t any!). Way investors have been treated is so poor, and I am sure we will feed this back at AGM when that is held

I fully expect an announcement today

Hmmm, accounts will be but they won’t reveal anything much!! It will only be 2 weeks since last update so I would live more news but probably not all that likely in reality

No way to dress this up other than very frustrating and disappointing. The floods were really bad and have probably put us back 3 months, longer than I had hoped. No signed contracts yet, although progress is being made with discussions and it is probably difficult to sign a contract when you are producing nothing at the moment! Trying to mitigate against future floods is good, although how much this delay and improvements are costing us and our partner is a worry. At least we still have a business, have the asset, demand for product is good with other markets opening up and once we get to production things should only get better!!

Last announcement was in the evening a few days after the month end, so could be tomorrow morning or evening or sometime next week! Accounts are of course immaterial (except for lifting of suspension of course!). Hoping for good news re getting production going post the floods, contract discussions, and an overall positive vibe! GLA (except those constantly negative posters who do so for no good reason!) 🤞

Not sure why people are trying to scaremonger here. Accounts will be released in next two weeks, update will give more details (if there are any) on contract negotiations, and any necessary raise will be minimal if at all (personally I am hoping there is no need). Floods have delayed production but it is now sunny and 30 degrees virtually every day in Limpopo and as the RNS stated flood water and possible future issues are being dealt with. There is no chance of big raise or shares being cancelled imho.

Https://africa.businessinsider.com/local/markets/after-us-extends-agoa-china-finally-agrees-zero-tariff-access-for-53-african-nations/zfkdvrj

LT, I agree although they are probably acting for a large company that need this amount of product, there are examples of where companies integrate the food chain especially if they are very reliant on supply of one ingredient (Tesla batteries for their cars?), but I take your point and it was a bit of wishful thinking! I don’t expect a take out but they do potentially want a lot of ore and magnetite!! Let’s hope it proceeds to contract, although there are dangers if we are over reliant on one customer for our income

HarChris, very balanced and agree. Production pushed back 2 months or so due to floods, can live with that as we can hopefully secure contracts and even more interest during that time. So I have put my expectations back to Q3 for real SP movement. Also crossed my mind that if Germans want 300,000 ROM and over 15,000 tons magnetite why don’t they buy us for a few multiples of current SP??!!! Wishful thinking?

HarChris, I totally agree and expect news by the end of the week if not sooner. What that news is I don’t have a clue but hope positives and we can get the accounts issue dealt with soon

Marc, nope! Gold and Silver over inflated due to war etc and down as Ukraine ceasefire. Market up 0.29% as I type, no contagion as I see it today. Gold and silver tend to be flight to safe haven, if flight out of safe havens that tends to be invested in stocks. So we disagree again, sorry

What market meltdown? News today or Monday, no sweat. If accounts a few more weeks, no problem. News on contracts would be good. Also flood update which may be a slight downer. Still, entering dry season soon so contracts and output the keys

Marc, that was a useful article re the weather and I have been doing a bit of research off the back of it. The flooding is awful and I am sure the mine and surrounding roads are affected. Although the forecast for next week is dry and 30 degrees, there will be a large cleanup and mending of infrastructure needed. The exact extent I don’t know, but it will be several weeks at least and probably delay our mining progress. It won’t stop us gaining new customers and continuing to promote the mine, but will delay meaningful output. The article was a good find, albeit disappointing info! SD