Welcome back SP7, tons of news flow over the coming months........outstanding gold assays pending any day now ;)
Looks like Toro's busy today.......Will a re-share from a month ago tide you over earthling? All credit goes to Toro....... My first target has always been 100p. Once this is hit I will re-evaluate based on information available at the time. However, I believe that 100p is exceptionally conservative and here�s why�. 1. Based upon our current JORC at Monogorilby, only 1 target drilled so far, extrapolate this out to include all 6 targets and we have an estimate of 330Mt of Bauxite valued at ~$6bn (using $49.5/t). 2. Also at Monogorilby, we have the Titanium which could be up to 1.1bt at 3.8 - 5.2%. Let's be unbelievably cautious and say that there's only 10% of this resource in the ground and that it�s all at the low end of the grade � 110Mt at 3.5% - that's ~$13.4bn in the ground (using �3500/t). 3. Mapped lithium pegmatites from just one of our Ghanaian licences are about the same size as Prem�s Zulu which has recently yielded a resource estimate of 526,000 tonnes of LCE for just 35% of the total pegmatite length. Using a very conservative $10k/t, that�s $5.2bn in the ground. 4. May Queen has been compared to both Cracow and Gympie in Australia which are both multi-million ounce deposits. Airing on the side of caution, let's say we have 1MOz, that's $1.3bn in the ground. 5. VM said that Chad's Dorothe could hold 'several million ounces' and Am Ouchar and Echbara 'could mirror this'. Let's carry on with cautionary numbers and say that we have just 3MOz total from all three licences, that's $3.9bn in the ground. 6. Multiple IC gold licences in the middle of �gold country� with some great initial DD numbers. Conservatively estimating that we�ll find ~2MOz from all of these areas and that�s $2.6bn in the ground. 7. Iron ore prices have recovered recently but VM is quoted as saying that the Gabon Assets (Tchibanga and Tchibanga Nord) are feasible at $60 so the current NPV (based on an already stupidly conservative resource estimate) will be around $4.8bn. I�ve not included Belinga Sud here either. Add all of the above together and we have a total of $37.2 billion. Let�s say, for arguments sake, that someone would pay only 1% to acquire these assets � that�s $372m (or �284m) or a share price of 104p. In summary, I have justified a 300% increase in sp by using less than 1% of the projected value of just 50% of our assets. Just think about that for a second! Always DYOR
Fully funded and salivating world-class geologists.........just add a little time and we'll over take our sister company's mcap :)
casual contrived touch and reject of the 200dma.......looks like it's only going one way from here
And we're blue..........lol mm's
Bang on the 200dma, perfect top up price :) gl
5km+ Echbara gold trenching assays due any day now too, would expect some decent numbers
is a buy btw ;)
+1 earthling but maybe there's a metaphor in there - Ironridge being a hard, solid spine of Iron holding up the company's foundations with the other resources built up around it? I might just be talking out of my prem there though.....
I think quite a few of us are in deeper than we 'should' be here but then I think IRR as a company are bending all the traditional rules themselves with the level of backers, BOD and projects they have. This isn't going to be a get rich quick, 800% gains in a month and back to zero the next day kind of stock. It's going to take time to prove how much gold and lithium we really have and eventually get the resource JORC'd but most if not ALL this work is already funded. Then the Iron ore, bauxite, titanium and nickle(?) all justify the mcap by themselves. Ignoring the day to day fluctuations in share price the actual company is making great progress, are being led by the right team and are funded for a full drill campaign across all our junior assests. It is just going to be a bit of waiting game while it all plays out and the market tries to find fair value for what we have. Stick the 200dma on your chart and watch how we never close significantly below it for the next 2years+ :)
She's off again!
Spreading tightening and decent volume this AM.......it's about to move somewhere!
Great to see so many old faces showing up here again :) Lots of very serious, well researched LTH's happy to play the long game and see how this beast develops over the coming months and years here. More gold and lithium news due very soon........60p options getting converted before xmas imo GLA
:)
Fair point Toro, I'm being too short sighted towards the numbers today, the Dorothe project has had some pretty whooping figures from other holes Another great piece of a much larger puzzle today and marks the start of a very news rich period "There's much more to come from Ironridge in 2017"
I think it's not seeing a crazy reaction is because the grades are very commercially viable but not monsterous. We're at £100Mil mcap now so have to earn our next big legs up with slightly more than very encouraging trench assays. But then again, there's a TON more news to come over the next few weeks and if it was me I wouldn't release the best first....... Also have you seen the buying at 38p? Won't be held here much longer
Once we have more definite resource estimates in for our gold+/lithium assets I'd be very surprised if we don't get some majors sniffing around for piece..........85%+ tightly held though so I wonder where they'll get a decent stake from?!
Looks like perfect timing SM :) congrats! Building really nicely into news flow peroid, can't be long to wait now
for the believers :) Can we have some 10+g/t gold assays from Echbara this PM please?
:) we're all learning mate and I'm certainly no pro, always happy to be corrected by the more knowledgeable out there. Hopefully between us we can piece together the bigger picture and learn to be on the right side of all the fluckery. Practically all in here myself now apart from my little fun pot elsewhere and feeling very comfortable with my position GLA