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Hi Roeh, long time no see! Hope you're well. I was just looking at the photos of us with Vince and Len back in 2017. Great memories. RIP Vince, you will be missed by many.
What a journey to reach today's significant milestone!
Good luck everyone!
If it happened when you expected it, investing would be easy and everyone would be a billionaire
No matter what your view of the share price movement is, based on what the company has achieved, the current monumental spodumene price and a 21p share price, IronRidge is a screaming buy right now!
The lithium has been derisked. It is funded to production. The co has $28m banked. And lithium prices are rapidly moving higher. Right now, you are buying a 50p share for 21p. It's as simple as that.
Do your own research and good luck all.
Maybe you can highlight exactly where you think he's gone wrong?
Was it the 14.5Mt @1.31% MRE? Maybe the scoping study with a 125% IRR? Or the investment by Piedmont to fully fund the mine? Or maybe it's because Piedmont bought another chunk at 25p?
I agree Dropadollar, AIM and UK investors are not putting a fair value on IronRidge as it stands right now. If it was ASX, it would be much higher!
I still believe that the UK market will catch up.
Appreciate the compliment Baku, thanks for your kind words
Confirmed: Ewoyaa is the cheapest (opex & capex) HR lithium project on the planet.
Surely that alone is worth more than £128m mcap???
What's the market waiting for?
Buys or sells???
That's a good question! Ultimately I think that the gold company will be bigger. The lithium has the potential to make a multi billion dollar company and I'm positive that it will, but maybe not for IronRidge, I believe that it will be sold. And if it's not sold, I doubt that many will have the patience to hold it for those sorts of gains anyway.
The reason I think that the gold could be bigger is because of Zaranou, Kineta, Vavoua and one day Dorothe. We have seen the drilling results from Zaranou and surface exploration at Dorothe - both superb (Dorothe is outstanding at surface but no drilling yet) and well soon get a taste of Kineta and Vavoua. There are several other prospective gold licenses. Each could become a mine but we'll need to wait for further drilling to see where the priorities are.
The problem that we've had over the past 6 to 12 months is that the market hasn't reacted to any of the many positive gold RNSs. There's literally zero value being put on the gold right now. It's all about the lithium. The demerger is set to change all of that.
Massive amount of confidence shown from one of our backers today. Casually increasing their stake at the very first opportunity by $1m. They're not just here for the lithium and they know how cheap IronRidge is right now. I'm still a buyer at these levels. Insanely good project now derisked and plenty of other assets that could be even better. IronRidge is one of the best mining investments you will find imo
There you go folks, I think that answers any doubts that people had.
Vincent Mascolo - they call home the postman because he delivers!
Good luck everyone!
....
It's a perfect time for entry with the lithium derisked imo.
DYOR and good luck all!
Recent partnership with Piedmont Lithium (supply agreement with Tesla) who will invest $102m to take Ewoyaa into production sees Piedmont take 9.5% of the company, investing $15m in equity, $5m in exploration costs, $12m for the DFS and $70m capex.
Ewoyaa will be one of the purest spodumene concentrate producers due to its low impurities. Less processing is required meaning a very low opex ($247) and low capex. Try to find a hard rock lithium project with a lower production cost! Some of this is due to location, it's only 110km from a deep sea port. Only two other lithium projects cab boast better proximity to port.
It's currently a 14.5Mt @1.31% JORC resource but recent drilling will increase that number (expected in the next 5 weeks). The grade is also one of the best, certainly better than the Northern European projects which are typically low grade. Some other notable African projects are struggling with grades. And grade is critical for economics.
IronRidge also has one of the world's largest HR lithium exploration acreages with 684km² in Ghana and an additional 1177km² in neighbouring Ivory Coast. The Ghana licenses have radiometrics showing extensive lithium targets throughout the area as well as mapped surface pegmatite outcroppings. Huge upside.
The company has a significant gold exploration package in Ivory Coast with one license well advanced with 40,000m of drilling completed on 4 targets across a 47km strike. Awaiting MRE. There are only 2 or 3 other companies in Ivory Coast who have more land pegged than IronRidge. There are drills and other exploration activities on 4 other licenses with news due imminently.
The gold assets will be spun out in the next couple of months so that IronRidge can concentrate on the lithium and potentially selling the company outright. Demerger details yet to be announced.
Share price has been suppressed with a recent distressed seller (Jarvis / Pello) who dumped 24m shares into the market. So the price hasn't had a chance to react properly to the Piedmont news.
Piedmont made a similar investment in Sayona Mining a year ago and Sayona's share price did 800% after an initial flat reaction.
IronRidge's board are vastly experienced. The CEO is a mining engineer and COO is ex Rio Tinto and actually made the Ghana discovery. The company is backed by successful South African miner Assore (25%), DGR Global (17%), the mighty Sumitomo Corporation (7%). Board have 8%. Piedmont will hold 9.5%. The CEO holds 3%. Lots of skin in the game.
There's a serious amount of newsflow coming over the next few months including multiple license drill results from lithium and gold, demerger details.
Fund manager Miton are holding 1.5% and other funds are expected to show their hands soon. Current price is only just back to March levels, that's before IronRidge raised £12m and before Piedmont signed the $102m funding agreement.
Cash held is $30m.
It's a perfect time for entry with the lithium de
Interesting times indeed!
A lot of focus on how the US and the EU are going to compete with China and in the process everyone forgets about Japan, South Korea and India. All will be eager to grab a strong position in EVs and batteries. I think $1300 SC6 will soon be replaced by $1500 and maybe even $2000 by year end.
If we still have any unreserved lithium left in Ghana in 2022 I'll be very very surprised!
This is exactly what they're trying to do. Don't rise to it guys, you're all better than that.
Just a few sad individuals with nothing better to do than create doubt in a stock that they don't hold.
Totally agree with dropadollar, there's absolutely no way that VM would be holding a vote that he didn't already know the outcome of. It's a box checking exercise, nothing more.
Sayona Mining 13 bags since its offtake deal with Piedmont Lithium
IronRidge zero bags since its offtake deal with Piedmont Lithium
I don't think I'm being greedy saying that IRR can do at least 5 bags from here!
Roll on Tuesday!
Had a good look at Core and their Finiss project. It's a great company for a peer comparison. They're at a slightly more advanced stage than IronRidge but the resource is smaller. Finiss is also fully funded. Core have some other assets but looks like IRRs gold is further advanced. A lot of similarities though. Their market cap is almost 2.5x that of IronRidge.
Let's be honest here, the only real difference between IRR's and Core's mcaps is time. It won't take long to get to their stage, the funding is in place and the wheels are in motion. Just a bit more patience before we get there.
As I've said before, I've put my trust into the experts; Vince Mascolo, Len Kolf, Keith Phillips, Lamont Letherman - all highly qualified and well respected lithium professionals with decades of industry experience and many many millions invested between them. Total confidence