Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Lots of drills turning and I expect that the next 3 months will be news heavy (long term holders will see the irony in suggesting that good news equals a higher share price) but we do now have a solid valuation to fall back on.
Ghana
-7 new targets being drilled at Ewoyaa (Mankessim licence) which will lead to a resource upgrade
-3 new exploration targets in other licences will demonstrate some upside potential and scale
-Lithium market is hot and its entirely possible that we'll see some activity with offtakes / partners etc
Cote d'Ivoire
-3 drill rigs at Zaranou targets Ehuasso, Coffee Bean and Yakasse
-MRE expected Q1 from Ehuasso
Chad
-New drill at Dorothe main target - company has spent 5 or 6 years exploring and preparing the ground for a drill - this is the big one imo
Good luck and DYOR
Agree, there is absolutely nothing to suggest that Geodrill are selling or have sold. By my calculations, they are at 2.6% and therefore do not need to release a TR1
When the sp touched 48p a couple of years ago, it was because IronRidge was aggressively snapping up lithium licences in Ghana and Cote d'Ivoire. In fact, the land grab gave us the largest lithium landholding of any UK listed company and that's still true today.
Following some dilution, the equivalent ATH today would now be around 30p. Seems like a good price but we didn't have an Ewoyaa scoping study back then with a post tax NPV of £250m. And 30p only gives us around a £120m mcap.
However, the Ewoyaa project is just a small part of the Mankessim licence and the Mankessim licence is one of 10 lithium licences on the Cape Coast in Ghana. Since 48p, IronRidge has conducted extensive surface exploration and aerial radiometrics across several other licences and have identified a significant number of potential targets - Ndasiman, Amoanda and Hweda within the Saltpond and Apam West licences are currently being drill tested. Looking at the radiometrics, the Hweda target looks very promising and I'm looking forward to seeing the drill results.
Its pretty standard for exploration companies to peg a licence, follow up with surface exploration then drilling, make a discovery then watch as every other exploration company pegs the land around theirs. IronRidge does not follow the same format. Instead, Vince and Len pegged all of the licences along the Cape Coast from the start, then made the discovery and now they have immense upside potential.
For example, Egyasimanku Hill, further down the Cape Coast was has a historical lithium resource of 1.48Mt at 1.66% from a 1962 survey. That's only a tenth of the Ewoyaa resource but bear in mind that the hill is actually one huge outcropping pegmatite and previous explorers couldn't get the drill up the steep slopes and they could only drill to 30m depth. I guess that there were not enough Gigafactories in 1962 to overcome these issues!
This is just the beginning!
Good luck all and DYOR
And just like that, the tide turns!
Well done everyone especially LTHs who have endured a senseless market for so long. Value is now written in stone for all to see and hopefully that will form a base from which to move higher.
Only a matter of time before we join the list of lithium projects with some sort of deal.
Also great to see Dorothe, Vavoua and Kineta get a mention in today's RNS. We have an unbelievable list of pipeline projects. Zaranou is very good but I will stick my neck out and say that Dorothe is even better.
Multiple province scale projects across 3 countries and we are only at the beginning of an epic journey.
Good luck everyone and DYOR
I don't post on here often but I had to pop on just to say that's one of the best posts I've ever read on this board Carey, top marks whether it's true or not! I doff my hat.
There's just enough of a link between the Australian miner that you reference (IronRidge shares the same broker so very likely that the CEO would have been offered the placing and definitely has the funds to participate at a high level) and it's impossible to prove / disprove.
If it was true it would very likely attract an incredible amount of interest here. I am sceptical but this is AIM and anything can happen.
Good luck everyone and DYOR
I heard the number being talked about was close to 20m shares ??
He had less than 100k
Someone started a rumour about the CFO selling and the shorters jumped on it. Hopefully they didn't all get out and will get squeezed in the morning lol
https://twitter.com/Toro_AIM/status/1326204139123183618?s=19
https://twitter.com/Toro_AIM/status/1324288048029409285?s=19
Dean, a closed period is something else and doesn't apply to this scenario.
Directors of UK listed companies only need to get approval from the chairman to buy.
Here's an excerpt from Stockopedia:
When can Insiders Trade?
The directors of companies traded on the LSE cannot trade during the two months preceding a preliminary, final or interim earnings announcement and one month prior to a quarterly earnings announcement. Outside the trading ban periods, directors still require clearance to trade from the board's chairman. In contrast, there are no such restrictions in the US system which favours frequent disclosure to remove possible insider advantages rather than trading bans during price-sensitive times.
https://help.stockopedia.com/technical-guide/insiders/directors-dealings-disclosure-rules/
Lithium prices are coming back and I'm confident that we'll see some traction here soon. With all the focus on Zaranou, it's easy to forget that we have the best lithium project in Africa. That's not being rampy, Ewoyaa's purity can compete with the world's best resources and location is superb. Couple this with the simple process flowsheet (due to purity) and it will end up being some of the cheapest lithium on the planet. (This also means lower capex btw).
But it's the Lithium upside that I'm most excited about. Ewoyaa will be a mine but it's only a tiny dot within our sprawling Cape Coast licences. Egyasimanku Hill is basically one giant spodumene pegmatite that can be easily mined with an excavator! The catch is that it's on the edge of a forest reserve. However, we've previously been granted reconnaissance permits so the mining ministry is looking positive.
Then there are several other large signals from aerial reconnaissance - all much bigger than Ewoyaa. No guarantees until the drill goes in but we already know that it's a lithium rich area and there's the potential for high purity.
Lithium is coming back in fashion and IronRidge are poised to take full advantage. Vince is the dealmaker, let's see what's in the pipeline!
Good luck all.
Amazing numbers today. We'll done everyone who kept the faith. Its been tough but we knew what Vince was capable of delivering from these spectacular assets.
Zaranou has been a very special discovery but we've only just scratched the surface of this 47km strike. Already we have two drill areas looking good and a third with historical results to come.
I still have a much higher target and the precedent has already been set previously by SOLG and currently by GGP - both non-producing explorers who have done very well.
Chad still a favourite of mine and I'm hoping that the gold price will make this look even better for a potential partner (it's just too big to go it alone).
The lithium market is also starting to pick up and there's so much more potential from our Ghana licences - at one point I believed that Ghana was going to be our pay day!
Lots more to come from a very big collection of gold and lithium assets.
Best of luck everyone and DYOR!
I'm still here too. Agree, not much to say right now. The world is a very different place today than it was three weeks ago. Very unfortunate timing for the whole world to shut down but there are also more important things right now. Hope that all of you and all your families are safe and well.
Glad to see the BB is going strong! Some great research being shared. Been a bit busy with other things recently although I have been buying more IronRidge!
Last week's tweet was another game changer and we should be trading in the 30's right now just to get back to fair value - the whole resource sector has been hammered this year and it looks like normality may be returning. My target still remains >£1.50
Imo, the company hasn't put a foot wrong. Proper company, great management and most of all...some world class prospects! The Geodrill deal will start to see some asset value being realised in the market.
GL all, our time will come!
All lining up to be one of the world's lowest cost producers and (at least) comparable in size to the mighty Pilgangoora. Tick tock
Hi moureeses, good to see you posting on LSE again.
I agree with Mike that the lithium is now our quickest path to realise shareholder value. The long term outlook for lithium is very good - I think we're up to about 90 battery factories worldwide and nobody is spending that kind of capex if there isn't going to be orders. Very strange that analysts carry on reporting over-supply but also fail to take battery factories into account. Also, there's a huge disparity between lithium mining and lithium conversion - they built mines and maxed-out offtake agreements but now there's no capacity to convert to a usable product - the offtakers are behind schedule. Everyone forgets just how new the lithium / battery / EV industry is. Getting the supply chain working will take time. It will right itself long before we dig anything up.
And once we hit that EV disruption s-curve, all bets are off. Impossible to predict when that will be so analysts can only base their calculations on current data - the s-curve is not built in.
We have a huge amount of potential with (at least) 3 of our gold projects and I think we could see some benefit if the spot price continues to rocket - I would certainly expect increased M&A activity in the gold sector. I wonder how many 'drill ready' large scale, open-pit gold projects there are in the world. We have 2.
Did you even read the RNS? Drilling is all covered with existing funds
Fair points Mike. I imagine that drilling will complete in Q3 and assays / JORC in Q4. We're not using those labs anymore so I would expect results to be much quicker. Maybe they will send samples in batches (so not waiting for all drilling to be completed before sending all samples?) End of year still very feasible imo
Lots of people sold out MB, but they don't all feel the need to gloat at other people losing money with childish unfounded comments. It's a BB not a playground so at least come here with something constructive. Talk about the geology, financing, assets, commodities, company presentations, market releases, broker notes etc. That's why this forum exists. Not so bitter ex-holders can hide behind their keyboards - if you and Adamski have a problem with the company and the management then why don't you go meet them face to face in London this year??