Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Very good RNS!!
"The decision to advance the Ewoyaa Project area ahead of a maiden resource estimate was predicated by the ongoing success with the discovery of new pegmatites in the immediate project area, exceptional metallurgical test work results and a robust treasury."
"Robust treasury"
So not only do we have the new Ewoyaa West target, we also found another significant pegmatite between Ewoyaa West and Ewoyaa! And they are both open......so potentially could get bigger!
Mine environmental planning is starting. Ewoyaa will be a mine and that is what IronRidge is working towards - there's your long term plan folks!
Funny how all the trolls want to tell us where this is going but they ALL bought at 25p or above (some above 30p). How come they all got it so wrong but now pop along regularly to impart their wisdom.
I don't know where the sp will be at the end of this week or at the end of this month but I'm predicting something a whole lot higher once we have numbers from Ghana, CDI and Chad!
GLA - our time will come
What happened Adamski? Did you lose money and now you're wishing the same on everyone else?
Back at February 2017 prices :(
Seems to have been absorbed easily and holding in this range which is good. They will run out of stock eventually and should mean a decent move up.
Some CF shares will maybe have been sold off-market or picked up by traders? Or could be a PI with deep pockets?
Agree with that entirely Swest. Exactly where I am at too.
I spoke with VM recently and I believe that he is doing everything within his power to deliver shareholder value. The fact that it hasn't panned out (yet) has not deterred him from the plan and vision that he has for IronRidge. If he had a magic wand to control the market or if there was a strategy that could double the share price in a week, I'm pretty sure he would have used it.
Many are critical of the strategy (or at least the lack of a published long term plan) but things change every time a sample is taken, every time a drill bit turns, every time lab results are received or even delayed, or after every meeting with government officials, every time a licence is granted or delayed, every time they visit the sites. IronRidge are undertaking a huge exploration task across multiple licences in multiple jurisdictions - priorities must be swapping on an almost daily basis. I run big engineering projects for a living and I can only imagine the reactions that VM and LK are having to make based on data alone, now add in politics, now add in Africa!!
A very good example is recent criticism of IronRidge not 'drilling the hell out of Ghana'. Did anyone expect them to do this BEFORE they'd tested the mettalurgy? Insane!
In my opinion, a long term plan would actually attract more criticism after each milestone was missed or changed due to normal exploration issues. Exploration is a tough gig. Even more so in Africa. The story, the assets, the backers all add up to a compelling investment and I will continue to build my position.
I topped up earlier. I was buying at this price 2 years ago. Before we'd drilled anything. Before we understood the scale of lithium mineralisation.
Still believe that the 96p SP Angel target is achievable from Ewoyaa alone - the much bigger pegmatites in Ghana are a bonus. And what a bonus!
If the market is bored or doesn't get it or can't see where this is going, then I'll continue to take advantage.
Tough times but I'm holding long term. There is a huge upside here imo. GLA and DYOR
That's a hard fall today! Can't believe we're back here! :(
Not sure Mike, I'd think we would be seeing more news out of Ghana soon although they probably had a break for Ramadan recently. The Egyasimanku Hill licence could land at any time - unfortunately the company is at the mercy of the ministry of mining and these things don't often happen quickly in Africa. Plenty to keep them occupied at the Mankessim licence right now though especially with the discovery of Ewoyaa West.
Something interesting I'm looking at this week.....
Looks like we have the second largest exploration tenure in the Ivory Coast. Centamin is marginally in front and we are ahead of Endeavour and Orca (although possible that Orca may push us into 3rd by end of the year).
And this isn't a 'my area is bigger than your area', quick everyone buy IronRidge - there is a very important point to VM's Ivory Coast strategy....and it's echoed by some very successful gold explorers and miners. It's all about the Birimian geology!
The Birimian rocks are major sources of gold and diamonds that extend through Ghana, Côte d'Ivoire, Guinea, Mali and Burkina Faso. They are named after the Birim River, one of the main tributaries of the Pra River in Ghana and the country's most important diamond-producing area. Ghana and Mali are the second and third largest producers of gold in Africa, respectively. But Cote D'Ivoire has ambitions.
Cote D'Ivoire is still largely unexplored (mainly due to past political issues) but it also has the greatest share of the Birimian (35%) throughout the whole of West Africa. This represents opportunity. Centamin (£1.2bn), Orca (£50m) and Endeavour (£1.3bn) are doing the same.
That's a great deal to take full ownership of those projects at a huge premium to current sp. Lots of confidence in Vavoua and follows the strategy of 100% ownership throughout the portfolio. Shares locked away for 12 months - I wonder if Major Star and Bluefin have had a field trip down the road to Zaranou??
Yes leeds, I take some solice in the fact that Tekton, Assore, Sumitomo and DGR took shares at 35p. And more recently, Assore, our chairman, our CEO, his friends and family all took shares at 20p.
Munchbox, you fail to enter into any debate. You have not answered any questions. You fail to provide any evidence to back up any of your claims. You seem to take great pleasure whenever the sp drops and people on here lose money. I wonder if it also feels good when you lose money?
I'm sure that everyone on here can see that you are just a troll. Nothing more.
Not sure how you went from IronRidge champion ramper (in March) to the utter hatred that you must have for this company and it's investors. And then constantly posting 'I'm sorry if I upset anyone'. You're clearly not.
Thanks WG. IFC appear to have been quick to issue TR1s and yet there's nothing new from them and they have a lot of stock to shift into a pretty illiquid market.
Are City Financial still holding? I haven't seen a TR1 but they were dumping most of their small cap stocks earlier this year.
I agree N2S, it's definitely holding us back. Investors know that at some point we will need more cash but this is also true for almost every other exploration company. We also know that IronRidge is a very lean operator and does not burn through cash quickly. That £5m should be good until at least March or April imo
I've seen that summary somewhere. If I recall correctly, it wasn't best placed.
Some big sells here today. Any idea who the seller is, why they want out and at what point they will be finished? Is it a TR1 seller and just not declared yet?
VM has stated that we do not need to raise more funds this year.
MB, are you ever going to answer a question or just post random negative stuff without backing any of it up?
Anyone can do that!
See you over on CNR lol
Not getting what you mean MB.
You call VM a liar on a public forum for what is essentially an estimated future valuation based on peers AND a fully calculated estimate from one of the UKs leading mining commentators. The valuation is reasonable imo but you've yet to offer a single valid argument to the contrary. Not one. And I fully expect that you will continue to avoid the 'fair debate' that you ask for.
And now you're backtracking asking how long it will take?? I don't recall VM putting a timescale on it. Please point me in the direction of that interview.
Maybe you should refer back to your own posts in March this year where you stated several times that it could be an 18 month hold. But now you are openly criticising VM for not turning this into a billion dollar company overnight?
Do you seriously believe that the exploration business works like that? Honestly?
And what if it costs another $20m to get there? Or $50m? I'd consider that a very good investment considering where our mcap is right now.
I think you're missing the point of why we have markets and trying to use this as a negative. Most investors get to grips with this simple concept very early on.
N2S and Oscar, that's the point right there. Ewoyaa alone will at least support our current mcap (although we should get an uplift) but Ewoyaa is only a tiny part of the Mankessim licence - there are many more pegmatites within Mankessim left to explore. The Mankessim licence is just 1 of 10 licences in Ghana. If we only get one Ewoyaa from each of our licences, there's your £500m