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Ironveld (IRON) has followed a, 29th December 2020, 'no one watching o’clock' day results announcement with announcing the initiation of equity research on the company by Align Research – the research headed “Financing deal to unlock tremendous value at a world-class high purity iron, vanadium and titanium project in the Bushveld”. Sounds interesting – with at a current 0.675p share price, the Ironveld market cap £8.8 million...
Ironveld (IRON) has today announced results for its year ended 30th June 2020, concluding “we look forward to providing further updates in the near future”. Hmmm – releasing results on largely ‘no one watching o’clock’ days such as those this week doesn’t tend to mean good news...
Late March-announced results from Ironveld (IRON) included “your board remains confident that the company's asset, containing 27 million tons of HPI, together with significant Vanadium and Titanium content, continues to demonstrate robust economics and has a potential value many times in excess of the company's market capitalisation and balance sheet carrying value” – the market capitalisation then £2.6 million and stated net assets £21.7 million. Today a fundraising, from a £4.3 million market capitalisation with the shares having last closed at 0.65p. Surely a price competitive against that then? – and, given the stated “potential value”, even that unnecessarily dilutive?...
What can be seen on the daily chart of Ironveld is the way that the shares have so far had a mixed year, with the hope in terms of the perspective of the bulls being that we might at least have laid the ground for a sustained recovery in 2016.
Although at first glance it may appear that shares of Ironveld are rather ragged in terms of the recent price action on the daily chart, this is a decent technical setup.
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