Ironveld
IRON · AIM · Basic Resources · mcap £4.0m · 0.0p 3 open situations →
- EV
- £6.8m
- EV / EBIT
- –
- Net cash
- £75k
- FCF yield
- -59.8%
- Revenue
- £4k
- Share price 1y
- −59%
- Insiders 12m
- no deals
- Next report
- around 30 Mar
Open · 3
DMS Plant production ramp-up
Flood recovery and upgrades ran from October 2025 with Daemaneng operating the plant. On 29 April 2026 the reconfiguration was four days behind, with 2,500tpm guided for June. On 14 July 2026 the Company confirmed sustained production on a 16-hour double shift, with sales to two clients and a third due samples. Still no revenue reported.
- Product purity
- New separator expected to deliver above 90% magnetic purity 29 Apr 2026 ↗
- Schedule
- About four days behind due to inclement weather 29 Apr 2026 ↗
- Throughput
- 2.5 to 3.5 tph against 5 tph design; target 5 tph by end July 2026 14 Jul 2026 ↗
- Product output
- Average 1.4 tph in-specification DMS magnetite plus about 1 tph Maghemite 14 Jul 2026 ↗
- Clients
- Three secured; two received about 100 tonnes and reorder; third needs about 5,000 tonnes per month 14 Jul 2026 ↗
- Stock
- About 350 tonnes of in-specification product on the ground 14 Jul 2026 ↗
- 14 Jul 2026 Sustained production reached; tuning to 5 tph
- 29 Apr 2026 Plant reconfiguration nearing completion; first deliveries imminent
- 31 Mar 2026 Restart under way; stockpile moving to plant
- 31 Mar 2026 Upgrades due end-March; colluvial mining 2-3 weeks away
Tracarta Limited towards control
Tracarta Limited raised its stake in Ironveld from 22.36% to 26.97% on 15 May 2026, crossing 25%.
- 15 May 2026 26.97%
FY25 accounts delay and AIM suspension
FY25 accounts were late, forcing an AIM suspension from 2 January 2026. Audited results on 31 March carried a going-concern material uncertainty, with cash of £75k and c£4m of creditors. The bookbuild raised £1.1m the same day, oversubscribed, easing the funding gap. Admission is still conditional, and the announcement does not say whether the suspension has been lifted.
- Audit
- FY25 audit report unqualified, with a going-concern material uncertainty paragraph
- Creditors
- c£4m at 30 March 2026 31 Mar 2026 ↗
- Board view
- Confident additional funding can be secured 31 Mar 2026 ↗
- Size
- £1.1m gross raised, up from the up-to-£1m target 31 Mar 2026 ↗
- Discount
- About 48.3% to the 2 January 2026 suspension price 31 Mar 2026 ↗
- Broker warrants
- 293,333,333 warrants to Turner Pope, five years at the Issue Price 31 Mar 2026 ↗
- 31 Mar 2026 Funding raised, subject to Admission; suspension status unstated
- 31 Mar 2026 Equity fundraise launched; suspension status unstated
- 31 Mar 2026 Funding sought; going-concern warning issued
- 31 Mar 2026 Interims published; suspension status unclear
Closed · 1
Company filings. Not investment advice.