LMAO, cheap insults from an emotive 1 stockholder, flooding this forum daily with 697 IXR posts in 2024 and I am the keyboard warrior...LOL!!!
If you had been a LT-SH you would know that IXR are now 2 completely different companies which have transitioned from exploration, drilling in an exciting REE market focused on Makuutu with plenty of SP upside 0.006 to 9.5c with volatility, that's how people can make $$$ and company grows one's MC etc...
In last 18 months we have basically become a new company with a completely new board and the REE market has changed, along with IXR's direction, good thing, bad thing we don't know yet, but is progressive and adaptive and we are still in the developing/financing stage... Will it pay off maybe, will it fail maybe, no one knows, that's the risk we face... Personally, if we secure funding and $100 mil is bugger all, this should be easy to source, but we have to secure the critical large US/EU contracts and produce refined REE at very large quantities and from 2 plants either side of the world, then in 12-18 months we can potentially be back to rewarding SP levels...
BUT in last 24-18 months my concern during this transition are warranted and mistakes have been made imo. You obviously believe what people tell you, living daily on the IXR thread and highly emotive, I get that owning one stock and watching your investment go from around the 4-5c now to 0.005c when you first invested, I would be as well watching my investment in free fall...
Trust me I have 2 dog stocks and over $500k down, that's the B$ spec market with ever increasing useless, clueless, self-serving lifestyle directors, who are not fit to be directors imo. The ASX is now full of them like the plague of Bora beetles and fire ants... Tim is not one of those directors and have always found him to be a smart, highly motivated and approachable/likeable man, has he made mistakes, imo yes.... I hope we make no more!!!
Now why would I have the need go to an AGM, especially in Melbourne, I had a mate attend, so know all about it, we do have modern communications (phone/email) etc, lol, imo all AGM's should be live streamed via zoom etc... Plus, IXR or their representative present regularly to many of the other important conferences I attend...
My concerns/questions have been answered... Have a read below, you know nothing about me and an idiot I am not... My advice learn, listen and open one's eyes before attacking one's character, Have a good IXR day, lol... Again, why do I need to go to an AGM, LMAO!!!! Have a good Xmas to all, over and out.... Enough time wasted replying on here....
What happens if you don't get UK funding?
The Company is exploring options around the total financing package in the UK – this is not only the APC grant, but also participation from the UK National Wealth Fund and strategic investors, plus off take considerations.
Discussions today with the APC and the UK government have been very positive and it was the APC who proposed the grant to the Company as the logical next step in support within the UK. The Company is expecting a positive outcome in Q1 2025. The quantum of the grant is considerable.
Why sell VMM at such a low Share Price?
The reduction of VMM share price has been disappointing given the milestones delivered over the past 12 months, dropping from $2.40 in late 2023 to a current price circa $0.40. The Company was expecting a substantial rerate on VMM post the announcement of what was a very positive maiden MRE in June, however sentiment significantly changed post the MEI scoping study, and depressed RE prices have negatively affected the sector. IXR without many options decided to liquidate its position to avoid having to raise equity in Q3 which would have been dilutive for shareholders.
Why doing a Placement and SPP at such a low Shareprice?
The Company needs funds to continue investment in its assets. Directors have identified that simply stopping spending all together on its assets would have a negative impact on the Company and as such with the demonstrations plants at both assets and the FS completed across Ionic Technologies, funds are required to navigate this period now until the outcome of the grant application can be received in early 2025. I would refer to the recent AGM presentation which highlights the amount of funds invested in assets, being both Ionic Technologies and Rwenzori Rare Metals (Makuutu) over the past 3 years.
The size of the recent raise, and the SPP has been targeted to minimise dilution, and provide funds for the company over the next 6 months with a reduced monthly burn rate post cost reduction initiatives.
Market conditions presently are very weak for the junior critical raw materials and specifically the RE sector, and the recent discount reflect the challenging environment.
How do you justify paying yourself and Brett Lynch over $500k a year and rewarding the whole board with free performance shares who many have never bought a share and SP dropped 80% in last 12 months...
You will be aware that all board and management staff have taken pay cuts recently and a significant cost cutting program was implemented across the whole company. The share price has seen significant decline in 2024 and while the share price provides a daily valuation, we do not believe it reflects the value of the business today, or what it will be in the future and we cannot fix remuneration to share price fluctuation. It is important to ensure Ionic attracts and retains highly skilled and experienced executives that can execute on the strategy we have, to grow the business, and especially through these early and difficult years.
Share prices of RE development companies across the RE sector have seen significant downward pressure over the past 12 months driven by sentiment and RE price weakness.
Whilst the share price has been weak through 2024, the Company has been working hard to position its assets well for when RE prices recover.
The majority of Directors have invested in the Company. Brett Lynch has invested over $2m of fresh capital into the company in early 2024.
Performance rights were issued at the start of 2024 on the back of a significant milestone with award of the Mining Licence at Makuutu.
As part of the overall remuneration strategy of the company in a competitive market, Directors and Executives were offered performance rights which are tied to deliverables and progress at the assets.
Brett Lynch was awarded sign on rights which reflects established practice to attract proven executive capability and this was done when the share price was multiples of where it is today
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