IXR General Discussion 2022
- Thread starter Mazewolf
- Start date
It was a sneaky announcement in a way...
Mining license approved for GRANTING.
In other words, its not in the bag yet......but its very promising that it will.
As a result, not a bad response, nice breakout, above average volume, indicators look bullish, first challenge now is to break the current resistance at 2.6, then 3.15 resistance would be the next challenge to over come.
Dow was negative over night ( 280 pts down ), so hard to know how IXR responds on Monday, push back or push thru ?
See what happens.
imo
Frank
Top 20
Yeah, i wont be totally comfortable with mu investment in IXR until that ML has been inked and confirmed, given what has transpired with AVZ, but IXR BOD think its a formality given they have stated production is on track for Q1 2024...big call, cant produce without ML...
Mr Market liked the announcement, 93m turnover creating a beautiful bullish engulfing candle, DOW was up 390 pts last night so could positive sentiment push SP past the 2.7c resistance and get to 3 / 3.4c resistance come next week?
Indicators have plenty of ammo left on the daily, cant get a visual on the hourly atm.
Anyway, pretty sure 2c support is going to hold now, just a matter whether 2.7c resistance becomes the new support short term.
We shall see.
imo
Remark
Top 20
Looks like IXR is on some people's radar today. A nice push on open with decent volume.
Some nice line wipes early on.
https://stockhead.com.au/resources/...p-of-joining-a-very-exclusive-producers-club/
Some nice line wipes early on.
https://stockhead.com.au/resources/...p-of-joining-a-very-exclusive-producers-club/
Last edited:
Frank
Top 20
As i said in previous posts, IXR needs 100% land access agreements before being awarded ML, they now have 90% agreements, which is a nice push up from the 75% agreements not too long ago.
Nice work by the IXR BOD, Uganda Govt proactive as well...........are you observing this FT ?
IXR are primed for ML approval potentially this month, definitely before Xmas imo
Good luck to us all...........especially you @Frank me ole mate!!
Prosperous future not far away for IXR.
imo
Frank
Top 20
The road to production: Land access agreements pave way for mining license at Makuutu rare earths project
- The Ugandan Government has approved land access for over 90% of Ionic’s mining licence application (MLA) at Makuutu
- Ionic expects to secure close to 100% of the 44km2 MLA in the next ten days
- Formal issuance of the Mining Licence can occur once land access has been verified
Special Report: Ionic has reached a significant milestone in its development of the Makuutu rare earths project in Uganda after securing over 90% of land access agreements as part of Stage One development.
Ionic’s flagship Makuutu project in Uganda, 60% owned by Ionic through local Ugandan operating entity, Rwenzori Rare Metals (RRM), is an ionic clay hosted rare earth element (REE) deposit, with mineralisation stretching 37km within the company’s tenure.
The project is one of the most advanced heavy rare earth projects globally with its Stage 1 DFS outlining a 35-year life initial project producing a 71% rich magnet and heavy rare earth carbonate (MREC) product basket.
IXR expects to produce its first MREC from the Makuutu demonstration plant in early ’24 to potential customers and offtakers who have shown interest in partnering with the company to secure magnet and heavy rare earth product.
Land access agreements for over 90% of full 44km2 development
IXR has now secured land access agreements for 92% of the full 44km2 mining licence application for Stage One development.
These agreements cover the Bugweri District (94% completed), Bugiri District (84% completed) and Mayuge District (90% completed).
Progress across all three districts is continuing rapidly and IXR expects to secure agreements covering close to 100% of the 44 km2 MLA area in the next ten days.
From here, formal issuance of the mining license will occur.
No.1 flagship mine in Uganda
IXR managing director Tim Harrison says Makuutu, which has the full support of the Ugandan government, is set to become the country’s flagship mine and new laws in Uganda’s mining sector had facilitated a conducive mineral investment climate.
“Uganda’s new mining laws and regulations offer a clear framework for mineral development in Uganda,” he says.
“Our focus on the delivery of the Makuutu heavy rare earths project positions us to provide a secure, sustainable, and traceable supply of magnet rare earth oxides which are critical for the energy transition, advanced manufacturing and defence.”
Remark
Top 20
Trading halt re: Finalisation of fund raising
It was a good move imo, now Mr Market has no excuses not to re rate IXR when ML pops.....
imo
Similar threads
