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IRON

Ironveld PLC

Basic Resources First-pass screen £4.87m
300/1000 Overall fit
AI beneficiary 35% 25
Operating leverage 25% 40
Valuation 25% 25
Downside protection 15% 30

First-pass take

Early-stage South African mining company with zero explicit AI exposure. Pre-revenue operations (£267k FY24); no customer offtake agreements yet locked. Material going-concern uncertainty; dependent on continued funding rounds.

Flags

going-concernpre-revenuesouth-africa-riskcapital-intensivecontingent-debtcommodity-exposedheavily-dilutedmicro-cap