TIDMIRR
RNS Number : 5236L
IronRidge Resources Limited
19 July 2017
19 July 2017
IronRidge Resources Limited
(AIM: IRR)
Director Dealing
IronRidge Resources Limited ("IronRidge" or the "Company") has
been informed today that Geoffrey Stuart Crow, a Non-Executive
Director of the Company, has sold 1,000,000 shares of no par value
("Shares") today (19 July 2017) at a price of 35 pence per share.
Following the sale, Mr Crow holds 1,500,000 10p options in the
Company (expiring on 31 December 2017) that he intends to exercise
this year, and 750,000 60p options in the Company (expiring on 3
May 2019).
The Board and Mr Crow reaffirms that he remains committed to
contributing to the ongoing growth and success of the company as a
Non-Executive member of the Board.
Mr Crow's shares have been acquired by Assore Limited which now
holds 78,916,667 Shares, representing approximately 30.1% of the
Company's issued share capital.
Market Abuse Regulation (MAR) Disclosure
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM:
1. Details of the person discharging managerial
responsibilities/person closely associated
--- -------------------------------------------------------------
a) Name: Geoffrey Stuart Crow
--- --------------------------------- --------------------------
2. Reason for the notification
--- -------------------------------------------------------------
a) Position/status: Non-Executive Director
--- --------------------------------- --------------------------
b) Initial notification/Amendment: Initial notification
--- --------------------------------- --------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- -------------------------------------------------------------
a) Name: IronRidge Resources
Limited
--- --------------------------------- --------------------------
b) LEI: 213800H1JY3J7BB6BN06
--- --------------------------------- --------------------------
4. Details of the transaction(s): section to be
repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and
(iv) each place where transactions have been
conducted
--- -------------------------------------------------------------
a) Description of the financial Depositary Interests
instrument, type of instrument: of no par value
Identification code:
AU0000XINEX3
--- --------------------------------- --------------------------
b) Nature of the transaction: Sale of shares
--- --------------------------------- --------------------------
c) Price(s) and volume(s): Sale Price(s) Volume(s)
--------- ----------
35p 1,000,000
--------- ----------
--- --------------------------------- --------------------------
d) Aggregated information: Single transaction as
Aggregated volume: in 4 c) above
Price: Price(s) Volume(s)
--------- ----------
35p 1,000,000
--- --------------------------------- --------------------------
e) Date of the transaction: 19 July 2017
14:30 AEST
--- --------------------------------- --------------------------
f) Place of the transaction: Outside of a trading
venue
--- --------------------------------- --------------------------
For any further information please contact:
IronRidge Resources Limited
Vincent Mascolo (Chief Tel: +61 7 3303
Executive Officer) 0610
Nicholas Mather (Executive Tel: +61 7 3303
Chairman) 0610
SP Angel Corporate Finance Tel: +44 (0)20
LLP 3470 0470
Nominated Adviser and
Broker
Jeff Keating
Caroline Rowe
Yellow Jersey PR Limited Tel: +44 (0)
Charles Goodwin 7544 275882
Harriet Jackson
Notes to Editors:
IronRidge Resources is an AIM listed mineral exploration company
with frontier assets in both Australia and West Africa, with two
province scale projects in Gabon, and promising and advanced
titanium and bauxite projects in Queensland Australia. IronRidge's
corporate strategy is to create and sustain shareholder value
through the discovery of world-class and globally demanded
commodities.
Australia
Monogorilby is prospective for province scale titanium and
bauxite with an initial maiden resource of 54.9MT of premium DSO
bauxite Monogorilby is located in central Queensland, within a
short trucking distance of the rail system leading north to the
Port of Bundaberg. It is also located within close proximity of the
active Queensland Rail network heading south towards the Port of
Brisbane.
May Queen is located in Central Queensland within IRRs wholly
owned Monogorilby license package and is highly prospective for
gold. Historic drilling completed during the 1980s intersected
multiple high-grade gold intervals including 2m @ 73.4 g/t Au
(including 1m at 145g/t), 4m @ 38.8g/t Au (at end of hole) and 3m @
18.9g/t Au, over an approximate 100m strike hosting numerous
parallel vein systems, open to the north-west and south-east.
Wholly owned Quaggy contains highly anomalous platinum,
palladium, nickel, cobalt and copper exploration targets and is
located in Central Queensland within a short trucking distance of
the dormant rail system to the Port of Bundaberg. It is also
located within close proximity of the active Queensland Rail
network heading south towards the Port of Brisbane.
Gabon
Tchibanga is located in south-western Gabon, in the Nyanga
Province, within 10-60km of the Atlantic coastline. This project
comprises two exploration licenses, Tchibanga and Tchibanga Nord,
which cover a combined area of 3,396km(2) and include over 90km of
prospective lithologies and the historic Mont Pele iron
occurrence.
Belinga Sud is Located in the north east of Gabon in the
Ogooue-Ivindo Province, approximately 400km east of the capital
city of Libreville. IRR's licence lies between the main Belinga
Iron Ore Deposit, believed to be one of the world's largest
untapped reserves of iron ore with an estimated 1bt of iron ore at
a grade >60% Fe, and the route of the Trans Gabonese railway,
which currently carries manganese ore and timber from Franceville
to the Port of Owendo in Libreville.
Chad
The Company entered into an agreement with Tekton Minerals Pte
Ltd of Singapore concerning its portfolio covering 1,000km(2) of
highly prospective gold and other mineral projects in Chad, Central
Africa. IronRidge is set to acquire 100% of Tekton including its
projects and team to advance the Dorothe, Echbara, Am Ouchar,
Nabagay and Ade licenses, which host multiple, large scale gold
projects. Initial trenching results at Dorothe, including 14.12g/t
Au over 4m, 34.1g/t over 2m and 63.2g/t over 1m, have defined
significant gold mineralised quartz veining over a confirmed 1km
strike at an average of 2m and up to 5m true width across multiple
stacked vein zones over a 250m wide zone with new hard-rock
artisanal workings potentially extending strike to >3km.
Ghana
The Company entered into conditional joint venture arrangements
with Obotan Minerals Limited, Merlink Resources Limited and Barari
Developments Limited of Ghana, West Africa, securing the first
access rights to acquire the historical Egyasimanku Hill spodumene
rich lithium resource, estimated to be in the order of 1.48Mt at
1.67% Li(2) O and surrounding tenements. The portfolio covers some
314km(2) with a further identified 20km strike of pegmatite vein
swarms, tenure package is also highly prospective for tin,
tantalum, niobium and gold which occur as accessory minerals within
the pegmatites and host formations.
Ivory Coast
The Company entered into conditional joint venture arrangements
in Ivory Coast, West Africa; securing access rights to highly
prospective gold mineralised structures and pegmatite occurrences
covering a combined 3,110km(2) and 400km(2) area respectively. The
projects are well located within access of an extensive bitumen
road network and along strike from multi-million ounce gold
projects and mines.
Corporate
IronRidge made its AIM debut in February 2015, successfully
securing strategic alliances with three international companies;
Assore Limited of South Africa, Sumitomo Corporation of Japan and
DGR Global Limited of Australia. Assore is a high- grade iron,
chrome and manganese mining specialist. Sumitomo Corporation is a
global resources, mining marketing and trading conglomerate. DGR
Global is a project generation and exploration specialist.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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