TIDMIRR
RNS Number : 4499C
IronRidge Resources Limited
19 October 2020
19 October 2020
IronRidge Resources Limited
(AIM: IRR)
Directors Dealings
The Board of IronRidge Resources Limited (IronRidge or the
Company) wishes to advise of the following Directors Dealings as a
result of off-market transactions which occurred today:
IronRidge Resources Chairman Mr Neil Herbert acquired 200,000
shares at a price of 15p each as a result of an off-market transfer
for a total consideration of GBP30,000.
IronRidge Resources Managing Director Mr Vincent Mascolo
acquired 200,000 shares at a price of 15p each as a result of an
off-market transfer for a total consideration of GBP30,000.
Following the transaction, Messrs Herbert and Mascolo hold the
following interests in the Company's shares:
Director Previous Shares Acquired Current Shareholding Current
Shareholding % Ownership
Neil Herbert 1,677,143 200,000 1,877,143 0.46%
-------------- ---------------- --------------------- -------------
Vincent Mascolo 15,000,000 200,000 15,200,000 4.72%
-------------- ---------------- --------------------- -------------
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM:
ACQUISITION OF ORDINARY SHARES
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: 1. Vincent Mascolo
2. Neil Herbert
--------------------------------- -------------------------------------
2. Reason for the notification
------------------------------------------------------------------------
a) Position/status: 1. Director and CEO
2. Non-Executive Chairman
--------------------------------- -------------------------------------
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 D epositary Interests of
instrument, type of instrument: no par value ( O rdinary
Identification code: Shares)
ISIN: AU0000XINEX3
--------------------------------- -------------------------------------
b) Nature of the transaction: Subscription for Ordinary
Shares
--------------------------------- -------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1. 15p 1. 200,000
2. 15p 2. 200,000
-----------------
--------------------------------- -------------------------------------
d) Aggregated information: Single transaction as in
Aggregated volume: 4 c) above Price(s) Volume(s)
Price: 1. 15p 1. 200,000
2. 15p 2. 200,000
-----------------
--------------------------------- -------------------------------------
e) Date of the transaction: 19 October 2020
--------------------------------- -------------------------------------
f) Place of the transaction: Outside of a trading venue
--------------------------------- -------------------------------------
For any further information please contact:
IronRidge Resources Limited Tel: +61 7 3303 0610
Vincent Mascolo (Chief Executive Officer)
Karl Schlobohm (Company Secretary)
www.ironridgeresources.com.au
SP Angel Corporate Finance LLP Tel: +4 (0)20 3470 0470
Nominated Adviser
Jeff Keating
Charlie Bouverat
SI Capital Limited Tel: +44 (0) 1483 413
Company Broker 500
Nick Emerson Tel: +44 (0) 207 871 4038
Jon Levinson
Yellow Jersey PR Limited Tel: +44 (0)20 3004 9512
Henry Wilkinson
Dominic BarrettoMatthew McHale
Notes to Editors
IronRidge Resources is an AIM-listed, Africa focussed minerals
exploration company with a lithium pegmatite discovery in Ghana,
extensive grassroots gold portfolio in Cote d'Ivoire and a
potential new gold province discovery in Chad. The Company holds
legacy iron ore assets in Gabon and a bauxite resource in
Australia. IronRidge's strategy is to create and sustain
shareholder value through the discovery and development of
significant and globally demanded commodities.
Côte d'Ivoire
The Company entered into conditional earn-in arrangements in
Côte d'Ivoire, West Africa; securing access rights to highly
prospective gold mineralised structures and pegmatite occurrences
covering a combined 3,584km(2) and 1,172km(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. The Company's most advanced project is the
Zaranou gold project which includes high-grade gold drilling
intersections along 8km strike including 6m @ 6.44g/t gold from
132m, 6m @ 15.11g/t gold from 26m, 4m @ 5.16g/t gold from 110m and
22m @ 3.39g/t gold from 8m within a broader 47km long gold
anomalous structure.
Ghana
The Cape Coast Lithium portfolio covers some 684km(2) and
includes the newly discovered Ewoyaa Lithium Project with a maiden
Mineral Resource estimate of 14.5Mt at 1.31% Li(2) O in the
inferred and indicated category including 4.5Mt @ 1.39% Li(2) O in
the indicated category (reported in accordance with the JORC Code).
The Company entered into earn-in arrangements with Obotan Minerals
Limited, Merlink Resources Limited, Barari Developments Limited and
Joy Transporters Limited of Ghana, West Africa, securing the first
access rights to acquire the historical Egyasimanku Hill spodumene
rich lithium deposit, estimated to be in the order of 1.48Mt at
1.67% Li(2) O and surrounding tenements. The tenure package is also
prospective for tin, tantalum, niobium, caesium and gold, which
occur as accessory minerals within the pegmatites and host
formations.
Chad
The Company entered into an agreement with Tekton Minerals Pte
Ltd of Singapore concerning its portfolio covering 900km(2) of
highly prospective gold and other mineral projects in Chad, Central
Africa. IronRidge acquired 100% of Tekton including its projects
and team to advance the Dorothe, Echbara, Am Ouchar, Nabagay and
Kalaka licenses, which host multiple, large scale gold projects.
Trenching results at Dorothe, including 84m @ 1.66g/t Au (including
6m @ 5.49g/t & 8m @ 6.23g/t), 4m @ 18.77g/t Au (including 2m @
36.2g/t), 32m @ 2.02g/t Au (including 18m @ 3.22g/t), 24m @ 2.53g/t
Au (including 6m @ 4.1g/t (including 2m @ 6.2g/t) and 2m @
6.14g/t), 14.12g/t Au over 4m, 34.1g/t over 2m and 63.2g/t over 1m,
have defined significant gold mineralised quartz veining zones over
a 3km by 1km area including the steep dipping 'Main Vein' and
shallow dipping 'Sheeted Vein' zones.
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 IRR's 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.
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.
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHGLBDGGDBDGGC
(END) Dow Jones Newswires
October 19, 2020 02:45 ET (06:45 GMT)
Atlantic Lithium (LSE:ALL)
Historical Stock Chart
From Apr 2024 to May 2024
Atlantic Lithium (LSE:ALL)
Historical Stock Chart
From May 2023 to May 2024