TIDMIRR
RNS Number : 3557Y
IronRidge Resources Limited
12 May 2021
12 May 2021
IronRidge Resources Limited
(AIM: IRR)
Directors Dealings, Issue of Equity and Issued Share Capital
Correction
IronRidge Resources Limited ("IronRidge" or the "Company")
wishes to advise that in the Company's RNS of 6 May 2021 released
at 3.45pm (RNS Number 7537X) the total issued share capital of the
Company had been incorrectly stated as 514,474,334 Ordinary Shares
of no par value each in the Company ("Ordinary Shares") rather than
the correct issued share capital figure of 513,474,334 Ordinary
Shares .
Additionally, the Board wishes to advise of the allotment and
issue of 900,000 Ordinary Shares at a price of 12 pence per share
as a result of the exercise of unlisted employment options.
Application will be made for the 900,000 Ordinary Shares to be
admitted to trading on AIM and admission is expected to take place
on or around 19 May 2021 ("Admission").
On Admission of the 900,000 Ordinary Shares to trading, the
issued share capital of the Company will comprise 514,374,334
Ordinary Shares. When calculating voting rights, shareholders
should use this figure as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company.
In addition, the Board of IronRidge 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 150,000
shares at a price of 20p each as a result of an off-market transfer
for a total consideration of GBP30,000.
IronRidge Resources Managing Director Mr Vincent Mascolo
acquired 150,000 shares at a price of 20p each as a result of an
off-market transfer for a total consideration of GBP30,000.
Following the transactions, Messrs Herbert and Mascolo hold the
following interests in the Company's shares:
Director Previous Shares Acquired Current Shareholding Current
Shareholding % Ownership
Neil Herbert 2,315,715 150,000 2,465,715 0.48%
-------------- ---------------- --------------------- -------------
Vincent Mascolo 15,800,000 150,000 15,950,000 3.10%
-------------- ---------------- --------------------- -------------
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: acquisition of Ordinary
Shares
--------------------------------- -------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1. 20p 1. 150,000
2. 20p 2. 150,000
-----------------
--------------------------------- -------------------------------------
d) Aggregated information: Single transaction as in
Aggregated volume: 4 c) above Price(s) Volume(s)
Price: 1. 20p 1. 150,000
2. 20p 2. 150,000
-----------------
--------------------------------- -------------------------------------
e) Date of the transaction: 12 May 2021
--------------------------------- -------------------------------------
f) Place of the transaction: Outside of a trading venue
--------------------------------- -------------------------------------
For any further information please contact:
IronRidge Resources Limited Tel: +61 2 8072 0640
Vincent Mascolo (Chief Executive Officer)
Amanda Harsas (Company Secretary)
www.ironridgeresources.com.au
SP Angel Corporate Finance LLP Tel: +44 (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 Côte 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 at 6.44g/t gold from
132m, 6m at 15.11g/t gold from 26m, 4m at 5.16g/t gold from 110m
and 22m at 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).
A Scoping Study on the Ewoyaa Lithium Project, announced in January
2021, supports a business case for a 2.0 Million tonnes per annum
production operation, producing an average 295,000tpa of 6% Li(2) O
spodumene concentrate, with life of mine revenues exceeding US$1.55
Billion. 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 746km(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 at 1.66g/t Au
(including 6m at 5.49g/t & 8m at 6.23g/t), 4m at 18.77g/t Au
(including 2m at 36.2g/t), 32m at 2.02g/t Au (including 18m at
3.22g/t), 24m at 2.53g/t Au (including 6m at 4.1g/t (including 2m
at 6.2g/t) and 2m at 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.
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.
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END
IOEGRGDUSUBDGBD
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May 12, 2021 03:58 ET (07:58 GMT)
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