TIDMIRR
RNS Number : 1786E
IronRidge Resources Limited
04 May 2017
4 May 2017
IronRidge Resources Limited
(AIM: IRR)
Issue of Equity
The Board of IronRidge Resources Limited (IronRidge or the
Company) wishes to advise of the allotment and issue of 688,966
Ordinary Shares in satisfaction of employment related bonuses,
following the approvals provided by the Company's shareholders at
last week's Extraordinary General Meeting.
Application will be made for the shares to be admitted to
trading on AIM and admission is expected to take place on Tuesday 9
May 2017.
Following the allotment and issue of these securities, the
Company now has in issue a total of 238,912,391 ordinary
shares.
For Further Information:
IronRidge Resources Limited
Vincent Mascolo (Chief Executive Tel: +61 7 3303 0610
Officer)
Nicholas Mather (Executive Chairman) Tel: +61 7 3303 0610
SP Angel Corporate Finance LLP Tel: +44 (0)20 3470
0470
Nominated Adviser and Broker
Jeff Keating
Caroline Rowe
Yellow Jersey PR Limited Tel: +44(0)7768 537
Financial PR 739
Dominic Barretto
Harriet Jackson
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: Nick Mather
--- --------------------------------- ----------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------------
a) Position/status: 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
Ltd
--- --------------------------------- ----------------------------------------
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: Issue of equity
as settlement
of performance
related bonuses
--- --------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
------------- ----------
AUS $ 0.199 239,926
------------- ----------
--- --------------------------------- ----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ---------- ----------
AUS $
0.199 449,040
--- --------------------------------- ----------------------------------------
e) Date of the transaction: 3 May 2017
18.00 pm GMT
--- --------------------------------- ----------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
--- ---------------------------------------------------------------------------
a) Name: Vincent Mascolo
--- --------------------------------- ----------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------------
a) Position/status: Chief Executive
Officer
--- --------------------------------- ----------------------------------------
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
Ltd
--- --------------------------------- ----------------------------------------
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: Issue of equity
as settlement
of performance
related bonuses
--- --------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
------------- ----------
AUS $ 0.246 449,040
------------- ----------
--- --------------------------------- ----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ---------- ----------
AUS $
0.246 449,040
--- --------------------------------- ----------------------------------------
e) Date of the transaction: 3 May 2017
18:00 pm GMT
--- --------------------------------- ----------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ----------------------------------------
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 1,400km(2) of
highly prospective gold and other mineral projects in Chad, Central
Africa. Under the terms of the agreement, IronRidge currently owns
6% and will acquire a total of 60% of Tekton, including its
projects and team, to advance the Dorothe, Echbara and Am Ouchar
licenses, which host multiple, potentially nation-building 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 up to 200m wide 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
IOELIFFTEVISIID
(END) Dow Jones Newswires
May 04, 2017 04:27 ET (08:27 GMT)
Atlantic Lithium (LSE:ALL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Atlantic Lithium (LSE:ALL)
Historical Stock Chart
From Apr 2023 to Apr 2024