TIDMIRR
RNS Number : 7784Z
IronRidge Resources Limited
19 December 2017
19 December 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 4,900,000
fully paid ordinary shares as a result of the exercise of unlisted
employment options originally granted in 2014.
Application will be made for the shares to be admitted to
trading on AIM and admission is expected to take place on or around
27 December 2017.
The allotment includes the Company's Chairman Nicholas Mather
and Managing Director Vincent Mascolo. The revised holdings of the
Company's Directors are outlined below.
Directors Previous Share Share % of Enlarged
Share Holding Allotment Holding Issued Share
following Capital
exercise on Admission
of options of new shares
to trading
-------------------- --------------- ----------- ------------ ---------------
Nicholas Mather 1,697,992 1,500,000 3,197,992 1.14%
-------------------- --------------- ----------- ------------ ---------------
Vincent Mascolo 8,900,000 3,000,000 11,900,000 4.24%
-------------------- --------------- ----------- ------------ ---------------
Stuart Crow - - - -
-------------------- --------------- ----------- ------------ ---------------
Neil Herbert - - - -
-------------------- --------------- ----------- ------------ ---------------
Bastiaan Hendrikus - - - -
van Aswegen
-------------------- --------------- ----------- ------------ ---------------
Alistair McAdam - - - -
-------------------- --------------- ----------- ------------ ---------------
Kenichiro Tsubaki - - - -
-------------------- --------------- ----------- ------------ ---------------
Balance of Company 265,318,166 400,000 265,718,166 94.62%
-------------------- --------------- ----------- ------------ ---------------
TOTAL 275,916,158 4,900,000 280,816,158 100%
-------------------- --------------- ----------- ------------ ---------------
Following the allotment and issue of these securities, the
Company now has on issue a total of 280,816,158 ordinary
shares.
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 ordinary shares
as a result of the
exercise of unlisted
options granted in
2014.
--- --------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
GBP 0.10 1,500,000
---------- ----------
--- --------------------------------- ----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ---------- ----------
GBP 0.10 1,500,000
--- --------------------------------- ----------------------------------------
e) Date of the transaction: 19 December 2017
18.00pm 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 ordinary shares
as a result of the
exercise of unlisted
options granted in
2014.
--- --------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
---------- ----------
GBP 0.10 3,000,000
---------- ----------
--- --------------------------------- ----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ---------- ----------
GBP 0.10 3,000,000
--- --------------------------------- ----------------------------------------
e) Date of the transaction: 19 December 2017
18:00 pm GMT
--- --------------------------------- ----------------------------------------
f) Place of the transaction: Outside 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
Charlie Bouverat
Yellow Jersey PR Limited Tel: +44 (0)
Julia Kalcheva 7544 275882
Harriet Jackson
Katie Bairsto
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 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.
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 acquired 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 earn-in 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.
Côte d'Ivoire
The Company entered into conditional joint venture arrangements
in Côte d'Ivoire, 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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