Ironveld PLC Update on Strategic Review (6293I)
August 12 2019 - 1:00AM
UK Regulatory
TIDMIRON
RNS Number : 6293I
Ironveld PLC
12 August 2019
12 August 2019
IRONVELD PLC
("Ironveld" or the "Company")
Update on Strategic Review
Ironveld plc, the owner of a High Purity Iron ("HPI"), vanadium
and titanium project located on the Northern Limb of the Bushveld
Complex in Limpopo Province, South Africa, is pleased to announce
that as part of the strategic review of its mining assets announced
on 2 July 2019, the Company has entered into confidentiality
agreements with several parties interested in potentially making an
offer to purchase all or part of the Company's assets. Ironveld is
currently in the process of providing such parties with further
information on the Company's assets and access to the Company's
site, management and advisers.
The Company is encouraged by the level of interest it has
received to date and looks forward to working with interested
parties to further the strategic review.
Further interested parties are encouraged to read the research
report available at https://researchlibrary.finncap.com/User/Login
that sets out the potential for the Company's assets to become a
vertically integrated vanadium mining and processing business, as
well as review the Company website (www.ironveld.com/). Such
parties should also contact finnCap through the details set out at
the bottom of this announcement.
For further information, please contact:
Ironveld plc c/o Camarco
Giles Clarke, Chairman +4420 3757 4980
Peter Cox, Chief Executive
finnCap (Financial Adviser)
Christopher Raggett / Hannah Boros +4420 7220 0500
Shore Capital (Nominated Adviser and Broker)
Jerry Keen / Toby Gibbs +4420 7408 4090
Camarco
Gordon Poole / Kimberley Taylor / Thayson Pinedo +4420 3757 4980
About Ironveld
Ironveld (IRON.LN) is the owner of a High Purity Iron, Vanadium
and Titanium project located on the Northern Limb of the Bushveld
Complex in Limpopo Province South Africa. Ironveld expects to mine
its own VTM ore as feedstock for a 7.5 MW DC smelter which will
produce speciality iron products including high purity iron powder
as well as vanadium and titanium slag products.
The Definitive Feasibility Study published in April 2014
confirms the project's viability to deliver an exceptionally high
grade iron product (99.5% Fe) called High Purity Iron which
commands a premium in the market place. Vanadium and Titanium slag
containing commercial grades of vanadium and titanium will also be
produced and sold.
About finnCap
finnCap Ltd, is acting for the Company in relation to the
matters described in this announcement and is not advising any
other person, and accordingly will not be responsible to anyone
other than the Company for providing the protections afforded to
clients of the Company or for providing advice in relation to the
matters described in this announcement.
About Shore Capital and Corporate Limited and Shore Capital
Stockbrokers Limited
Shore Capital and Corporate Limited and Shore Capital
Stockbrokers Limited (together "Shore Capital"), which are
regulated in the United Kingdom by The Financial Conduct Authority,
are acting for the Company in relation to the matters described in
this announcement and are not advising any other person, and
accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of the
Company or for providing advice in relation to the matters
described in this announcement.
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities whether pursuant to this
announcement or otherwise.
The distribution of this announcement in jurisdictions outside
the United Kingdom may be restricted by law and therefore persons
into whose possession this announcement comes should inform
themselves about, and observe, such restrictions. Any failure to
comply with the restrictions may constitute a violation of the
securities law of any such jurisdiction.
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.
END
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