TIDMIRR
RNS Number : 9527W
IronRidge Resources Limited
16 December 2019
16 December 2019
IronRidge Resources Limited
(AIM: IRR)
Issue of Equities
The Board of IronRidge Resources Limited (IronRidge or the
Company) wishes to advise of the allotment and issue of:
(i) 11,250,000 Director Options as approved by shareholders at
the Company's 29 November 2019 Annual General Meeting. The Director
Options have an exercise price of 25 pence each, and an exercise
period through to 12 December 2021.
(ii) 12,700,000 Employee Options pursuant to the Company's
Employee Share Option Plan, and largely to replace the suite of
Employee Options which lapsed on 22 December 2018. The new Employee
Options have been granted on the same terms as the Director Options
noted above.
(iii) 150,000 fully paid ordinary shares at a price of 10 pence
each, by way of employee remuneration. Application will be made for
the shares to be admitted to trading on AIM and admission is
expected to take place on or around 20 December 2019.
Following the allotment and issue of these securities, the
Company now has on issue of a total of 334,176,741 ordinary
shares.
For any further information, please contact:
IronRidge Resources Limited Tel: +61 (0)7 3303 0610
Vincent Mascolo (Chief Executive Officer)
Karl Schlobohm (Company Secretary)
SP Angel Corporate Finance LLP Tel: +44 (0)20 3470 0470
Nominated Adviser
Jeff Keating
Charlie Bouverat
SI Capital Limited Tel: +44 (0) 1483 413 500
Company Broker Tel: +44 (0) 207 871 4038
Nick Emerson
Jon Levinson
Yellow Jersey PR Limited Tel: +44 (0)20 3004 9512
Harriet Jackson
Dominic Barretto
Emma Becirovic
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: 1. Vincent Mascolo
2. Nicholas Mather
3. Stuart Crow
4. Neil Herbert
5. Alistair McAdam
6. Kieran Daly
7. Tetsunosuke Miyawaki
--------------------------------- -------------------------------------------
2. Reason for the notification
------------------------------------------------------------------------------
a) Position/status: 1. Director and CEO
2. Non-Executive Director
3. Non-Executive Director
4. Non-Executive Chairman
5. Non-Executive Director
6. Non-Executive Director
7. Non-Executive Director
--------------------------------- -------------------------------------------
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 Unlisted options exercisable
instrument, type of instrument: at 25p each, through
Identification code: to 12 December 2021.
ISIN: AU0000XINEX3
--------------------------------- -------------------------------------------
b) Nature of the transaction: Grant of options over
ordinary shares
--------------------------------- -------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
1. 25p 1. 4,500,000
2. 25p 2. 750,000
3. 25p 3. 750,000
4. 25p 4. 3,000,000
5. 25p 5. 750,000
6. 25p 6. 750,000
7. 25p 7. 750,000
-------------------
--------------------------------- -------------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 1. 25p 1. 4,500,000
2. 25p 2. 750,000
3. 25p 3. 750,000
4. 25p 4. 3,000,000
5. 25p 5. 750,000
6. 25p 6. 750,000
7. 25p 7. 750,000
-------------------
--------------------------------- -------------------------------------------
e) Date of the transaction: 16 December 2019
--------------------------------- -------------------------------------------
f) Place of the transaction: Outside of a trading
venue
--------------------------------- -------------------------------------------
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.
Ghana
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% Li2O and surrounding tenements. The
portfolio covers some 684km2 with the newly discovered Ewoyaa
project including drill intersections of 128m @ 1.21% Li2O from 3m
and 111m @ 1.35% Li2O from 37m, and a further identified 20km
strike of pegmatite vein swarms. The tenure package is also highly
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.
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.
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.
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END
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