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.

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

IOEGRBDDSBBBGCL

(END) Dow Jones Newswires

December 16, 2019 02:18 ET (07:18 GMT)

Grafico Azioni Atlantic Lithium (LSE:ALL)
Storico
Da Feb 2024 a Mar 2024 Clicca qui per i Grafici di Atlantic Lithium
Grafico Azioni Atlantic Lithium (LSE:ALL)
Storico
Da Mar 2023 a Mar 2024 Clicca qui per i Grafici di Atlantic Lithium