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Ironveld (IRON) Share News

IN BRIEF: Ironveld inks funding deal, CEO steps down

23rd Feb 2024 21:40

Ironveld PLC - South Africa-focused mining company - Receives non-binding term sheet from a South Africa-based financial institution regarding asset-level financing of mining and smelting activities at its high-purity iron, vanadium and titanium project. Says funding would allow it to invest in all planned operations, including transition to production of high-purity iron powders. Transaction is however subject to further due diligence, with no certainty that it will be concluded. Read More

IN BRIEF: Ironveld agrees two loan facilities worth GBP375,000

2nd Feb 2024 15:25

Ironveld PLC - South Africa-focused mining company - Enters into loan facility agreements with Tracarta Ltd, in which Ironveld Executive Chair John Wardle has a beneficial interest in. The deals entail Ironveld being able to draw down GBP375,000, with GBP250,000 via a 12-month extension of an existing agreement with Tricarta at an interest rate of 11% per year, plus a new GBP125,000 facility with a six-month term and an 11% interest rate with a 2.5% fee. Says the funding will be used to strengthen its working capital position. As previously notified, says it remains in discussions regarding a direct institutional funding transaction, which is currently expected to close in the first of 2024. If concluded, says it will enable Ironveld to invest in "all group operations, including transition to production of high purity iron powders." Read More

UK shareholder meetings calendar - next 7 days

3rd Jan 2024 14:55

Ironveld generates revenue but shares tumble down as loss widens

20th Dec 2023 14:26

(Alliance News) - Ironveld PLC on Wednesday announced a widened loss but some operational progress in its latest year. Read More

UK shareholder meetings calendar - next 7 days

6th Nov 2023 15:17

IN BRIEF: Ironveld furnace operations start; enters loan facility deal

18th Sep 2023 12:20

Ironveld PLC - South Africa-focused mining company - Says its newly installed power generation at its Rustenburg facility in South Africa is now supplying two furnaces, following a slight delay over the summer. Says final works and commissioning of the third planned furnace at the smelter had been put on hold as a result, but is now expected to start in October. Adds its operating expenditure has been higher than anticipated as a result, and has thus entered into a working capital loan facility agreement with Tracarta Ltd. Says it consists of a maximum of GBP500,000 to "provide the company with flexibility in meeting ongoing operating costs over the coming months." Read More

IN BRIEF: Ironveld amends structure of DMS Magnetite operation

1st Sep 2023 18:48

Ironveld PLC - South Africa-focused mining company - Confirms that subsidiary, Ironveld Mining (Pty) Ltd, and its joint venture partner, Pace SA Pty Ltd, have agreed with a subsidiary of JSE-listed Sable Exploration and Mining Ltd certain amendments to the funding and operational structure of the DMS Magnetite operation currently being established at Ironveld's mining area. The new structure retains Ironveld's ability to supply ore into the JV and benefit from a share of positive cashflows without having to fund the initial capital expenditure. The parties have now agreed that SEAM, via a subsidiary company Sable Platinum Holdings (Pty) Ltd, will advance all necessary funding of around GBP650,000 for the establishment of an initial quick start 10,000 tonnes per month capacity plant. There will also be an option to fund future expansions in capacity, depending on the success of the venture. Read More

IN BRIEF: Ironveld achieves first sales from Rustenberg smelter

28th Jun 2023 10:10

Ironveld PLC - South Africa-focused mining company - Achieves first sales of metal products from its Rustenburg smelter during June 2023, as planned. Says products sold include high-purity iron and the entirety of titanium slag produced so far this year, all to local buyers. Reiterates announcement in mid-May that the Rustenburg smelter will operate with two furnaces in July, with the third operating furnace due to be brought on stream at the end of July. As a result, says this would represent full planned operating capacity. Read More

IN BRIEF: Ironveld promotes Malebo Ratlhagane to deputy CFO

5th Jun 2023 11:16

Ironveld PLC - South Africa-focused mining company - Appoints Malebo Ratlhagane as deputy chief financial officer with immediate effect. Says Brian James, who has worked with Ironveld since 2012, will take on role as acting group CFO in a non-board capacity to provide "support and mentorship" during the transition. Ratlhagane has been Ironveld's head of finance in South Africa since 2022, while James is currently UK head of finance and company secretary. Read More

Ironveld inks deal with Burnstar for green hydrogen

12th May 2023 10:52

(Alliance News) - Ironveld PLC said on Friday its subsidiary Ironveld Energy Ltd signed an agreement with Burnstar Technologies Pty Ltd to produce green energy. Read More

Ironveld to use green hyrdogen produced by BurnStar LNG technology

3rd Apr 2023 14:30

(Alliance News) - Ironveld PLC said on Monday its subsidiary, Ironveld Energy Ltd has signed a letter of intent with BurnStar Technologies Pty Ltd to produce green hydrogen. Read More

EARNINGS UPDATES: Ironveld sees interim pretax loss widen on costs

30th Mar 2023 18:39

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More

IN BRIEF: Ironveld says acquisition of Ferrochrome now unconditional

29th Mar 2023 14:28

Ironveld PLC - South Africa-focused exploration and development company - Says that the acquisition of Ferrochrome Furnace Ltd by its subsidiary Ironveld Smelting Ltd is now unconditional in all respects. Ferrochrome will, in accordance with the Companies Act of South Africa, be taken out of Business Rescue in the coming days and the transaction will close in accordance with its terms. Read More

UK shareholder meetings calendar - next 7 days

6th Mar 2023 15:45

IN BRIEF: Ironveld Director Wardle buys GBP15.8 million in shares

1st Mar 2023 21:32

Ironveld PLC - South Africa-focused exploration and development company - Non-Executive Director John Wardle buys 50.0 million shares in the company at a price of 0.3150 pence per share for a total of GBP15.8 million on Tuesday. Says Wardle holds a 9.1% stake in the company following this transaction. Read More

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