4th Feb 2021 12:00
IronRidge Resources Ltd - Africa-focussed minerals exploration company - Completes the acquisition of Joy Transporters Ltd, noting this gives it full ownership of the Saltpond and Cape Coast lithium exploration portfolio in Ghana. The purchase was announced in March 2020, with the consideration being the issue of 2.4 million IronRidge shares at 22.5 pence each for a total of GBP531,007. IronRidge says a 12,500 metre reverse circulation drilling programme currently underway to grow the resource, including exploration drilling of two pegmatite targets within the Saltpond license.
"We are delighted to have completed this significant acquisition. This extensive tenure package is adjacent to the company's flagship Ewoyaa lithium project where, in January, we announced results of a scoping study supporting a business case for a 2.0 million tonnes per annum production operation, producing an average 295,000 tonnes per annum of 6% Li2O spodumene concentrate, with life of mine revenues exceeding USD1.55 billion," says Chief Executive Vincent Mascolo
Current stock price: 23.60 pence
Year-to-date change: up 89%
By Ife Taiwo; [email protected]
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