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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."

Current stock price: 0.30 pence, down 2.5%

12-month change: up 6.3%

By Sabrina Penty, Alliance News reporter

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