6th Jun 2024 19:59
Ironveld PLC - South Africa-focused mining company - Provides update regarding discussions with South Africa-based external funding partner on a direct institutional funding transaction, originally expected to close in the first half of 2024. Says has received a communication which suggests that the finance package potentially available may be substantially reduced from that original envisaged and that the formal offer of funding remains subject to further due diligence. In addition, following the recent South African elections, it is anticipated all strategic investments will await new policy decisions from decision makers yet to be appointed. Accordingly, the timeframe for securing the funding could be extended by up to four months. In light of these developments, evaluates the impacts and assesses options to address the situation.
Current stock price: 0.055 pence, down 26% in London on Thursday
12-month change: down 84%
By Jeremy Cutler, Alliance News reporter
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