Director Dealing

RNS Number : 3924V
IronRidge Resources Limited
02 November 2017
 

2 November 2017

 

IronRidge Resources Limited

(AIM: IRR)

Director Dealing

 

The Board of IronRidge Resources Limited (the "Company") has been informed today that Geoffrey Stuart Crow ("Mr Crow"), a non-executive Director of the Company, has sold his 1,500,000 unlisted 10p options in the Company (which expire on 31 December 2017), to Assore Limited for 22.51 pence per option.  Following the sale, Mr Crow holds 750,000 60p options in the Company (which expire on 3 May 2019).

 

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:

Geoffrey Stuart Crow

2.     

Reason for the notification

a)

Position/status:

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 instrument, type of instrument:

Identification code:

Depositary Interests of no par value

 

ISIN: AU0000XINEX3

b)

Nature of the transaction:

Sale of unlisted share options

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

22.51p

1,500,000

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

22.51p

1,500,000

 

e)

Date of the transaction:

2 November 2017

06.00 GMT

f)

Place of the transaction:

Outside of a trading venue

 

 

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement

 

For any further information, please contact:

 

IronRidge Resources Limited

 

Vincent Mascolo (Chief Executive Officer)

Tel: +61 7 3303 0610

Nicholas Mather (Executive Chairman)

Tel: +61 7 3303 0610

 

 

SP Angel Corporate Finance LLP

Tel: +44 (0)20 3470 0470

Nominated Adviser and Broker

 

Jeff Keating

Charlie Bouverat

 

Yellow Jersey

Charles Goodwin

Harriet Jackson

 

 

 

 Tel: +44 (0) 7544 275882

 

Katie Bairsto

 

Notes to Editors:

IronRidge Resources is an AIM listed mineral exploration company with frontier assets in both Australia and West Africa, with two province scale projects in Gabon, and promising and advanced titanium and bauxite projects in Queensland Australia.  IronRidge's corporate strategy is to create and sustain shareholder value through the discovery of world-class and globally demanded commodities.

 

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 IRRs 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.

 

Wholly owned Quaggy contains highly anomalous platinum, palladium, nickel, cobalt and copper exploration targets and is located in Central Queensland within a short trucking distance of the dormant rail system 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.

 

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 3,396km2 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.

 

Chad

The Company entered into an agreement with Tekton Minerals Pte Ltd of Singapore concerning its portfolio covering 1,000km2 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 Ade licenses, which host multiple, large scale gold projects. Initial trenching results at Dorothe, including 14.12g/t Au over 4m, 34.1g/t over 2m and 63.2g/t over 1m, have defined significant gold mineralised quartz veining over a confirmed 1km strike at an average of 2m and up to 5m true width across multiple stacked vein zones over a 250m wide zone with new hard-rock artisanal workings potentially extending strike to >3km.

 

Ghana

The Company entered into earn in arrangements with Obotan Minerals Limited, Merlink Resources Limited and Barari Developments Limited of Ghana, West Africa, securing the first access rights to acquire the historical Egyasimanku Hill spodumene rich lithium resource, estimated to be in the order of 1.48Mt at 1.67% Li2O and surrounding tenements.  The portfolio covers some 314km2 with a further identified 20km strike of pegmatite vein swarms, tenure package is also highly prospective for tin, tantalum, niobium and gold which occur as accessory minerals within the pegmatites and host formations.

 

Ivory Coast

The Company entered into conditional joint venture arrangements in Ivory Coast, West Africa; securing access rights to highly prospective gold mineralised structures and pegmatite occurrences covering a combined 3,110km2 and 400km2 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.

 

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.

 

 


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