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EPIC: IRR
Market: AIM
52-week High/Low: 48.00p / 12.00p
Sector: Mining
Market Cap: 84.60M
Ironridge Resources Limited

Ironridge Resources Limited

Led by a proven and experienced team, IronRidge Resources Limited is an AIM listed (Epic:IRR) Company focused on the discovery and development of world-class and globally-demanded commodities. The Company has frontier assets in Australia and Africa with two province scale projects in Gabon, and promising and advanced titanium and bauxite projects in Queensland, Australia.

Projects in Gabon include Belinga Sud, Tchibanga and Tchibanga Nord, which are all strategically located and have confirmed DSO high-grade material. Belinga Sud is directly adjacent to a known non-JORC resource currently being upgraded to JORC compliance by the Gabonese government, whilst the Tchinbanga projects are located approximately <70km from the proposed deep water port of Mayumba.

Ironridge Resources Limited

www.ironridgeresources.com.au

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Big picture - Why invest in Ironridge Resources Limited


Ironridge Resources Limited Snapshot

IronRidge Overview
 
IronRidge Resources was admitted on the London Stock Exchange (AIM code:IRR)
 
 
IronRidge is headed up by experienced and committed mining industry professionals with demonstrable track records of mineral discovery and providing valuable shareholder return.
 
 
The Board of Directors include accomplished professionals with experience in exploration, mine development, investment and finance. The Board and Management have significant vested interests in the Company, holding approximately 7.0% of its issued share capital. The Company currently has 236,612,203 shares on issue. 
 
 
IronRidge has Exploration tenements in Gabon, West Africa, and Queensland, Australia. Select our Project Areas tab for more detailed information. 
 
 
Audit Committee
 
The Group has established an Audit Committee which comprises Stuart Crow, Neil Herbert and Alistair McAdam. Stuart Crow and Neil Herbert being independent non-executive memebers of the Board, with Stuart Crow appointed as chairman. The Audit Committee's main functions include, inter alia, reviewing and monitoring internal financial control systems and risk management systems on which the Group is reliant, considering annual and itnerin accounts and audit reports, making recommendations to the Board in relation to the appointment and remuneration of the Group's auditors and monitoring and reviewing annually their independence, objectivity and qualifications.
 
 
Remuneration Committee
 
The Group has established a Remuneration Committee, which comprises Nick Mather, Neil Herbert and Alistair McAdam, is chaired by Neil Herbert, and meets as often as required to enable the Remuneration Committee to fulfil its obligations to the Group, The Remuneration Committee will be responsible for reviewing the performance of the Chairman and the executive directors adn for setting the scale and structure of their remuneration, paying due regard to the interests of Shareholders as a whole and the performance of the Group. The Remuneration Committee will also approve the design of and determine targets for any performance-related pay schemes operated by the Group.
 
 
Nominations  Committee
 
The Group has established a Remuneration Committee, which comprises Nick Mather, Bastiaan Hendrikus van Aswegen and Vincent Mascolo, is chaired by Bastiaan Hendrikus van Aswegen, and meets when required. The Nominations Committee will consider the selection and re-appointment of Board members. it wil identify and norminate candidates to fill Board vacancies and review regularly the structure, size and composition (including the skills, knowledge and exprience) of the Board and make recommendations to the Board with regard to any changes.

Pioneering Province Scale Asset Protfolio

The Company has secured a diverse portfolio of quality exploration and advance development assets throughout the World with a particular focus on Africa. A top down ‘in-house’ review of commodity, jurisdiction, geology and prospectivity in conjunction with creative thought process and rapid commercial decision making has helped identify and secure World-class, potential tier-one exploration assets. Core to the decision making process is identifying ‘Province’ scale projects with the potential to deliver tier-one discoveries within poorly explored ‘yellow-light’ jurisdictions.
The Company has secured a diverse multi-commodity portfolio including:

Gold and associated minerals in Chad; first mover advantage within a poorly explored yet highly prospective frontier ‘Province scale’ portfolio

Lithium bearing pegmatites and associated minerals in Ghana and Ivory Coast; highly fertile fractionated granitic source rocks within mining friendly yet underexplored jurisdictions

Gold, bauxite, titanium and nickel in Australia; exciting new discoveries in novel settings within a world-class mining jurisdiction

Iron ore in Gabon; exploring Province scale iron ore opportunities within trucking distance to coast and amongst iron ore giants

The Company believes this is the pathway to the next round of World-class discoveries and continues to assess new opportunities.

Chad - New Gold Frontier

The Company has secured a landmark partnership and exclusive access rights to Province scale gold discoveries in Chad, Central Africa, including:

Licenses covering 1,400km2 of gold mineralized geological structures in the Saharan Metacraton

Potential analogue of gold-rich Birimian Greenstone belts of West Africa

Little or no modern-day exploration and largely forgotten due to historical oil focus

First mover advantage with several highly prospective, province-scale, gold mineralised belts

Additional untested lithium, kilometre scale graphite, base metal and uranium targets within the license package

Tekton has secured exploration rights over 1,400km2 of gold mineralised, province-scale geological structures emplaced in potential gold-bearing equivalents of the gold-rich Birimian Greenstone belts of Ghana, Senegal, Mali, Cote d’Ivoire and Burkina Faso in the Ouaddaï Province of the Saharan Metacraton. Work to date indicates the potential for several multi-million ounce gold discoveries within the Ouaddaï Province alone.

Access to the project area is via a sealed and well maintained 900km bitumen toll road from the capital city N’Djamena to Abéché, followed by a 200km maintained laterite road to the project area. Travel time from N’Djamena to the project area is approximately 15 hours by road. International air carriers Air France, Royal Air Maroc, Turkish Airlines and Ethiopian Airline provide frequent travel into N’Djamena and the project area is serviced by charter flights and UN aircraft into Goz Beïda taking approximately 2 hours.

For more information, please click here

Ghana & Ivory Coast - Lithium

Ghana and Ivory Coast represent strong, pro-mining jurisdictions with proven mining investment track records by both the majors and juniors alike.

Ghana has a long and rich mining legacy stretching back to the pre-colonial era. Exploration and mining investment frameworks are very commercial:

Reconnaissance Licence  - 1 year and renewal for a further 1 year

Prospecting Licences - 3 years and 2 x 3 year extensions.

Mining licenses  - Up to 30 year term and renewable for a further 30 year term

State Carried Interest – 10% free carry with up to 15% contributing

10-year tax holiday

35% Corporate tax rate

3% to 6% royalty

Commercial terms negotiable

Ivory Coast represents an exciting, re-discovered mining destination with a rich and diversified economy and a pro-mining investment framework:

Exploration Permits – 4 years and 2 x 3year extensions with ¼ relinquishment

Mining Permits - Granted for life of mine,  up to 20 year term and renewable in further 10 year allotments

State Carried Interest - 10% free carry and up to 15% contributing

25% Corporate tax rate

Ad valorem sliding scale royalties 

Commercial terms negotiable

 

Gabon - Iron Ore

Gabon hosts varied geological formations and is ideally suited to iron ore exploration; with prospective geological formations across broad timescales, proven world-class iron ore deposits and functioning heavy haul rail and port infrastructure suited for bulk commodities.

The Company's exploration licenses cover 3,953km2 over geological settings suitable for the discovery of potential world-class DSO hematite deposits in both Archean/Palaeoproterozoic ‘Itabirite’ type settings and much younger Neoproterozoic ‘Cold-Climate’ type deposits.

Tchibanga Project located within younger, Neoproterozoic sediments; potential analogue Corumba Mine (890Mt @ 63% Fe DSO) in Brazil

Belinga Sud Project hosted within older, Archean/Palaeoproterozic aged formations in typical ‘Itabirite’ (metamorphosed and re-crystallised BIFs) type deposit setting

Belinga Sud directly along strike from Belinga deposit (860 Mt @ 63% Fe, non JORC)

Gabon – Demonstrated Pro Mining Jurisdiction

Gabon represents a pro-mining jurisdiction and is currently the 3rd largest producer and exporter of manganese ore. Gabon has also been an oil producer and exporter over the last 4 decades with the majors Shell and Total active. Gabon’s mining regime is characterised by:

- Transparent mining and exploration regime

- Low political, sovereign and social risks

- Gabonese Government proactively diversifying export revenues away from oil

- Established and stable manganese mining history dating back to 1960’s

- Excellent infrastructure; heavy haul rail and extensive bitumen roads and functioning ports

For more information, please click here

For information on the Australia - Gold, Bauxite, Titanium & Nickel project, please click here

 

 

Executive Chairperson - Mr Nicholas Mather

Nicholas Mather graduated in 1979 from the University of Queensland with a B.Sc. (Hons, Geology). He has 25 years' experience in exploration and resource company management in a variety of countries. His career has taken him to numerous countries exploring for precious and base metals and fossil fuels. Nicholas Mather has focused his attention on the identification of and investment in large resource exploration projects. He was managing director of BeMaX Resources NL (an ASX-listed company) from 1997 until 2000 and instrumental in the discovery of the world class Ginkgo mineral sand deposit in the Murray Basin in 1998.

As an executive director of Arrow Energy NL (also ASX-listed) until his resignation in 2004, Nicholas Mather drove the acquisition and business development of Arrow's large Surat Basin Coal Bed Methane project in south-east Queensland. He was managing director of Auralia Resources NL, a junior gold explorer, before its USD23 million merger with Ross Mining NL in 1995. He was a non-executive director of Ballarat Goldfields NL until 2004, having assisted that company in its recapitalisation and requotation on the ASX in 2003. He was also founder and Chairman of TSX-V listed Waratah Coal Inc until its $130m takeover by Minerology Pty Ltd in December 2008.

Nicholas Mather is Chief Executive of ASX-listed DGR Global Limited and is on Boards of the following ASX-listed Companies:

*Armour Energy Ltd - Executive Chairman

*Dark Horse Resources Ltd - Chairman

*Aus Tin Mining Ltd - Executive Director

*Lakes Oil NL - Non-Executive Director

Chief Executive Officer - Mr Vincent Mascolo

Mr. Mascolo was appointed on 30 September 2002. Mr. Mascolo is a qualified mining engineer with extensive experience in a variety of fields including gold and coal mining, quarrying and civil-works. Mr. Mascolo has completed assignments in the Civil and Construction Industry, including construction and project management, engineering, quality control and environment and safety management.

Mr. Mascolo is a member of both the Australian Institute of Mining and Metallurgy and the Institute of Engineers of Australia.

Mr Mascolo also resides on the board of ASX listed DGR Global Limited.

Non-Executive Director - Mr Stuart Crow

Mr Crow has more than 25 years experience in all aspects of corporate finance and investor relations in Australia and international markets, and has owned and operated his own businesses in these areas for the last twelve years. He brings extensive working knowledge of capital markets to the Board.

Mr Crow is also a Non-Executive Director of ASX listed TNG Limited.

Non-Executive Director - Mr Neil Herbert

Mr. Herbert is a Fellow of the Association of Chartered Certified Accountants and has over 23 years of experience in finance. Mr. Herbert has been involved in growing mining and oil and gas companies, both as an executive and an investment manager, for over 16 years and, until May 2013, was Co-Chairman and Managing Director of AIM quoted Polo Resources Limited, a natural resources Investment Company. Prior to this, he was a director of resource investment company Galahad Gold plc from which he became Finance Director of its most successful investment, start-up uranium company UraMin Inc. from 2005 to 2007, during which period he worked to float the company on AIM and the Toronto Stock Exchange in 2006, raise c.US$400 million in equity financing and negotiate the sale of the group for US$2.5 billion. Mr Herbert has also held board positions at a number of resource companies where he has been involved in managing numerous acquisitions, disposals, stock market listings and fundraisings. Mr Herbert holds a Joint Honours Degree in Economics and Economic History from the University of Leicester.

Non-Executive Directors (Assore)  - Mr Bastiaan Hendrikus van Aswegen

Tiaan obtained a BEng (Metallurgical) degree from the University of Pretoria (UP) in 1982 and later obtained BCom (Unisa) and MEng (UP) degrees. After working for Lscor and Samancor in production and on projects, he was appointed by Samancor as General Manager of the Palmiet Ferrochrome Operation (Mogale) in 1999. He joined Assore in 2003 as Consulting Metallurgist and is a memeber of the Assmang Operations Committee. In September 2012 he was appointed Group Technical and Operations Director of Assore and a director of Assmang.

Experience:

*A total of 28 years in the mining and ferro-alloy production industry

*Started his career in the smelting/ferro-alloy industry (10 years)

*General Manager of Palmiet Ferrochrome

*Consulting Metallurgist for the Assore Group, involved in iron ore, manganese and chrome ore mining as well as ferro-chrome and ferro- manganese smelting

*Executive Director of Assore Limited responsible for the business, technical and operational strategy of the Assore Groups and Assmang Limited

Non-Executive Directors (Assore)  - Mr Alistair McAdam

Alistair obtained a BSC(Hons) Metallurgy degree from the University of Newcastle upon Tyne in 1981, and subsequently an MBA from the University of the Witwatersrand in 1991. After joining the JCI group in 1981 he operated in the production area of smelting in the platinum division before coming into the head office environment in 1988 to work on project evaluation in both the platinum and gold divisions. After completing his MBA, he then transferred to the chrome division, operating as the sales manager until the division was sold to Sudelektra (subsequently Xstrata and then Glencore). Alistair joined Ore & Metal in 2000 as the chrome sales manager. in August 2013 he was appointed Group Manager - New Business. His Area of expertise includes sales and marketing, General Business, Strategy and Business development.

Non-Executive Directors (Sumitomo)  - Mr Kenichiro Tsubaki

Mr Tsubaki joins the Board as part of the Company’s strategic alliance with Sumitomo Corporation and brings to IronRidge a wealth of expertise in the strategic development, marketing, operational and corporate development of the Company’s Gabonese iron ore assets.

Mr Tsubaki is currently Head of Sumitomo’s Iron & Steel Making Raw Materials Department Tokyo.

Prior to this appointment Mr Tsubaki has held several key roles with Sumitomo Corporation including the Division Manager for Sumitomo South Africa.

Level 27, 111 Eagle Street

Brisbane QLD 4001

Ph: +61 7 3303 0610

Email: [email protected]

Nominated Advisor

SP Angel Corporate Finance LLP

Prince Frederick House,

35-37 Maddox Street, 

London W1S 2PP

United Kingdom

 

Broker

SP Angel Corporate Finance LLP

Prince Frederick House,

35-37 Maddox Street, 

London W1S 2PP

United Kingdom

 

Australian Solicitors

Hopgood Ganim

Level 8, Waterfront Place

1 Eagle Street

Brisbane QLD 4000

Australia

 

London Laywers

Locke Lord LLP

201 Bishopsgate

London EC2M 3AB

United Kingdom

 

Gabonese Lawyer

Business Consulting Gabon

Ancien Sobraga, Face entrée Clinique union médicale

Rez-de-chaussée Immeuble de l'imprimerie

BP 20 211

Libreville Gabon

 

Security Registrar

Computershare Investor 

Services plc

The Pavilions

Bridgwater Road

Bristol BS99 7NH

United Kingdom

 

Auditors

BDO

2 City Place

Beehive Ring Road

Gatwick

West Sussex RH6 0PA

United Kingdom

 

Bankers

Macquarie Bank Ltd

Brisbane Branch

300 Queen Street

Brisbane QLD 4000

Australia

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