Proactive Investors - Run By Investors For Investors

IronRidge Resources secures £5.4mln of new funding for exciting gold an lithium assets in Ghana, Chad and Côte d'Ivoire

The funding round has the backing of the company’s major investors
core sample
The results from its exploration have been impressive - the company wants to keep momentum going into 2019

IronRidge Resources Ltd (LON:IRR) has secured £5.4mln to fund the continued the advances being made with its pipeline of gold and lithium projects in Ghana, Chad and Côte d'Ivoire.

The shares will be placed a 20p each, a modest discount to Wednesday’s closing price. The funding round has the backing of the company’s major investors.

WATCH: IronRidge 'has the foundations set' with two significant discoveries in the last year

Chief executive Vincent Mascolo said significant on-the-ground progress had been made in 2018 that required follow-up.

“Most notably, the Ghanaian Cape Coast Lithium Project has continued to deliver exciting and potentially world class lithium grades and drill intersections, whilst in Chad, we have uncovered a substantial gold bearing province with a surface footprint rivalling some of today's largest operating gold mines,” he added.

In Cote d'Ivoire, IronRidge has uncovered extensive, highly prospective and “strategically contiguous” gold and lithium producing portfolios along major gold producing structural trends.

"The capital raise… will enable the director's to execute their strategy to further develop the Company's highly prospective gold and lithium assets.”

View full IRR profile View Profile

Ironridge Resources Ltd Timeline

Related Articles

January 31 2019
Last year’s pre-feasibility study demonstrated the project’s large scale, long life and low-cost lithium production.
June 13 2018
Lac Guéret Extensions is adjacent to one of the highest grade graphite projects in the world
Lithium brine evaporation ponds at Rincon project
April 09 2019
The company’s lithium hydroxide exceeded battery-grade standard in lab tests and may provide a complementary production strategy.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use