leadf
logo-loader
viewIronRidge Resources Ltd
(
AIM:IRRFRA:BSG
)

IronRidge Resources taking big strides with gold and lithium projects

Snapshot

  • IronRidge reports best drill intersection to date at Ewoyaa lithium project in Ghana
  • IronRidge wipes out funding risk while retaining significant interest in Ewoyaa
  • IronRidge Resources has 'best in class' lithium project, says broker
  • Mining Capital says IronRidge Resources' Piedmont Lithium deal is 'win win for everyone concerned'
Elephant

Quick facts: IronRidge Resources Ltd

Follow
AIM:IRR

Price: 20.3 GBX

Market Cap: £116.47 m

About the company

IronRidge Resources is an African focused, diversified minerals exploration company that creates shareholder value through the discovery, development and monetisation of mineral projects through African operational, exploration and studies expertise, large-scale contiguous tenure positions and an emphasis on geological and/or jurisdictional frontier provinces.

The company has recently made significant discoveries in the lithium and gold exploration sectors.

IronRidge's corporate strategy is to create and sustain shareholder value through the discovery of world-class and globally demanded commodities.

How it is doing

14 Sep 2021

IronRidge Resources Ltd (AIM:IRR, FRA:BSG) has announced final high-grade lithium pegmatite drill intersections at new targets adjacent to the Ewoyaa lithium project in Ghana.

The company has already defined a mineral resource estimate of 14.5mln tonnes at 1.31% lithium oxide (Li2O) in the inferred and indicated category at Ewoyaa, including 4.5mln tonnes at 1.39% Li2O in the indicated category.

The company said its final resource expansion drill programme at Ewoyaa returned the highest metal content intersection (lithium grade multiplied by meters) to date of 53 metres (m) at 1.34% Li2O from 80m in hole GRC0392.

Additional high-grade lithium pegmatite intersections were reported in reverse circulation (RC) drilling results at the Ewoyaa North and the Grasscutter targets adjacent to Ewoyaa, it said.

31 Aug 2021

IronRidge Resources Ltd (AIM:IRR, FRA:BSG) has completed a transaction with Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:) that will allow the financing of development at the Ewoyaa lithium project in Ghana.

Piedmont will fully fund and fast track development of Ewoyaa for US$102mln, as conditions precedent to the binding agreement have now been met.

26 Jul 2021

Two key board members of IronRidge Resources Ltd (AIM:IRR, FRA:BSG) have committed to remaining with the company for a further two years, each with an option for two years on top of that.

Chief executive Vincent Mascolo and chief operating officer Len Kolff have both played key roles in bringing the company to the stage where it is set to transition from explorer to producer.

Insight: IronRidge wipes out funding risk while retaining significant interest in Ewoyaa

01 Jul 2021

It’s not often in the junior mining sector that you see a funding deal quite as attractive as the one just buttoned up by IronRidge Resources Ltd (LON:IRR) for its Ewoyaa lithium project in Ghana.

The IronRidge team, to be sure, know what they are doing.

What the brokers say

08 Sep 2021

IronRidge Resources Limited has one of the most promising lithium projects in development, according to Liberum, which has kick-started coverage with a 'buy' recommendation and 32p target price.

Ewoyaa, a spodumene lithium project in Ghana, is best in class in terms of opex and capex, said the house broker.

Output from the mine would also be among the greenest available (hydropower, no chemicals, existing infrastructure, near the port).

What management says

02 Jul 2021

Mining Capital's Alastair Ford gives his view on the deal struck up between IronRidge Resources Ltd's (LON:IRR) and Piedmont Lithium Inc., a Nasdaq-listed lithium exploration and development company, who will fully fund and fast track the Ewoyaa lithium project in Ghana for US$102mln.

Under the agreement, Piedmont can earn 50% of IronRidge's Cape Coast Lithium Portfolio (CCLP), which includes the Ewoyaa project, in three stages.

Ford says 'the supply and demand for Lithium is looking increasingly favourable, it's a beautiful position to be in'.

Proactive Research

23 Jun 2021

IronRidge Resources Ltd (LON:IRR) has announced its intention to demerge its gold assets located in both the Côte d'Ivoire and Chad into a new gold focused entity, which we have labelled NewGoldCo.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

FTSE 100 starts the shortened trading week flat

FTSE 100 was going nowhere at the start of trading even though US markets hit new record highs overnight. London’s blue-chip index was almost unchanged at 7,148 in early dealings. GlaxoSmithKline has started phase III trials of a Covid-19 vaccine that will test itself against rival...

2 weeks, 5 days ago

4 min read