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IronRidge Resources to acquire Ghana lithium assets

"We are delighted to have completed this significant acquisition ahead of schedule," said Vincent Mascolo.

IronRidge Resources Ltd - IronRidge Resources to acquire Ghana lithium assets

IronRidge Resources Ltd (LON:IRR) has agreed a deal to buy Joy Transporters Ltd to gain full ownership of a highly prospective lithium exploration portfolio in Ghana.

The assets, known as the Saltpond and Cape Coast portfolio, comprises low-cost regional exploration activities, and, is located with “ideal” infrastructure support.

"We are delighted to have completed this significant acquisition ahead of schedule and at a significant premium to IronRidge's current share price,” said Vincent Mascolo, IronRidge chief executive.

READ: IronRidge acquires new gold licences in Côte d'Ivoire

"The acquisitions are part of our strategic plan in the region providing valuable synergies with the IronRidge team and its growth strategy of creating and sustaining shareholder value through the discovery of fundamentally robust lithium projects.

"The board is very pleased with the outright acquisitions and looks forward to keeping shareholders and investors updated with exploration progress."

IronRidge is acquiring Joy Transporters in return for 2.36mln shares priced at 22.5p each.

Quick facts: IronRidge Resources Ltd

Price: 13.7 GBX

AIM:IRR
Market: AIM
Market Cap: £56.42 m
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