Proactive Mining analyst Ryan Long presents his latest research on IronRidge Resources Ltd (LON:IRR). The firm has recently 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.
Ironridge will continue to advance its lithium portfolio, which includes the Ewoyaa Project, located in Ghana. While NewGoldCo will be listed on a recognised stock exchange and will have its own board and management.
Existing shareholders in IronRidge will still benefit from any upside resulting from the advancement of the gold projects by NewGoldCo through either a retained holding in NewGoldCo by IronRidge or by an in specie dividend of the shares in NewGoldCo to existing shareholders.