Board Changes

RNS Number : 6533T

IronRidge Resources Limited

31 March 2016

 

31 March 2016

IronRidge Resources Limited

(AIM: IRR)

Board Change

The Board of IronRidge Resources Limited ("IronRidge" or the "Company") today announces the retirement and replacement of Mr Thomas Ueda with the appointment of Mr Kenichiro Tsubaki ("Ken Tsubaki") as Non-Executive Director to the Board of the Company with immediate effect. 

Mr Tsubaki, who has to date acted as the Alternate for Mr Ueda, now formally joins the Board as part of the Company's strategic alliance with Sumitomo Corporation ("Sumitomo") and brings to IronRidge a wealth of expertise to the strategic development, marketing, operational and corporate development of the Company's assets.  

Mr Tsubaki is currently the 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.

Commenting, CEO Vincent Mascolo said: "The Directors of the Company would like to extend their sincere thanks to Mr Thomas Ueda for his contribution to date, and welcome Mr Ken Tsubaki to the Board at a compelling time in the Company's history."

Mr Tsubaki (age 47) has not held any directorships or partnerships in the last five years.

There is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies.

For Further Information:

IronRidge Resources Limited
Vincent Mascolo (Chief Executive Officer)	Tel: [phone]
Nicholas Mather (Executive Chairman)	Tel: [phone]
SP Angel Corporate Finance LLP	Tel: [phone]
Nominated Adviser and Broker
Jeff Keating Tercel Moore Yellow Jersey PR Limited Financial PR Dominic Barretto	Tel: [phone]

Notes to Editors:

IronRidge Resources is an AIM listed mineral exploration company with frontier assets in both Australia and West Africa, with two province scale projects in Gabon, and promising and advanced titanium and bauxite projects in Queensland Australia.  IronRidge's corporate strategy is to create and sustain shareholder value through the discovery of world-class and globally demanded commodities.

Tchibanga:

Located in south-western Gabon, in the Nyanga Province, within 10-60km of the Atlantic coastline.  This project comprises two exploration licenses, Tchibanga and Tchibanga Nord, which cover a combined area of 3,396km² and include over 90km of prospective lithologies and the historic Mont Pele iron occurrence.

Belinga Sud:

Located in the north east of Gabon in the Ogooue-Ivindo Province, approximately 400km east of the capital city of Libreville.  IRR's licence lies between the main Belinga Iron Ore Deposit, believed to be one of the world's largest untapped reserves of iron ore with an estimated 1bt of iron ore at a grade >60% Fe, and the route of the Trans Gabonese railway, which currently carries manganese ore and timber from Franceville to the Port of Owendo in Libreville.

Australia:

Monogorilby is prospective for province scale titania and bauxite whilst Quaggy has shown strong anomalies of platinum palladium nickel cobalt and copper.  Monogorilby is located in central Queensland, within a short trucking distance of the dormant rail system leading north to the Port of Bundaberg.  It is also located within close proximity of the active Queensland Rail network heading south towards the Port of Brisbane.

Corporate:

IronRidge made its AIM debut in February 2015 successfully securing strategic alliances with three international companies; Assore Limited of South Africa, Sumitomo Corporation of Japan and DGR Global Limited of Australia.  Assore is a high- grade iron, chrome and magnesium mining specialist.  Sumitomo Corporation is a global resources, mining marketing and trading conglomerate.  DGR Global is a project generation and exploration specialist.

The Board of Directors is represented by mining industry professionals with a broad range of corporate, exploration, production, contracting and capital markets experience.  The Company was admitted on 12 February 2015 (Ticker Code IRR) and currently has 236,612,203 shares and 14,770,000 unlisted options on issue.

 

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