Acquisition Unconditional

RNS Number : 6019U

Ironveld PLC

29 March 2023

 

Ironveld Plc

("Ironveld" or the "Company")

Acquisition Unconditional

Ironveld announces that the acquisition of Ferrochrome Furnaces (Pty) Ltd ("FCF") by its subsidiary Ironveld Smelting (Pty) Ltd is now unconditional in all respects.  FCF will, in accordance with the Companies Act of South Africa, be taken out of Business Rescue in the coming days and the transaction will close in accordance with its terms.

For further information, please contact:

Ironveld plc Martin Eales, Chief Executive Officer	c/o BlytheRay 020 7138 3204
finnCap (Nomad and Broker) Christopher Raggett Charlie Beeson	020 7220 0500
Turner Pope (Joint Broker) Andy Thacker James Pope	020 3657 0050
BlytheRay Megan Ray Tim Blythe	020 7138 3204

NOTES TO EDITORS

Ironveld (IRON.LN) is the owner of Mining Rights over approximately 28 kilometres of outcropping Bushveld magnetite with a SAMREC compliant ore resource of some 56 million tons of ore grading 1,12% V2O5, 68,6% Fe2O3 and 14,7% TiO2.

In 2022 Ironveld agreed to acquire and refurbish a smelter facility in Rustenburg, South Africa, in which it can process its magnetite ore into the marketable products of high purity iron, titanium slag and vanadium slag.

Ironveld is an AIM traded company. For further information on Ironveld please refer to www.ironveld.com .

 

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