REG - Ironveld PLC - £900k Placing to Ramp Up Production

IronveldAnnouncement

11/06/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250611:nRSK2946Ma&default-theme=true

RNS Number : 2946M  Ironveld PLC  11 June 2025

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

11 June 2025

Ironveld PLC

("Ironveld" or the "Company")

£900k Placing to Ramp Up Production

 

Ironveld plc (AIM: IRON), the mining development company focused on producing
high-value strategic metals, is pleased to announce that it has raised
£900,000 before expenses through a placing with investors (the "Placing") of
2,000,000,000 ordinary shares of 0.01p each ("Ordinary Shares") at a price of
0.045 pence per share (the "Placing Price"), as further detailed below. The
Placing was arranged through the Company's joint broker, Turner Pope
Investments (TPI) Ltd ("TPI").

 

 

Ironveld CEO, Kris Andersson, commented:

"Market demand for our DMS-grade magnetite both from within the South Africa
market and from nearby export countries is exceeding our current processing
capacity. We are therefore looking to ramp up processing capacity through the
acquisition of an additional larger mill and associated equipment. In
addition, demand is also emerging for unprocessed Run of Mine ore, requiring
investment in preparation for meeting demand. The placing attracted very
strong interest and was significantly oversubscribed, reflecting the continued
confidence and support of our shareholders. We are sincerely grateful for this
backing and thank them for their ongoing commitment to the Company."

 

Placing Details

The Placing comprises a placing of 2,000,000,000 new Ordinary Shares ("New
Ordinary Shares") at a price of 0.045 pence per share conditional only on
admission to trading on AIM ("Admission"), which represents a discount of
4.25% to the closing bid-price on 10 June 2025 (being the last practicable
date prior to this announcement).

 

The New Ordinary Shares represent approximately 12.6% of the Company's issued
ordinary share capital as enlarged by the Placing and the Fee Shares (defined
below) and together with the Broker Warrants (as described below) would
represent approximately 13.2% of the diluted issued share capital (as enlarged
by the Placing, Fee Shares and Broker Warrants).

 

The New Ordinary Shares are being issued under the Company's existing share
issue authorities.

 

TPI is acting as broker and placing agent to the Company. Under the terms of
its engagement, conditional upon Admission, JIM Nominees Limited, as nominee
for TPI, will be issued with 88,888,889 Ordinary Shares at the Placing Price
in settlement of its broking fees (the "Fee Shares") and will also be issued
with 200,000,000 broker warrants, entitling the holder to subscribe for one
new Ordinary share at the Placing Price at any time within five years from the
date of Admission (the "Broker Warrants").

 

Use of Proceeds

The funds raised from the Placing will provide the Company with working
capital and funds necessary to finance:

·    a second, larger ball mill and associated equipment to increase
throughput capacity

·    procurement and commissioning of a drying plant to meet bulk client
moisture specifications

·    infrastructure to support bulk delivery logistics, complementing
current bagged product operations

evaluation of additional power generation, including back up power generation
as well as potentially a partial solar-based energy solution, to ensure
reliable and sustainable energy back up supply.

 

Ironveld Technical Director, Peter Cox, commented:

"By directing investment into key infrastructure upgrades and mining
operations, we are positioning ourselves to meet both the volume and quality
requirements of larger offtakers. The development of our DMS processing plant
and associated mining activities is progressing in line with our expectations,
and we remain focused on increasing both production capacity and operational
efficiency in the near term."

 

Admission to Trading

Application will be made for the 2,088,888,889 New Ordinary Shares, which will
rank pari passu in all respects with the existing Ordinary Shares of the
Company, to be admitted to AIM, which is expected to occur at 8am on or around
17 June 2025.

 

Total Voting Rights

Upon Admission, the total number of issued Ordinary Shares and the total
number of voting rights in the Company will be 15,830,978,237. The Company
does not hold any Ordinary Shares in Treasury.

Therefore, the above figure may be used by shareholders in the Company as the
denominator for the calculation by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

 

For further information, please contact:

 

 Ironveld plc                                            c/o BlytheRay

 Kristoffer Andersson, Chief Executive Officer           +44 20 7138 3204

 Cavendish Capital Markets Limited (Nomad and Broker)    +44 20 7220 0500

 Derrick Lee / Adam Rae

 Turner Pope Investments (TPI) Ltd (Joint Broker)        +44 20 3657 0050

 Andrew Thacker / James Pope

 BlytheRay                                               +44 20 7138 3204

 Tim Blythe / Megan Ray

 

 

Cautionary statement on forward-looking statements and related information

This announcement may include projections and other "forward-looking"
statements within the meaning of applicable securities laws. Any such
projections or statements reflect the current views of the Company about
future events and financial performance. The use of any of the words "expect",
"anticipate", "continue", "will", "should", "believe", "plans", "intends", and
similar expressions are intended to identify forward-looking information or
statements. Although the Company believes that the expectations and
assumptions on which such forward-looking statements and information are
reasonable, undue reliance should not be placed on the forward-looking
statements and information because the Company can give no assurance that such
statements and information will prove to be correct. Since forward-looking
statements and information address future events and conditions, by their very
nature they involve inherent risks and uncertainties.

 

The forward-looking statements and information contained in this announcement
are made as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise, unless so
required by applicable securities laws.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFZGMVMGKGKZZ