REG - Ironveld PLC - Acquisition Unconditional

IronveldAnnouncement

29/03/2023 10:00

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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                            c/o BlytheRay

 Martin Eales, Chief Executive Officer   020 7138 3204

 finnCap (Nomad and Broker)              020 7220 0500

 Christopher Raggett

 Charlie Beeson

 Turner Pope (Joint Broker)              020 3657 0050

 Andy Thacker

 James Pope

 BlytheRay                               020 7138 3204

 Megan Ray

 Tim Blythe

 

 

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 (http://www.ironveld.com) .

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