REG - Ironveld PLC - Commencement of work at Smelter site

IronveldAnnouncement

11/08/2022 07:00

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RNS Number : 6161V  Ironveld PLC  11 August 2022

Ironveld plc

Commencement of work at Smelter site

Ironveld plc ("Ironveld" or the "Company") is delighted to announce that,
following successful completion of the recent placing to raise gross proceeds
of £4.5 million, its team of specialist contractors has now commenced work at
the FCF Smelter site in Rustenburg, South Africa.

The focus in the initial weeks will be site clean-up and security, as well as
water, electrical and gas supply servicing and safety checks. In addition,
mechanical, electrical and structural compliance checks and statutory
certification will be completed. Following this, the planned refurbishment and
upgrades across the facility, which will allow the first of the three furnaces
to commence production, will be undertaken.  The planned refurbishment will
take six to nine months, as previously announced by the Company.

Final contracts for completion of the acquisition are progressing well.
Ironveld has been permitted by the Business Rescue Practitioners (Tayfin
Forensic and Investigative Auditors) and the sole creditor to gain access to
the smelter facility at this early stage in order to progress with the
refurbishment as time efficiently as possible.

 

**ENDS**

For further information, please contact:

 Ironveld plc                              c/o BlytheRay

 Giles Clarke, Chairman                    +44 20 7138 3204

 Martin Eales, Chief Executive Officer

 finnCap (Nomad and Joint Broker)          +44 20 7220 0500

 Christopher Raggett / Charlie Beeson

 Turner Pope (Joint Broker)                +44 20 3657 0050

 James Pope/Andrew Thacker

 BlytheRay                                 +44 20 7138 3204

 Tim Blythe / Megan Ray

 

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