REG - Ironveld PLC - Operational Update & Delay to Accounts Publication

IronveldAnnouncement

23/12/2025 15:45

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RNS Number : 7149M  Ironveld PLC  23 December 2025

23 December 2025

 

 

 

Ironveld PLC

 

Operational Update,

Delay to the publication of FY25 Accounts

and Temporary suspension

 

Ironveld PLC ("Ironveld" or the "Company"), the mining development company
focused on producing high-value strategic metals, is pleased to provide an
operational update on Ironveld's joint-venture DMS-grade magnetite processing
facility in Limpopo, South Africa (the "Plant").  The Company also confirms
that there has been a delay to the preparation of its audited accounts for the
year ended 30 June 2025 ("FY25 Accounts") and the FY25 Accounts will therefore
not be published by 31 December 2025, the deadline under AIM Rule 19.
Consequently, the Company's shares will be temporarily suspended from trading
on AIM as of 7.30 a.m. on 2 January 2026, pending publication of the FY25
Accounts.

 

Operational Update

 

Secured Commercial Milestone: Initial Pre-Paid Trial Order

The Company has secured its first, client pre-paid, trial order for Dense
Media Separation ("DMS") grade magnetite for its joint venture. This initial
commercial transaction, which involves pre-payment prior to collection, is a
critical step in the product qualification process. Successful completion is
intended to lead to a larger 12-month offtake contract with this client.

 

Advanced Offtake Discussions: Major Market Opportunity Progress

Ironveld is pleased to report that discussions with a blue-chip mining house
for DMS grade magnetite have progressed substantially. The prospective partner
has expressed a clear intention to procure a 1,000-tonne trial order in the
first quarter of 2026 ("Q1"). This trial is anticipated to serve as a
precursor to a significant annual offtake agreement, with a potential scale in
the region of ZAR 180 million per annum. While not yet finalised, these
advanced talks demonstrate the strong market demand and validation for the DMS
grade magnetite material.

 

Expanding Sales Pipeline & Product Diversification

The Company, working closely with Daemaneng Minerals (Pty) Ltd ("Daemaneng"),
is engaged in discussions with a number of additional counterparties in
relation to potential contracts for its DMS-grade magnetite and Run-of-Mine
("ROM") unprocessed ore. The ROM product represents a prospective new revenue
stream, with initial revenues from Lapon Mining (Pty) Ltd ("Lapon Mining")
expected to commence in early 2026. The continued expansion of the Company's
sales pipeline reflects increasing market interest and supports the Company's
strategy to diversify its revenue base. The opportunity to sell our ROM
product has advanced to the final stages of negotiation for a trial order of
approximately 25,000 tonnes, which is anticipated to be delivered in early
2026. Subject to the successful completion of this trial and agreement on
final commercial terms, the parties intend to consider a longer-term,
consistent offtake arrangement.

 

Strategic Marketing Partnership to Drive Growth

The Company's operating partner, Daemaneng, is in the final stages of
concluding a strategic marketing agreement with an established German trading
house with a longstanding presence in Southern Africa. The proposed
partnership is intended to leverage the trading house's extensive regional
networks to accelerate commercial development, with a focus on securing new
customers across South Africa, Botswana and other Southern African
jurisdictions. Subject to finalisation, initial business contributions are
anticipated to commence in Q1.

 

The partnership is expected to support an expansion of the planned DMS plant
to accommodate increased throughput, with capacity envisaged to approximately
double relative to the currently planned configuration.

 

In addition, access to Asian end-markets is expected to underpin increased
demand for ROM product, including the potential for regular, vessel-sized
shipments.

 

Operational Readiness: Plant Optimisation on Track / Mining Operations

Concurrently, Daemaneng continues to make steady progress on planned plant
improvements and optimisation initiatives. These works are strategically
focused on ensuring operational reliability and capacity and product quality
align seamlessly with the anticipated demand growth through 2026 and beyond.
Daemaneng has assumed full operational responsibility for the DMS plant
operations as well as Mining Operations at Lapon Mining.

 

Delay to Publication of FY25 Accounts

 

Despite the best efforts of all parties, Ironveld requires further time for
its auditors to complete certain procedures relating to the audit of the
Company's FY25 Accounts, with the delay primarily related to completion of
audit-related procedures in South Africa. The Directors have provided the
information requested to the Company's advisers in South Africa and are
working with its audit advisers to complete the audit process as soon as
possible.

 

The Company anticipates that it will publish the FY25 Accounts during January
2026, following which trading in Ironveld's shares will be restored. A further
announcement will be made in due course.

 

Notwithstanding the temporary suspension of trading in the Company's shares,
Ironveld will continue to make announcements as and when there are any
developments that require to be notified under the AIM Rules for Companies.

 

Kris Andersson, CEO of Ironveld, commented: "This update demonstrates
meaningful momentum across commercial, strategic, and operational fronts. The
secured, pre-paid trial order is our first tangible market validation, and the
advanced discussions for a landmark contract signal the scale of the
opportunity before us.  Daemaneng's new strategic marketing partnership
provides a robust platform for growth. Ironveld remains focused on executing
its strategy to become a significant supplier of high-quality magnetite
products. We will update shareholders on further material developments."

 

 

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.

 

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

 Andrew Thacker / Guy McDougall
 BlytheRay                                               +44 20 7138 3204

 Megan Ray / Sáid Izagaren                               Ironveld@blytheray.com

 

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