TIDMIRR
RNS Number : 3261O
IronRidge Resources Limited
07 October 2021
07 October 2021
Corporate Update
APPLICATION FOR SHARE TRADING ON THE OTCQX MARKET
IronRidge targeting North American investors
IronRidge Resources Limited (AIM: IRR, "IronRidge" or the
"Company") is pleased to announce that it has filed an application
for the Company to trade on the OTC Market's OTCQX Best Market
("OTCQX") trading platform in the USA, which will make IronRidge's
shares more widely available to North American investors.
The Company has identified a supporting broker and market maker
and is completing the necessary regulatory documentation and
application materials for submission to the OTC Market's compliance
group.
Trading on the OTC QX market will have no impact on the trading
of IronRidge 's existing ordinary shares on AIM and no new ordinary
shares will be issued as part of the cross-trade facility.
IronRidge will continue to adhere to all regulatory requirements
relating to its listing on the AIM market of the London Stock
Exchange and will have no Sarbanes-Oxley or SEC reporting
requirements.
The OTCQX is in the top tier of OTC markets and lists companies,
including blue-chip level companies, which are not listed on
traditional exchanges in the USA. Companies listed on the OTCQX
market have to follow certain rules and criteria and are subject to
their home market regulation, in this instance the AIM market of
the London Stock Exchange plc in the U.K.
The Company believes that listing on the OTCQX Market, under the
ticker symbol "IRRLF", is a natural step forward to address global
Lithium interest and will potentially provide enhanced investor
benefits, including easier access in the United States, and greater
liquidity.
Commenting, Vincent Mascolo, Chief Executive Officer of
IronRidge, said:
" Following our recent landmark partnership with Piedmont
Lithium Inc., which will fully fund the Company's standout Ewoyaa
Lithium Project in Ghana to production for US$102m , coupled with
President Joe Biden 's comments concerning the importance of
Lithium, we have started a process of inter-listing the Company's
shares in New York on the OTC Market's OTCQX trading platform which
is a natural and beneficial step for the Company and all
shareholders. The Board looks forward to updating shareholders on
progress in this respect in due course."
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
For any further information, please contact:
IronRidge Resources Limited Tel: +61 2 8072 0640
Vincent Mascolo (Chief Executive Officer)
Amanda Harsas (Company Secretary)
www.ironridgeresources.com.au
SP Angel Corporate Finance LLP Tel: +44 (0)20 3470 0470
Nominated Adviser
Jeff Keating
Charlie Bouverat
Canaccord Genuity Limited Tel: +44 (0) 20 7523 4500
Joint Company Broker
Raj Khatri
James Asensio
Harry Rees
Liberum Capital Limited Tel: +44 (0) 20 3100 2000
Joint Company Broker
Scott Matheson
Edward Thomas
Kane Collings
SI Capital Limited Tel: +44 (0) 1483 413
Joint Company Broker 500
Nick Emerson Tel: +44 (0) 207 871 4038
Jon Levinson
Yellow Jersey PR Limited Tel: +44 (0)20 3004 9512
Henry Wilkinson
Dominic BarrettoMatthew McHale
Notes to Editors:
About IronRidge
www.ironridgeresources.com.au
IronRidge Resources is an AIM-listed, Africa focused minerals
exploration company with a significant lithium pegmatite discovery
in Ghana, extensive gold portfolios in Côte d'Ivoire and a
potential new gold province discovery in Chad. As announced on 1
June 2021, IronRidge intends to demerge its suite of gold assets
into a separate listed entity. As announced on 31 August 2021,
Piedmont Lithium to fully fund the Ewoyaa lithium project in
Ghana.
Ghana
The Cape Coast Lithium portfolio covers some 684km(2) and
includes the newly discovered Ewoyaa Lithium Project with a maiden
Mineral Resource estimate of 14.5Mt at 1.31% Li(2) O in the
inferred and indicated category including 4.5Mt at 1.39% Li(2) O in
the indicated category (reported in accordance with the JORC Code)
. The Company entered into earn-in arrangements with Obotan
Minerals Limited, Merlink Resources Limited, Barari Developments
Limited and Joy Transporters Limited of Ghana, West Africa,
securing the first access rights to acquire the historical
Egyasimanku Hill spodumene rich lithium deposit, estimated to be in
the order of 1.48Mt at 1.67% Li(2) O and surrounding tenements. The
tenure package is also prospective for tin, tantalum, niobium,
caesium and gold, which occur as accessory minerals within the
pegmatites and host formations.
Côte d'Ivoire
The Company entered into conditional earn-in arrangements in
Côte d'Ivoire, West Africa; securing access rights to highly
prospective gold mineralised structures and pegmatite occurrences
covering a combined 3,982km2 and 774km2 area respectively. The
projects are well located within access of an extensive bitumen
road network and along strike from multi-million-ounce gold
projects and mines. The Company's most advanced project is the
Zaranou gold project which includes high-grade gold drilling
intersections along 8km strike including 6m at 6.44g/t gold from
132m, 6m at 15.11g/t gold from 26m, 4m at 5.16g/t gold from 110m
and 22m at 3.39g/t gold from 8m within a broader 47km long gold
anomalous structure.
Chad
The Company's Tekton Minerals Pte Ltd of Singapore holds an
extensive portfolio covering 746km(2) of highly prospective gold
and other mineral projects in Chad, Central Africa. IronRidge
acquired 100% of Tekton including its projects and team to advance
the Dorothe, Echbara, Am Ouchar, Nabagay and Kalaka licenses, which
host multiple, large scale gold projects. Trenching results at
Dorothe, including 84m at 1.66g/t Au (including 6m at 5.49g/t &
8m at 6.23g/t), 4m at 18.77g/t Au (including 2m at 36.2g/t), 32m at
2.02g/t Au (including 18m at 3.22g/t), 24m at 2.53g/t Au (including
6m at 4.1g/t (including 2m at 6.2g/t) and 2m at 6.14g/t), 14.12g/t
Au over 4m, 34.1g/t over 2m and 63.2g/t over 1m, have defined
significant gold mineralised quartz veining zones over a 3km by 1km
area including the steep dipping 'Main Vein' and shallow dipping
'Sheeted Vein' zones.
Corporate
IronRidge made its AIM debut in February 2015, successfully
securing strategic alliances with three international companies;
Assore Limited of South Africa, Sumitomo Corporation of Japan and
DGR Global Limited of Australia. Assore is a high-grade iron,
chrome and manganese mining specialist. Sumitomo Corporation is a
global resources, mining marketing and trading conglomerate. DGR
Global is a project generation and exploration specialist.
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October 07, 2021 02:00 ET (06:00 GMT)
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