IronRidge Resources taking big strides with gold and lithium projects

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  • IronRidge Resources says Piedmont Lithium will fund and fast track Ewoyaa lithium project
  • IronRidge wipes out funding risk while retaining significant interest in Ewoyaa
  • IronRidge Resources’ says ‘if we continue to hit impressive results, we’ll just keep on expanding’
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Quick facts: IronRidge Resources Ltd

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IronRidge Resources is an African focused, diversified minerals exploration company that creates shareholder value through the discovery, development and monetisation of mineral projects through African operational, exploration and studies expertise, large-scale contiguous tenure positions and an emphasis on geological and/or jurisdictional frontier provinces.

The company has recently made significant discoveries in the lithium and gold exploration sectors.

IronRidge’s corporate strategy is to create and sustain shareholder value through the discovery of world-class and globally demanded commodities.

01 Jul 2021

() said ., a Nasdaq-listed lithium exploration and development company, has agreed to fully fund and fast track the Ewoyaa lithium project in Ghana for US$102mln.

Under the agreement, Piedmont can earn 50% of IronRidge’s Cape Coast Lithium Portfolio (CCLP), which includes the Ewoyaa project, in three stages.

Piedmont will subscribe to 54.0mln shares in IronRidge at 20p per share, totalling GBP10.8mln (US$15mln) and giving it a 9.5% stake in IronRidge.

It can then earn up to an initial 22.5% of CCLP after spending US$5mln on an exploration programme to enhance the current Ewoyaa resource and US$12mln on completing Definitive Feasibility Studies.

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01 Jun 2021

() said it plans to demerge its gold assets in Cote d’Ivoire and Chad into a separate gold-focused listed company and hopes that this restructuring will unlock further value in its Cape Coast lithium portfolio.

Following a strategic portfolio review, the board of IronRidge concluded that the Cape Coast lithium portfolio was “materially undervalued” in the company’s current structure and required a distinct, separate focus to release its true value and that the creation of a new gold-focused company, in a robust gold market, was the best way to realise further value for shareholders.

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25 May 2021

() has hit additional broad and high-grade lithium pegmatite drill intersections at new targets adjacent to the Ewoyaa lithium project in Ghana.

At Ewoyaa IronRidge has already defined a resource 14.5mln tonnes grading 1.31% lithium oxide (Li2O) in the inferred and indicated category, including 4.5mln tonnes at 1.39% Li2O in the indicated category.

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01 Jul 2021

It’s not often in the junior mining sector that you see a funding deal quite as attractive as the one just buttoned up by () for its Ewoyaa lithium project in Ghana.

The IronRidge team, to be sure, know what they are doing.

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21 Apr 2021

IronRidge Resources Limited’s () Vincent Mascolo talks to Proactive London’s Katie Pilbeam about increasing the scale of their ongoing phase four drilling programme at the Ewoyaa Lithium Project, located in Ghana, following positive initial results.

Mascolo says ‘if we continue to hit more impressive results, we’ll just keep on expanding and drilling’.

The latest results have encouraged the company to increase the size of this phase four drilling programme by 32% to 16,600 metres (m) from 12,500 m, previously.

23 Jun 2021

() has announced its intention to demerge its gold assets located in both the Cote d’Ivoire and Chad into a new gold focused entity, which we have labelled NewGoldCo.

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