IronRidge Resources taking big strides with gold and lithium projects

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  • IronRidge and Piedmont complete on agreement for development of Ewoyaa
  • IronRidge wipes out funding risk while retaining significant interest in Ewoyaa
  • IronRidge Resources has ‘best in class’ lithium project, says broker
  • Mining Capital says IronRidge Resources’ Piedmont Lithium deal is ‘win win for everyone concerned’
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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.

31 Aug 2021

(, ) has completed a transaction with (, , ) that will allow the financing of development at the Ewoyaa lithium project in Ghana.

Piedmont will fully fund and fast track development of Ewoyaa for US$102mln, as conditions precedent to the binding agreement have now been met.

Piedmont has committed a further GBP720,000 and has increased its stake in IronRidge to 9.91% via the placing of a further 2.88mln shares at 25p.

As a result of the transaction, Ghana is likely to become the first West African lithium-producing country.

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26 Jul 2021

Two key board members of (, ) have committed to remaining with the company for a further two years, each with an option for two years on top of that.

Chief executive Vincent Mascolo and chief operating officer Len Kolff have both played key roles in bringing the company to the stage where it is set to transition from explorer to producer.

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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.

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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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08 Sep 2021

IronRidge Resources Limited has one of the most promising lithium projects in development, according to Liberum, which has kick-started coverage with a ‘buy’ recommendation and 32p target price.

Ewoyaa, a spodumene lithium project in Ghana, is best in class in terms of opex and capex, said the house broker.

Output from the mine would also be among the greenest available (hydropower, no chemicals, existing infrastructure, near the port).

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02 Jul 2021

Mining Capital’s Alastair Ford gives his view on the deal struck up between ‘s () and ., a Nasdaq-listed lithium exploration and development company, who will 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.

Ford says ‘the supply and demand for Lithium is looking increasingly favourable, it’s a beautiful position to be in’.

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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