Ferrex plc, the AIM quoted iron ore and manganese development company focused in Africa, announces that pursuant to the conditional placing of ordinary shares of 0.5 pence per share ("Ordinary Shares") as notified on 20 July 2012 (the "Placing"), application has been made for the admission to trading on AIM of 24,444,446 Ordinary Shares, being the second tranche of Ordinary Shares to be issued in respect of the Placing, which is expected to effective from 10 October 2012.
Ferrex plc is an AIM quoted exploration and development company focused on advancing low capex iron ore and manganese projects in Africa through the development cycle and into production. Our current property portfolio comprises iron ore (Malelane) and manganese (Leinster) projects in South Africa and a manganese project (Nayega) in Togo, all of which offer the potential for significant near-term value uplift.
The Company's growth strategy is centred on advancing its current assets, utilising its Board and management team's considerable experience in developing resource projects across Africa and expanding its portfolio through acquisitions to build Ferrex into a mid-tier, low-cost producer of iron ore and manganese.
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