Vincent Mascolo, IronRidge CEO (IRR) outlined his demerger plans and took live questions at last night's London South East Natural Resources evening. Vincent quickly ran through how the Lithium assets at Ewoyaa in Ghana would remain with a new company to be called Atlantic Lithium, and the gold assets in Cote d'Ivoire and Chad will be demerged into a company called Ricca Resources. There will be be no cross share holdings between these two entities. Ricca is a private company and will be listed on an Exchange in 2022 explained Vincent.

IronRidge has made three major discoveries in three years, with the Lithium Project in Ghana the most advanced. Piedmont Lithium is to fully fund the Ghana Lithium project to production for $102M.

The reason for the demerger and rebranding is because the board felt that its portfolio was not realising its true value in the current structure.

The AGM to approve the restructuring is on 18 November.