Ironveld agrees to GBP125,000 working capital loan facility
(Alliance News) - Ironveld PLC on Wednesday said it had entered into an additional loan facility agreement with Tracarta Ltd.
Read moreThu, 30th Dec 2021 15:21
(Alliance News) - Ironveld PLC on Wednesday said it had entered into an additional loan facility agreement with Tracarta Ltd.
Read more(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News:
Read moreIronveld PLC - South Africa-focused mining company - Receives non-binding term sheet from a South Africa-based financial institution regarding asset-level financing of mining and smelting activities at its high-purity iron, vanadium and titanium project. Says funding would allow it to invest in all planned operations, including transition to production of high-purity iron powders. Transaction is however subject to further due diligence, with no certainty that it will be concluded.
Read moreIronveld PLC - South Africa-focused mining company - Enters into loan facility agreements with Tracarta Ltd, in which Ironveld Executive Chair John Wardle has a beneficial interest in. The deals entail Ironveld being able to draw down GBP375,000, with GBP250,000 via a 12-month extension of an existing agreement with Tricarta at an interest rate of 11% per year, plus a new GBP125,000 facility with a six-month term and an 11% interest rate with a 2.5% fee. Says the funding will be used to strengthen its working capital position. As previously notified, says it remains in discussions regarding a direct institutional funding transaction, which is currently expected to close in the first of 2024. If concluded, says it will enable Ironveld to invest in "all group operations, including transition to production of high purity iron powders."
Read moreThursday 4 January | |
Rotala PLC | GM re management buyout |
Tintra PLC | GM re cancellation, re-registering as private company |
ValiRx PLC | GM re operational review |
Friday 5 January | |
MTI Wireless Edge Ltd | EGM re proposed grant of options to the directors |
Monday 8 January | |
Plus500 Ltd | EGM re director election |
Velocys PLC | Court Meeting and GM re recommended cash acquisition by Madison Bidco Ltd |
Tuesday 9 January | |
Agriterra Ltd | AGM |
DX Group PLC | GM re acquisition by HIG Capital funds |
GENinCode PLC | GM re fundraise |
Leeds Group PLC | GM re sale of subsidiary Hemmers-Itex |
Smart Metering Systems PLC | GM re acquisition by KKR funds |
Wednesday 10 January | |
Hummingbird Resources PLC | GM re share placement |
Ironveld PLC | AGM |
Reabold Resources PLC | GM re appointment of new directors |
Safestyle UK PLC | EGM re approve winding up of company |
Scirocco Energy PLC | GM re proposed disposal of interests in Energy Acquisitions Group Ltd |
Versarien PLC | GM re capital reorganisation |
Copyright 2024 Alliance News Ltd. All Rights Reserved. |
(Alliance News) - Ironveld PLC on Wednesday announced a widened loss but some operational progress in its latest year.
Read moreTuesday 7 November | |
Time Finance PLC | AGM |
Murray Income Trust PLC | AGM |
Wednesday 8 November | |
Incanthera PLC | AGM |
JPMorgan Emerging Markets Investment Trust PLC | AGM |
Thursday 9 November | |
D4t4 Solutions PLC | GM re name change to Celebrus Technologies PLC |
Libertine Holdings PLC | AGM |
SIMEC Atlantis Energy Ltd | EGM re appointment of Nexia Singapore PAC as auditors |
Friday 10 November | |
DFS Furniture PLC | AGM |
Galliford Try Holdings PLC | AGM |
Minoan Group PLC | AGM |
Minoan Group PLC | GM re issuing shares |
Quartix Technologies PLC | AGM |
Redrow PLC | AGM |
Monday 13 November | |
Ironveld PLC | GM re fundraising |
Victoria PLC | GM re annual accounts and Grant Thornton UK LLP re-appointment as auditors |
Copyright 2023 Alliance News Ltd. All Rights Reserved. |
Ironveld PLC - South Africa-focused mining company - Says its newly installed power generation at its Rustenburg facility in South Africa is now supplying two furnaces, following a slight delay over the summer. Says final works and commissioning of the third planned furnace at the smelter had been put on hold as a result, but is now expected to start in October. Adds its operating expenditure has been higher than anticipated as a result, and has thus entered into a working capital loan facility agreement with Tracarta Ltd. Says it consists of a maximum of GBP500,000 to "provide the company with flexibility in meeting ongoing operating costs over the coming months."
Read moreIronveld PLC - South Africa-focused mining company - Confirms that subsidiary, Ironveld Mining (Pty) Ltd, and its joint venture partner, Pace SA Pty Ltd, have agreed with a subsidiary of JSE-listed Sable Exploration and Mining Ltd certain amendments to the funding and operational structure of the DMS Magnetite operation currently being established at Ironveld's mining area. The new structure retains Ironveld's ability to supply ore into the JV and benefit from a share of positive cashflows without having to fund the initial capital expenditure. The parties have now agreed that SEAM, via a subsidiary company Sable Platinum Holdings (Pty) Ltd, will advance all necessary funding of around GBP650,000 for the establishment of an initial quick start 10,000 tonnes per month capacity plant. There will also be an option to fund future expansions in capacity, depending on the success of the venture.
Read more(Sharecast News) - Ironveld was on the list of director buys on Thursday, after it disclosed a purchase linked to a non-executive director.
Read more(Sharecast News) - South Africa-focussed miner and speciality metals company Ironveld announced on Thursday that it achieved first sales of metal products from its Rustenburg smelter in June, as planned.
Read moreIronveld PLC - South Africa-focused mining company - Achieves first sales of metal products from its Rustenburg smelter during June 2023, as planned. Says products sold include high-purity iron and the entirety of titanium slag produced so far this year, all to local buyers. Reiterates announcement in mid-May that the Rustenburg smelter will operate with two furnaces in July, with the third operating furnace due to be brought on stream at the end of July. As a result, says this would represent full planned operating capacity.
Read moreIronveld PLC - South Africa-focused mining company - Appoints Malebo Ratlhagane as deputy chief financial officer with immediate effect. Says Brian James, who has worked with Ironveld since 2012, will take on role as acting group CFO in a non-board capacity to provide "support and mentorship" during the transition. Ratlhagane has been Ironveld's head of finance in South Africa since 2022, while James is currently UK head of finance and company secretary.
Read more(Alliance News) - Ironveld PLC said on Friday its subsidiary Ironveld Energy Ltd signed an agreement with Burnstar Technologies Pty Ltd to produce green energy.
Read more(Sharecast News) - Mining developer Ironveld updated the market on recent activities at its Rustenburg and Limpopo smelting operations on Friday, as well as its partnership with BurnStar Technologies.
Read more