Ironveld PLC- South African-focused exploration and development company - Reports annual pretax loss of GBP465,000 in the year to June 30, narrowed from GBP1.0 million the year before. Attributes the reduction in loss to a gain of GBP335,000 from the settlement of financial liabilities with equity. Adds that there were impairment charges of GBP326,000 in the last half-year that did not occur in this one. Records no revenue for the period, unchanged from last year. Plans to bring assets on the Northern Limb of the Bushveld Complex in Limpopo into production with Grosvenor Resources Ltd in 2022.
Confirms that it entered a loan facility with two of its directors - Giles Clarke and Nick Harrison - for maximum of GBP200,000. Says this will allow the company flexibility in meeting operating costs. Notes that the loan facility is conditional on completion of the Grosvenor transaction.
Current stock price: 0.91 pence, down 6.9% on Thursday
Year-to-date change: up 71%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.