RE: 🔥 Easy 400% coming with £21M deal 🔥7 Oct 2025 08:10
Ironveld PLC's 74%-owned subsidiary, Lapon Mining, has entered a binding Mining Operations Agreement with Daemaneng Minerals. Daemaneng will assume full responsibility for all mining operations at the Lapon site over a five-year period, including capital and operational expenditure. Daemaneng is expected to fund approximately ZAR 500 million, equivalent to GBP 21.6 million, of capital and operational costs at Lapon. Daemaneng will recover verified expenditure from the proceeds of mined material sales. Ironveld will incur no operating or capital expenditure related to mining. Daemaneng is contractually obligated to supply all ore required by Ironveld's JV DMS plant and will manage all offtake agreements for Run-of-Mine material.