Ironveld Regulatory News (IRON)

29 November 2024

IRONVELD PLC

Board Changes

Ironveld PLC ("Ironveld" or the "Company"), the owner of a High Purity Iron ("HPI"), Vanadium, and Titanium project (the "Project"), located on the Northern Limb of the Bushveld Complex in Limpopo Province, South Africa, announces that Giles Clarke has informed the Company that he has taken the decision to retire from the Board and as a Non-Executive Director of Ironveld, with immediate effect.

In May 2024, Kristoffer Andersson was appointed as Chief Executive Officer of Ironveld and since this time has worked alongside Dr John Wardle, Executive Chairman, to identify key operational objectives and establish a strategy that would enable the Company to realise the value from the Project. As a result of the successful placing and subscription to raise £2.5 million, which completed in November 2024, the Company is now well placed to implement this strategy, and the Board looks forward to updating shareholders on progress in the coming months.

Following Giles Clarke's resignation and completion of the capital raise, John Wardle has assumed the role of Non-Executive Chairman of the Company.

John Wardle, Non-Executive Chairman, commented: "Giles has served on the Board of Ironveld since 2010 and I would like to thank him for the support and insight he has provided to the Company during this time. The Board wish Giles all the best for the future, and we now focus on a period when we expect to see transformation progress at the Project, including increased production, and the commencement of revenues and positive cash flow."

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