Last checked at 19 Mar 2015 07:00
19 March 2015
Ironveld plc ("Ironveld or the "Company")
Directorate Change
Ironveld plc, the High Purity Iron ("HPI"), Vanadium and Titanium project located on the Northern Limb of the Bushveld district of Limpopo Province of South Africa, announces that Terry McConnachie has advised the Board of his resignation as a Director from the Company with immediate effect in order to focus on other business interests.
Giles Clarke, Chairman of Ironveld commented:
"We would like to thank Terry, the original author of Ironveld's project, for his valued contribution to the Board and wish him all the best for the future.
"The Company is making good progress towards completing the financial arrangements for our highly attractive project and look forward to commencing construction of the 15MW smelter in mid-2015, with commissioning on track to begin in the first half of 2016."
Ends
For further information, please contact:
Ironveld plc c/o Camarco
Peter Cox, Chief Executive 020 3757 4980
Shore Capital and Corporate Limited 020 7408 4090
Stephane Auton / Toby Gibbs (corporate finance)
Jerry Keen (corporate broking)
Camarco 020 3757 4980
Billy Clegg / Georgia Mann
Notes to Editors:
Ironveld (IRON.LN) is a titanium, vanadium and magnetite project located on the Northern Limb of the Bushveld Complex in Limpopo Province South Africa. Ironveld expects to mine its own VTM ore as feedstock for a 15MW smelter which will produce speciality iron products including high purity iron powder as well as Vanadium and titanium products.
The Definitive Feasibility Study published in April 2014 confirms the project's viability to deliver an exceptionally high grade iron product (99.5% Fe) called High Purity Iron which commands a premium in the market place. Vanadium and titanium slag containing commercial grades of vanadium and titanium will also be produced and sold.
Ironveld's Board includes; Giles Clarke as Chairman, Peter Cox, CEO and Nick Harrison as a Non-Executive Director.
Ironveld is an AIM listed Company. For further information on Ironveld please refer to www.ironveld.com