Last checked at 12 Aug 2019 07:00
12 August 2019
IRONVELD PLC
("Ironveld" or the "Company")
Update on Strategic Review
Ironveld plc, the owner of a High Purity Iron ("HPI"), vanadium and titanium project located on the Northern Limb of the Bushveld Complex in Limpopo Province, South Africa, is pleased to announce that as part of the strategic review of its mining assets announced on 2 July 2019, the Company has entered into confidentiality agreements with several parties interested in potentially making an offer to purchase all or part of the Company's assets. Ironveld is currently in the process of providing such parties with further information on the Company's assets and access to the Company's site, management and advisers.
The Company is encouraged by the level of interest it has received to date and looks forward to working with interested parties to further the strategic review.
Further interested parties are encouraged to read the research report available at https://researchlibrary.finncap.com/User/Login that sets out the potential for the Company's assets to become a vertically integrated vanadium mining and processing business, as well as review the Company website (www.ironveld.com/). Such parties should also contact finnCap through the details set out at the bottom of this announcement.
For further information, please contact:
Ironveld plc Giles Clarke, Chairman Peter Cox, Chief Executive
| c/o Camarco +4420 3757 4980
| |
finnCap (Financial Adviser) Christopher Raggett / Hannah Boros
| +4420 7220 0500 | |
Shore Capital (Nominated Adviser and Broker)Jerry Keen / Toby Gibbs | +4420 7408 4090 | |
Camarco Gordon Poole / Kimberley Taylor / Thayson Pinedo | +4420 3757 4980 |
About Ironveld
Ironveld (IRON.LN) is the owner of a High Purity Iron, Vanadium and Titanium 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 7.5 MW DC smelter which will produce speciality iron products including high purity iron powder as well as vanadium and titanium slag 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.
About finnCap
finnCap Ltd, is acting for the Company in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of the Company or for providing advice in relation to the matters described in this announcement.
About Shore Capital and Corporate Limited and Shore Capital Stockbrokers Limited
Shore Capital and Corporate Limited and Shore Capital Stockbrokers Limited (together "Shore Capital"), which are regulated in the United Kingdom by The Financial Conduct Authority, are acting for the Company in relation to the matters described in this announcement and are not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of the Company or for providing advice in relation to the matters described in this announcement.
This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.
The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.