Notice of AGM
Updated : 17:30
7 November 2019
IronRidge Resources Limited
Notice of AGM Materials sent to Shareholders
The Board of IronRidge Resources Limited ("IronRidge" or the "Company") is pleased to advise that the Annual General Meeting (AGM) is scheduled to be held on 29 November 2019 at 14:00pm (Brisbane time, Australia) at the offices of Hopgood Ganim Lawyers, Level 8 Waterfront Place, 1 Eagle Street, Brisbane Qld 4000.
The AGM materials will be despatched to shareholders today. A copy of the AGM materials is available via the Company's website (https://www.ironridgeresources.com.au/agm-notice/)
Resolutions to be put to shareholders at the AGM are as follows:
Resolution 1. | Re-Election of Stuart Crow as a Director That in accordance with Article 40.1(c) of the Company's Constitution, Stuart Crow, who retires by rotation in accordance with the Company's Constitution and, being eligible and offering himself for re-election, be re-elected as a Director of the Company.
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Resolution 2. | Re-Election of Tetsunosuke Miyawaki as a Director That in accordance with Article 38.2 of the Company's Constitution, Tetsunosuke Miyawaki, who retires in accordance with the Company's Constitution and, being eligible and offering himself for re‐election, be re‐elected as a Director of the Company."
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Resolution 3
| Re-Election of Kieran Daly as a Director That in accordance with Article 38.2 of the Company's Constitution, Kieran Daly, who retires in accordance with the Company's Constitution and, being eligible and offering himself for re‐election, be re‐elected as a Director of the Company.
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Resolutions 4 - 10: Grant of options to directors
Resolutions 4 to 10 to be proposed at the AGM are seeking approval to issue options to directors of the Company is as follows:
Each of the options is exercisable at an exercise price of 25 pence and expires 24 months from the date of issue.
| Number of options |
Vincent Mascolo (Chief Executive Officer) | 4,500,000 |
Nicholas Mather (Non-Executive Director) | 750,000 |
Stuart Crow (Non-Executive Director) | 750,000 |
Neil Herbert (Non-Executive Chairman) | 3,000,000 |
Alistair McAdam (Non-Executive Director) | 750,000 |
Kieran Daly (Non-Executive Director) | 750,000 |
Tetsunosuke Miyawaki (Non-Executive Director) | 750,000 |
Total | 11,250,000 |
Resolution 11. | Authority to Issue Shares for Cash That, the Directors be authorised pursuant to Rule 6.3 of the Company's Constitution to allot and issue Equity Securities for cash as if Rule 6.1 did not apply to any such allotment provided that this authority shall be limited to the allotment and issue of up to a maximum of 15% of the issued share capital of the Company as at the date of the Meeting. Such authority to be valid from the date of approval until the date of the Company's next Annual General Meeting
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Resolution 12. | Authority to Issue Shares for Non-Cash Consideration Purposes That, the Directors be authorised pursuant to Rule 6.2(a) of the Company's Constitution to allot and issue Equity Securities up to a maximum of 15% of the issued share capital of the Company as at the date of the Meeting, to be used for non-cash consideration purposes. Such authority to be valid from the date of approval until the date of the Company's next Annual General Meeting.
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For any further information please contact:
IronRidge Resources Limited |
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Vincent Mascolo (Chief Executive Officer) | Tel: +61 7 3303 0610 |
Karl Schlobohm (Company Secretary) |
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SP Angel Corporate Finance LLP | Tel: +44 (0)20 3470 0470 |
Nominated Adviser |
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Jeff Keating |
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Charlie Bouverat |
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SI Capital Limited Company Broker Nick Emerson Gregory Mahoney
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Tel: +44 (0) 14834 413 500 Tel: +44 (0) 207 871 4038 |
Yellow Jersey PR Limited | Tel: +44 (0) 203 004 9512 |
Harriet Jackson Dominic Barretto Emm Becirovia |
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Notes to Editors:
IronRidge Resources is an AIM-listed, Africa focussed minerals exploration company with a lithium pegmatite discovery in Ghana, extensive grassroots gold portfolio in Cote d'Ivoire and a potential new gold province discovery in Chad. The Company holds legacy iron ore assets in Gabon and a bauxite resource in Australia. IronRidge's strategy is to create and sustain shareholder value through the discovery and development of significant and globally demanded commodities.
Ghana
The Company entered into earn-in arrangements with Obotan Minerals Limited, Merlink Resources Limited, Barari Developments Limited and Joy Transporters Limited of Ghana, West Africa, securing the first access rights to acquire the historical Egyasimanku Hill spodumene rich lithium deposit, estimated to be in the order of 1.48Mt at 1.67% Li2O and surrounding tenements. The portfolio covers some 684km2 with the newly discovered Ewoyaa project including drill intersections of 128m @ 1.21% Li2O from 3m and 111m @ 1.35% Li2O from 37m, and a further identified 20km strike of pegmatite vein swarms. The tenure package is also highly prospective for tin, tantalum, niobium, caesium and gold, which occur as accessory minerals within the pegmatites and host formations.
Chad
The Company entered into an agreement with Tekton Minerals Pte Ltd of Singapore concerning its portfolio covering 900km2 of highly prospective gold and other mineral projects in Chad, Central Africa. IronRidge acquired 100% of Tekton including its projects and team to advance the Dorothe, Echbara, Am Ouchar, Nabagay and Kalaka licenses, which host multiple, large scale gold projects. Trenching results at Dorothe, including 84m @ 1.66g/t Au (including 6m @ 5.49g/t & 8m @ 6.23g/t), 4m @ 18.77g/t Au (including 2m @ 36.2g/t), 32m @ 2.02g/t Au (including 18m @ 3.22g/t), 24m @ 2.53g/t Au (including 6m @ 4.1g/t (including 2m @ 6.2g/t) and 2m @ 6.14g/t), 14.12g/t Au over 4m, 34.1g/t over 2m and 63.2g/t over 1m, have defined significant gold mineralised quartz veining zones over a 3km by 1km area including the steep dipping 'Main Vein' and shallow dipping 'Sheeted Vein' zones.
Côte d'Ivoire
The Company entered into conditional earn-in arrangements in Côte d'Ivoire, West Africa; securing access rights to highly prospective gold mineralised structures and pegmatite occurrences covering a combined 3,584km2 and 1,172km2 area respectively. The projects are well located within access of an extensive bitumen road network and along strike from multi-million-ounce gold projects and mines.
Australia
Monogorilby is prospective for province scale titanium and bauxite, with an initial maiden resource of 54.9MT of premium DSO bauxite. Monogorilby is located in central Queensland, within a short trucking distance of the rail system leading north to the Port of Bundaberg. It is also located within close proximity of the active Queensland Rail network heading south towards the Port of Brisbane.
May Queen is located in Central Queensland within IRR's wholly owned Monogorilby license package and is highly prospective for gold. Historic drilling completed during the 1980s intersected multiple high-grade gold intervals, including 2m @ 73.4 g/t Au (including 1m at 145g/t), 4m @ 38.8g/t Au (at end of hole) and 3m @ 18.9g/t Au, over an approximate 100m strike hosting numerous parallel vein systems, open to the north-west and south-east.
Gabon
Tchibanga is located in south-western Gabon, in the Nyanga Province, within 10-60km of the Atlantic coastline. This project comprises two exploration licenses, Tchibanga and Tchibanga Nord, which cover a combined area of 3,396km2 and include over 90km of prospective lithologies and the historic Mont Pele iron occurrence.
Belinga Sud is Located in the north east of Gabon in the Ogooue-Ivindo Province, approximately 400km east of the capital city of Libreville. IRR's licence lies between the main Belinga Iron Ore Deposit, believed to be one of the world's largest untapped reserves of iron ore with an estimated 1bt of iron ore at a grade >60% Fe, and the route of the Trans Gabonese railway, which currently carries manganese ore and timber from Franceville to the Port of Owendo in Libreville.
Corporate
IronRidge made its AIM debut in February 2015, successfully securing strategic alliances with three international companies: Assore Limited of South Africa, Sumitomo Corporation of Japan and DGR Global Limited of Australia. Assore is a high-grade iron, chrome and manganese mining specialist. Sumitomo Corporation is a global resources, mining marketing and trading conglomerate. DGR Global is a project generation and exploration specialist.
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