Result of Meeting
Updated : 07:01
29 November 2019
IronRidge Resources Limited
(AIM: IRR)
Result of General Meeting
IronRidge Resources Limited (AIM: IRR, the Company) confirms that all resolutions put to shareholders were duly passed by a show of hands at the Company's Annual General Meeting, held on 29 November 2019 in Brisbane, Australia.
A breakdown of proxy votes is set out below:
Ordinary Business | Votes for (1) | % (2) | Votes against | % (2) | Abstain (3) |
1. Re-election of Stuart Crow as a Director | 222,021,125 | 100% | - | - | - |
2. Re-election of Tetsunosuke Miyawaki as a Director | 222,021,125 | 100% | - | - | - |
3. Re-election of Kieran Daly as a Director | 222,021,125 | 100% | - | - | - |
4. Grant of Options to Nicholas Mather | 222,021,125 | 100% | - | - | - |
5. Grant of Options to Vincent Mascolo | 208,021,125 | 100% | - | - | 14,000,000 |
6. Grant of Options to Stuart Crow | 222,021,125 | 100% | - | - | - |
7. Grant of Options to Neil Herbert | 222,021,125 | 100% | - | - | - |
8. Grant of Options to Alistair McAdam | 222,021,125 | 100% | - | - | - |
9. Grant of Options to Kieran Daly | 222,021,125 | 100% | - | - | - |
10. Grant of Options to Tetsunosuke Miyawaki | 222,021,125 | 100% | - | - | - |
11. Authority to Issue Shares for Cash | 222,021,125 | 100% | - | - | - |
12. Authority to Issue Shares for Non-Cash Consideration Purposes | 222,021,125 | 100% | - | - | - |
Notes:
(1) Any proxy appointments which gave discretion to the Chairman have been included in the "for" total.
(2) As a percentage of the aggregate of votes "for" plus votes "against".
(3) An abstention is not counted towards the votes cast "for" or "against" a resolution.
Issue of options to directors
As detailed in the Company's RNS of 7 November 2019, Resolutions 4 to 10 put to shareholders at the AGM sought shareholder approval to issue options to directors of the Company. Each of the options is exercisable at an exercise price of 25 pence and expires on 29 November 2021.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | 1. Vincent Mascolo 2. Nicholas Mather 3. Stuart Crow 4. Neil Herbert 5. Alistair McAdam 6. Kieran Daly 7. Tetsunosuke Miyawaki
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2. | Reason for the notification | |||||
a) | Position/status: | 1. Chief Executive Officer 2. Non-Executive Director 3. Non-Executive Director 4. Non-Executive Chairman 5. Non-Executive Director 6. Non-Executive Director 7. Non-Executive Director
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b) | Initial notification/Amendment: | Initial notification
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name: | IronRidge Resources Limited | ||||
b) | LEI: | 213800H1JY3J7BB6BN06 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. | |||||
a) | Description of the financial instrument, type of instrument: Identification code: | Depositary Interests of no par value
ISIN: AU0000XINEX3 | ||||
b) | Nature of the transaction: | Grant of options over ordinary shares
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c) | Price(s) and volume(s): |
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d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above
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e) | Date of the transaction: | 29 November 2019
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f) | Place of the transaction: | Outside of a trading venue | ||||
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN RELATION TO THE COMPANY AND ITS SECURITIES.
For any further information please contact:
IronRidge Resources Limited Vincent Mascolo (Chief Executive Officer) Karl Schlobohm (Company Secretary) | Tel: +61 (0)7 3303 0610 |
SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat | Tel: +44 (0)20 3470 0470 |
SI Capital Limited Company Broker Nick Emerson Jon Levinson |
Tel: +44 (0) 1483 413 500 Tel: +44 (0) 207 871 4038 |
Yellow Jersey PR Limited Harriet Jackson Dominic Barretto Emma Becirovic | Tel: +44 (0)20 3004 9512 |
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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