Ironveld (IRON)

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0.14p
   
  • Change Today:
      0.004p
  • 52 Week High: 0.39
  • 52 Week Low: 0.12
  • Currency: UK Pounds
  • Shares Issued: 3,935.00m
  • Volume: 3,409,882
  • Market Cap: £5.44m

Ironveld looking to extend option period with IIG

By Josh White

Date: Wednesday 27 May 2020

LONDON (ShareCast) - (Sharecast News) - Ironveld updated the market on the IIG option agreement on Wednesday, having entered into arrangements with IIG to raise potential gross proceeds of $3.2m (£2.6m) on 30 March.
The AIM-traded firm explained that itself and IIG entered into an option agreement under which, on the grant of the option, IIG could subscribe for 440,176,070 new ordinary shares at a price of 0.42p each, with the option due to expire on 17 June.

On Wednesday, Ironveld said the two parties had been "working closely" in recent weeks to investigate and make application for project development funding, which would facilitate the start of mining and production for Ironveld's magnetite project in South Africa.

"The fundraising transaction and larger project financing application have been impacted by the effect of lockdown restrictions in South Africa due to Covid-19, which has caused interruption at all levels of commerce," the board said in its statement.

"Due to both of these factors, Ironveld and IIG are in negotiations to extend the period during which the option can be exercised.

"If such an extension is agreed it is anticipated that IIG will provide bridge funding to Ironveld so that it is capable of meeting its obligations prior to the anticipated exercise of the option."

At 0829 BST, shares in Ironveld were down 4% at 0.96p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Ironveld Market Data

Currency UK Pounds
Share Price 0.14p
Change Today 0.004p
% Change -2.92 %
52 Week High 0.39
52 Week Low 0.12
Volume 3,409,882
Shares Issued 3,935.00m
Market Cap £5.44m

Ironveld Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
37.27% above the market average37.27% above the market average37.27% above the market average37.27% above the market average37.27% above the market average
46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average
Price Trend
89.03% below the market average89.03% below the market average89.03% below the market average89.03% below the market average89.03% below the market average
96.04% below the sector average96.04% below the sector average96.04% below the sector average96.04% below the sector average96.04% below the sector average
Income Not Available
Growth Not Available

Ironveld Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
10:04 300,000 @ 0.13p
10:04 300,000 @ 0.13p
10:02 523,361 @ 0.12p
08:54 300,000 @ 0.14p
08:48 784,368 @ 0.13p

Ironveld Key Personnel

CEO Martin Eales

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