Ironveld (IRON)

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 0.70p
   
  • Change Today:
      0.000p
  • 52 Week High: 1.30
  • 52 Week Low: 0.59
  • Currency: UK Pounds
  • Shares Issued: 1,333.67m
  • Volume: 484,131
  • Market Cap: £9.34m

Directors lend Ironveld £0.2m ahead of expected Grosvenor investment

By Josh White

Date: Thursday 30 Dec 2021

LONDON (ShareCast) - (Sharecast News) - Ironveld announced on Thursday that it has entered into loan facility agreements with directors Giles Clarke and Nick Harrison for up to £0.2m, to allow it "flexibility" in meeting its operating costs before the planned investment from Grosvenor Resources completed.
The AIM-traded firm had announced an enlarged planned investment in the group by Grosvenor on 21 December.

It said it had now entered into separate agreements with Clarke and Harrison for £0.2m in total, with a maximum total drawdown per month of £60,000.

Interest on funds drawn would be 7% per annum, with an arrangement fee of 2.5% of the facility's value also applying.

Ironveld said repayment of any funds drawn down plus interest would take place immediately on receipt of Grosvenor funding, or conversion in the event of any future placing.

The facility was conditional on the Grosvenor transactions completing, with 13,333,334 warrants in total exercisable at 1.5p per share.

"As announced on 21 December, Ironveld remains confident that the transactions with Grosvenor will soon complete, but the loan facility provides important flexibility prior to closing of those transactions," the board explained in its statement.

At 1453 GMT, shares in Ironveld were down 10.77% at 0.87p.

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Ironveld Market Data

Currency UK Pounds
Share Price 0.70p
Change Today 0.000p
% Change 0.00 %
52 Week High 1.30
52 Week Low 0.59
Volume 484,131
Shares Issued 1,333.67m
Market Cap £9.34m

Ironveld Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
45.87% below the market average45.87% below the market average45.87% below the market average45.87% below the market average45.87% below the market average
33.93% below the sector average33.93% below the sector average33.93% below the sector average33.93% below the sector average33.93% below the sector average
Income Not Available
Growth Not Available

Ironveld Dividends

No dividends found

Trades for 27-Jun-2022

Time Volume / Share Price
09:39 134,131 @ 0.70p
08:54 250,000 @ 0.69p
08:34 100,000 @ 0.70p

Ironveld Key Personnel

CEO Martin Eales

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