TIDMIRR
RNS Number : 8034S
IronRidge Resources Limited
18 November 2021
18 November 2021
IronRidge Resources Limited
Results of Annual General Meeting ("AGM")
IronRidge Resources Limited (AIM: IRR, "IronRidge" or the
"Company") confirms that all resolutions put to shareholders at the
Company's Annual General Meeting, held earlier today in Sydney,
Australia were passed by a show of hands.
A further update will be made by the Company in respect of the
timing of the change of name from IronRidge Resources Limited and
to Atlantic Lithium Limited and change of TIDM from "IRR" to "ALL"
once approval has been received from the Australian Securities and
Investments Commission which is expected in the coming days.
A breakdown of proxy votes tendered for the meeting is set out
below:
Votes
Votes for % against % Abstain
(1) (2) (2) (3)
------------ --------- ------ --------
Ordinary Business
--------------------------------- ------------ ------- --------- ------ --------
1. Reduction of Capital
and In-specie Distribution 283,601,724 98.98% 50,352 0.02% 6,000
------------ ------- --------- ------ --------
2. Election of Christelle
van der Merwe as a Director 283,601,724 98.98% 50,352 0.02% 6,000
------------ ------- --------- ------ --------
3. Re-election of Neil
Herbert as a Director 283,601,724 98.98% 50,352 0.02% 6,000
------------ ------- --------- ------ --------
4. Re-election of Geoffrey
Stuart Crow as a Director 283,601,724 98.98% 50,352 0.02% 6,000
------------ ------- --------- ------ --------
5. Authority to issue shares
for Cash 283,601,724 98.98% 50,352 0.02% 6,000
------------ ------- --------- ------ --------
6. Authority to Issue Shares
for Non-Cash Consideration
Purposes 283,601,724 98.98% 50,352 0.02% 6,000
------------ ------- --------- ------ --------
Special Business
------------ ------- --------- ------ --------
7. Change of Name to Atlantic
Lithium Limited 283,601,724 98.98% 50,352 0.02% 6,000
------------ ------- --------- ------ --------
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.
By order of the Board
Amanda Harsas
Company Secretary
Commenting, Vincent Mascolo, Chief Executive Officer of
IronRidge, said:
"I am delighted to report the strong support from our
shareholders for the resolutions put forward at the AGM held
earlier today. The Company's name change to Atlantic Lithium, which
will take effect in the coming days, is a reflection of our new
strategy on lithium, with the development of our Ewoyaa Project in
Ghana our key focus. This coincides with the demerger of our gold
assets into a new entity, Ricca Resources, to fully realise the
value of our Cape Coast Lithium Portfolio within the Atlantic
structure.
"Additionally, shareholders will benefit from the approved
demerger of our highly prospective gold projects throughout Cote
d'Ivoire and Chad into the separate entity called Ricca Resources.
Shareholders and investors are reminded, if you wish to partake in
the Ricca Resources gold demerger, to avoid disappointment ensure
you are on the IronRidge register on Friday 19 November 2021.
"I would like to thank our loyal shareholders for their
continued support, and I look forward to giving further updates on
Atlantic Lithium in due course."
For any further information, please contact:
IronRidge Resources Limited Tel: +61 2 8072 0640
Vincent Mascolo (Chief Executive Officer)
Amanda Harsas (Company Secretary)
www.ironridgeresources.com.au
SP Angel Corporate Finance LLP Tel: +44 (0)20 3470 0470
Nominated Adviser
Jeff Keating
Charlie Bouverat
Canaccord Genuity Limited Tel: +44 (0) 20 7523 4500
Joint Company Broker
Raj Khatri
James Asensio
Harry Rees
Liberum Capital Limited Tel: +44 (0) 20 3100 2000
Joint Company Broker
Scott Matheson
Edward Thomas
Kane Collings
SI Capital Limited Tel: +44 (0) 1483 413
Joint Company Broker 500
Nick Emerson Tel: +44 (0) 207 871 4038
Jon Levinson
Yellow Jersey PR Limited Tel: +44 (0)20 3004 9512
Henry Wilkinson
Dominic BarrettoMatthew McHale
Notes to Editors:
About IronRidge
www.ironridgeresources.com.au
IronRidge Resources is an AIM-listed, Africa focused minerals
exploration company with a significant lithium pegmatite discovery
in Ghana, extensive gold portfolios in Côte d'Ivoire and a
potential new gold province discovery in Chad. As announced on 1
June 2021, IronRidge intends to demerge its suite of gold assets
into a separate listed entity. As announced on 31 August 2021,
Piedmont Lithium to fully fund the Ewoyaa lithium project in
Ghana.
Ghana
The Cape Coast Lithium portfolio covers some 684km(2) and
includes the newly discovered Ewoyaa Lithium Project with a maiden
Mineral Resource estimate of 14.5Mt at 1.31% Li(2) O in the
inferred and indicated category including 4.5Mt at 1.39% Li(2) O in
the indicated category (reported in accordance with the JORC Code).
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% Li(2) O and surrounding tenements. The tenure package is also
prospective for tin, tantalum, niobium, caesium and gold, which
occur as accessory minerals within the pegmatites and host
formations.
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 3,982km2 and 774km2 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. The Company's most advanced project is the
Zaranou gold project which includes high-grade gold drilling
intersections along 8km strike including 6m at 6.44g/t gold from
132m, 6m at 15.11g/t gold from 26m, 4m at 5.16g/t gold from 110m
and 22m at 3.39g/t gold from 8m within a broader 47km long gold
anomalous structure.
Chad
The Company's Tekton Minerals Pte Ltd of Singapore holds an
extensive portfolio covering 746km(2) 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 at 1.66g/t Au (including 6m at 5.49g/t &
8m at 6.23g/t), 4m at 18.77g/t Au (including 2m at 36.2g/t), 32m at
2.02g/t Au (including 18m at 3.22g/t), 24m at 2.53g/t Au (including
6m at 4.1g/t (including 2m at 6.2g/t) and 2m at 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.
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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