Ironveld PLC Update on bulk sampling programme (9957P)
14 February 2019 - 6:01PM
UK Regulatory
TIDMIRON
RNS Number : 9957P
Ironveld PLC
14 February 2019
14 February 2019
Ironveld Plc
("Ironveld" or the "Company")
Update on bulk sampling programme
Ironveld plc, the owner of a High Purity Iron ("HPI"), Vanadium
and Titanium project ("the Project") located on the Northern Limb
of the Bushveld Complex in Limpopo Province, South Africa is
pleased to provide the following update on the previously announced
bulk sampling programme.
Further to the announcement on 18 January 2019, the Company can
confirm that the potential off-taker has now concluded its
metallurgical tests. The Company will hold discussions with the
potential off-taker over the coming weeks with the aim of reaching
agreement on the terms of an offtake agreement.
The Company also announces it remains in detailed discussions
with two potential development partners for the Project, who are
currently engaged in an extensive due diligence process that may
lead to offers that would facilitate the commencement of smelting
operations by the Company. The Company will provide further updates
to the market in due course.
Peter Cox, CEO of Ironveld, said:
"We are very pleased with the interest shown in our high-quality
ore. In addition, the interest from the potential industrial
partners is highly encouraging. I look forward to updating
shareholders in due course."
Ends
Ironveld plc c/o Camarco
Peter Cox, Chief Executive 020 3757 4980
Shore Capital
Jerry Keen / Toby Gibbs 020 7408 4090
Camarco
Gordon Poole / Kimberley Taylor / Thayson
Pinedo 020 3757 4997
Notes to Editors:
Ironveld (IRON.LN) is the owner of a High Purity Iron, Vanadium
and Titanium project located on the Northern Limb of the Bushveld
Complex in Limpopo Province South Africa. Ironveld expects to mine
its own VTM ore as feedstock for a 7.5 MW DC smelter which will
produce speciality iron products including high purity iron powder
as well as vanadium and titanium slag products.
The Definitive Feasibility Study published in April 2014
confirms the project's viability to deliver an exceptionally high
grade iron product (99.5% Fe) called High Purity Iron which
commands a premium in the market place. Vanadium and Titanium slag
containing commercial grades of vanadium and titanium will also be
produced and sold.
Ironveld's Board includes; Giles Clarke as Chairman, Peter Cox
as CEO, Vred von Ketelhodt as CFO, Nick Harrison, Rupert Fraser and
Duncan George Harvey as a Non-Executive Directors.
Ironveld is an AIM traded company. For further information on
Ironveld please refer to www.ironveld.com.
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END
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