Business
2017 Annual Financial Report
2017 Annual Financial Report.
About this update from Atlantic Lithium Limited.
[{"type":"text","content":"\n \nRNS Number : 1686S IronRidge Resources Limited 29 September 2017 \n\n29 September 2017\n \n \n2017 FINANCIAL RESULTS\n \nTransformational Period of Strategic Transactions\n \nIronRidge Resources Limited (AIM: IRR, ''IronRidge'' or the ''Company''), an AIM listed minerals exploration company with a diversified portfolio of gold, lithium, bauxite, titanium and iron ore in frontier regions of Africa and Australia, is pleased to announce its audited results for the year ended 30 June 2017. \n \nTo view the Annual Report please visit the Company website: https://www.ironridgeresources.com.au/annual-reports/\n \nFinancial Highlights:\n \n· Investment of A$2.9 million into Tekton Pte Ltd providing the Company with access to promising underlying gold projects in Chad. \n· Exploration and evaluation expenditure for the year ended 30 June 2017 was A$6.8 million representing an increase of A$1.7 million over the prior year with initial field programs conducted across the Company's projects in Ghana, Ivory Coast and Australia. \n· Grant of 19 million share options as incentives to Directors and management.\n· Cash position (as at 31 August 2017) of US$12.3 million.\n \nOperational Highlights:\n \n· A series of strategic acquisitions and joint venture agreements were announced over the course of the year, all focused on expanding the Company's African portfolio including:\no In June 2017, the Joint Venture agreement with Enchi Proci SARL was made unconditional, giving the Company exclusive rights to a prospective lithium application in Ivory Coast, West Africa.\no In March 2017, the Company signed a Joint Venture agreement with Major Star SARL (''Major Star''), providing it with exclusive rights to a portfolio of gold exploration targets in Ivory Coast, West Africa.\no In November 2016, the Company submitted three highly prospective lithium applications within the Ivory Coast, West Africa.\no In May 2016, the Company signed Joint Venture agreements with three local exploration companies to acquire access rights to an historic high-grade lithium resource and associated prospective tenure, collectively terme...