Business
Acquisition of Further Côte d'Ivoire Gold Licenses
Acquisition of Further Côte d'Ivoire Gold Licenses.
About this update from Atlantic Lithium Limited.
[{"type":"text","content":"\n \n \n RNS Number : 6018E\n IronRidge Resources Limited\n 02 March 2020\n \n \n \n \n 2 March 2020\n \n \n \n \n \n Acquisition of Bodite and Bianouan\n \n \n Gold Licenses, Côte d'Ivoire\n \n \n Issue of Equity at Premium to Market \n \n \n \n \n \n IronRidge Resources Limited (AIM: IRR, 'IronRidge' or the 'Company'), the African focussed minerals exploration company, is pleased to announce that it has now entered into an agreement with Major Star to acquire 100% of the Bodite and Bianouan gold licenses (collectively the \"licenses\"), which gives IronRidge full ownership of a highly prospective gold exploration portfolio in Côte d'Ivoire.\n \n \n \n \n \n HIGHLIGHTS:\n \n \n \n \n \n Ø \n \n Acquisition of the Bodite and Bianouan Gold licenses in return for the issue of 1,550,388 shares in IronRidge at 18 pence per share; an issue price which is at a significant premium to the current share price.\n \n \n \n Ø \n Previously reported high-grade Air Core (\"AC\") drilling results from the Bianouan license at a 0.15g/t gold cut-off with maximum 2m of internal dilution, including:\n \n \n \n \n \n o \n 12m @ 5.87g/t gold from 10m, including 2m @ 33.8g/t gold;\n \n \n o \n 8m @ 1.29g/t gold from 8m, including 2m @ 3.17g/t gold;\n \n \n o \n 1m @ 3.13g/t Au from 32m at end of hole.\n \n \n Ø \n \n Further endorsement of IronRidge's vision and strategy by Major Star, through the voluntary Lock In of their IronRidge stock for 12 months.\n \n \n \n Ø \n \n IronRidge team to advance the licenses and future growth strategies.\n \n \n \n Ø \n \n Streamlined operations with continuity and structure for future growth.\n \n \n \n \n \n \n Figures and Tables referred to in this release can be viewed in the PDF version available via this link:\n \n http://www.rns-pdf.londonstockexchange.com/rns/6018E_1-2020-3-2.pdf\n \n \n \n \n \n \n \n \n \n \n \n Commenting on the Company's latest progress, \n Vincent Mascolo, Chief Executive Officer of IronRidge, said: \n \n \n \n \n \n \"Identifying acquisition opportunities that are attractive for the Company and its shareholders remains a key priority for our business. We are therefore delighted to have completed these significant acquisitions ahead of schedule, and for an issue of scrip priced at a significant p...