Business
Corporate Update - 2020 Financial Results
Corporate Update - 2020 Financial Results.
About this update from Atlantic Lithium Limited.
[{"type":"text","content":"\n \n \n \n RNS Number : 4114A\n IronRidge Resources Limited\n 29 September 2020\n \n \n \n \n 29 September 2020\n \n \n \n \n \n IronRidge Resources Limited\n \n \n \n \n \n 2020 Financial Results\n \n \n Well Financed for Another Highly Productive and Progressive Year Ahead\n \n \n \n \n \n IronRidge Resources Limited (AIM: IRR, \"IronRidge\" or the \"Company\"), the African focussed minerals exploration company,\n \n is pleased to announce its audited results for the year ended 30 June 2020, the full version of which can be viewed by clicking on the link below:\n \n \n \n \n \n http://www.rns-pdf.londonstockexchange.com/rns/4114A_1-2020-9-29.pdf\n \n \n \n \n Financial and Corporate Highlights:\n \n \n \n \n Ø \n \n Exploration and evaluation expenditure held on the balance sheet for the year ended 30 June 2020 was A$34.0 million, representing an increase of A$9.3 million over the prior year with continued exploration programmes conducted across the Company's projects in Ghana, Côte d'Ivoire , Chad and Australia.\n \n \n \n Ø \n \n Successful capital raisings during the financial year for approximately A$12.5 million in cash, together with the drill-for-equity arrangements implemented with GeoDrill, meant the Company was active in the field throughout the period, and in a strong financial position at year end.\n \n \n \n Ø \n \n IronRidge's corporate strategy is to create and sustain shareholder value through the discovery and evaluation of significant mineral deposits of globally demanded commodities. To this end, the Company continues to advance its project portfolio across the jurisdictions it works in, and also continues its ongoing review of new project and corporate opportunities.\n \n \n \n \n \n \n Ø \n \n Cash position at 30 June 2020 of A$7.3 million.\n \n \n \n Vincent Mascolo, Chief Executive Officer of IronRidge, commented: \n \n \n \"This year has seen sustained progress for IronRidge as we continue to make great strides in the development and exploration of our gold and lithium assets, despite global challenges.\n \n \n \n \n \n \"We were quick to implement strict COVID-19 measures, not only to ensure the safety of our staff but also to minimise disruption to our operations. I believe management chose the correct, necessary steps and all st...