Business
Update on off-take discussions
Update on off-take discussions.
About this update from Ironveld Plc
[{"type":"text","content":"\n \nRNS Number : 1518B Ironveld PLC 05 June 2019 \n\n5 June 2019 \n \nIRONVELD PLC\n(\"Ironveld\" or the \"Company\")\n \nUpdate on off-take discussions\n \nIronveld plc, the owner of a High Purity Iron (\"HPI\"), Vanadium and Titanium project located on the Northern Limb of the Bushveld Complex in Limpopo Province, South Africa (the \"Project\") provides the following update in relation to its discussions with potential off-takers and its ongoing talks with potential industrial partners.\n \nFollowing completion of the bulk sampling and testing programme with a potential off-take partner, who is a specialist subsidiary of an international steel group, the Company entered into discussions, with the aim of concluding a commercial offtake agreement. Whilst those discussions have not formally concluded, commercially viable terms have not been presented to the Company to date, the Board has now come to the view that it is unfortunately not going to be possible to agree terms with this potential off-take partner.\n \nThe Company has in place an offtake agreement for the Project's envisaged vanadium slag product that was entered into in 2016 and remains in discussions with offtake partners for the other products. Negotiations with potential development partners who have completed due diligence continue and 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.\n \n \nFor further information, please contact:\n \n\n\n\n\nIronveld plc\nPeter Cox, Chief Executive\n\n\nc/o Camarco\n020 3757 4980\n \n\n\n\n\n \nShore Capital \nJerry Keen / Toby Gibbs\n \n\n\n \n020 7408 4090\n \n\n\n\n\n \nCamarco\nGordon Poole / Kimberley Taylor / Thayson Pin...