IRONRIDGE Resources, a company listed in London, said it had raised £5.4m before expenses after placing just over 27 million shares with shareholders at 20 pence per share – funds it will use to develop gold and lithium projects in Central and West Africa.
“We have made significant progress over the course of 2018, having focused on enhancing the company’s asset base,” said Vincent Mascolo, CEO of IronRidge in a statement.
The firm’s Cape Coast Lithium project in Ghana had “… continued to deliver exciting and potentially world class lithium grades and drill intersections,” he said.
The company is also exploring a gold prospect in Chad where it had “… uncovered a substantial gold bearing province with a surface footprint rivalling some of today’s largest operating gold mines”. IronRidge is also active in Côte d’Ivoire.
“The capital raise … will enable the director’s to execute their strategy to further develop the company’s highly prospective gold and lithium assets,” the company said. “We would like to thank our existing shareholders for their continued support, and would like to welcome our new shareholders to the register,” said Mascolo.
