Market Update Economic Events Directors Deals Commodities Prices News Market Movers

Ironveld 'confident' of successful outcome from ongoing bulk supply programme

Friday, 7th December 2018
Ironveld said it had experienced a significant developments over the past year as its continued efforts to become a production led mining company and process its ore on site.

In the past 12 months through June, the company put down a R7.0m refundable deposit to ensure a period of exclusivity for the potential acquisition of Middelburg Smelting facility and begun site establishment and civil engineering works in first-quarter of year in preparation to begin mining activities.

During post-period, the company commenced a bulk sampling program to supply run of mine ore to a potential offtake partner, who was a specialist subsidiary of an international steel group, following a period of engagement.

A commercial sample of 10,000 tons of the company's ore was provided to the potential partner, the company said.

The current sampling programme with the off-take partner had the potential to result in a long-term offtake agreement, bringing the company closer to achieving its objective of becoming a production led mining company and processing its ore on site.

'We remain confident in a successful outcome from the ongoing bulk sampling supply programme we are engaged in and in our project as a highly economic VTM ore body. We thank all our shareholders for their continued support and look forward to providing further updates in due course,' said Peter Cox, CEO.

At 9:48am: (LON:IRON) Ironveld Plc share price was 0p at 1.8p

Story provided by

Related Shares: Ironveld

Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is, free of charge. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. UK data supplied by NBTrader and Digital Look. Share Prices are at least 15 minutes delayed.