IronRidge Resources Limited Result of AGM (8943I)

TIDMIRR

RNS Number : 8943I

IronRidge Resources Limited

29 November 2018

29 November 2018

IronRidge Resources Limited

Results of Annual General Meeting

IronRidge Resources Limited (AIM: IRR, the Company) confirms that all resolutions put to shareholders were duly passed by a show of hands at the Company's Annual General Meeting, held on 29 November 2018 in Brisbane, Australia.

A breakdown of proxy votes is set out below:

 
                                          Votes for             Votes        %    Abstain 
  Ordinary Business                          (1)       % (2)    against    (2)       (3) 
                                        ------------          ---------  -----  ----------- 
 1. Re-election of Nicholas Mather 
  as a Director                          227,123,422    100%   -             -            - 
--------------------------------------  ------------  ------  ---------  -----  ----------- 
 2. Re-election of Neil Herbert 
  as a Director                          227,123,422    100%   -             -            - 
--------------------------------------  ------------  ------  ---------  -----  ----------- 
 3. Re-election of Kenichiro Tsubaki 
  as a Director                          227,123,422    100%   -             -            - 
--------------------------------------  ------------  ------  ---------  -----  ----------- 
 4. Disapplication of Pre-emptive 
  Rights (as to 15%)                     227,105,229    100%   -             -       18,193 
--------------------------------------  ------------  ------  ---------  -----  ----------- 
 5. Approval to Allot Options to 
  Vincent Mascolo                        215,223,422    100%   -             -   11,900,000 
--------------------------------------  ------------  ------  ---------  -----  ----------- 
 6. Approval to Allot Performance 
  Rights to Vincent Mascolo              215,223,422    100%   -             -   11,900,000 
--------------------------------------  ------------  ------  ---------  -----  ----------- 
 7. Approval of Employee Share 
  Option Loan Plan                       211,670,430    100%   -             -   15,452,992 
--------------------------------------  ------------  ------  ---------  -----  ----------- 
 

Notes:

(1) Any proxy appointments which gave discretion to the Chairman have been included in the "for" total.

   (2)   As a percentage of the aggregate of votes "for" plus votes "against". 
   (3)   An abstention is not counted towards the votes cast "for" or "against" a resolution. 

For any further information, please contact:

 
IronRidge Resources Limited 
Vincent Mascolo (Chief Executive    Tel: [phone] 
 Officer) 
Karl Schlobohm (Company Secretary)  Tel: [phone] 
 
SP Angel Corporate Finance LLP      Tel: [phone] 
                                     0470 
Nominated Adviser and Broker 
Jeff Keating 
 Charlie Bouverat 
 
 Yellow Jersey                        Tel: [phone] 
 Charles Goodwin                      275882 
 Harriet Jackson 
 

Katie Bairsto

Notes to Editors:

IronRidge Resources is an AIM-listed mineral exploration company with frontier assets in both Australia and West Africa, with two province scale projects in Gabon, and promising and advanced titanium and bauxite projects in Queensland, Australia. IronRidge's corporate strategy is to create and sustain shareholder value through the discovery of world-class and globally demanded commodities.

Australia

Monogorilby is prospective for province scale titanium and bauxite, with an initial maiden resource of 54.9MT of premium DSO bauxite. Monogorilby is located in central Queensland, within a short trucking distance of the rail system leading north to the Port of Bundaberg. It is also located within close proximity of the active Queensland Rail network heading south towards the Port of Brisbane.

May Queen is located in Central Queensland within IRR's wholly owned Monogorilby license package and is highly prospective for gold. Historic drilling completed during the 1980s intersected multiple high-grade gold intervals, including 2m @ 73.4 g/t Au (including 1m at 145g/t), 4m @ 38.8g/t Au (at end of hole) and 3m @ 18.9g/t Au, over an approximate 100m strike hosting numerous parallel vein systems, open to the north-west and south-east.

Wholly owned Quaggy contains highly anomalous platinum, palladium, nickel, cobalt and copper exploration targets and is located in Central Queensland, within a short trucking distance of the dormant rail system to the Port of Bundaberg. It is also located within close proximity of the active Queensland Rail network heading south towards the Port of Brisbane.

Chad

The Company entered into an agreement with Tekton Minerals Pte Ltd of Singapore concerning its portfolio covering 900km(2) of highly prospective gold and other mineral projects in Chad, Central Africa. IronRidge acquired 100% of Tekton including its projects and team to advance the Dorothe, Echbara, Am Ouchar, Nabagay and Kalaka licenses, which host multiple, large scale gold projects. Initial trenching results at Dorothe, including 14.12g/t Au over 4m, 34.1g/t over 2m and 63.2g/t over 1m, have defined significant gold mineralised quartz veining over a confirmed 1km strike at an average of 2m and up to 5m true width, across multiple stacked vein zones over a 250m wide zone, with new hard-rock artisanal workings potentially extending strike to >3km.

Ghana

The Company entered into earn-in arrangements with Obotan Minerals Limited, Merlink Resources Limited, Barari Developments Limited and Joy Transporters Limited of Ghana, West Africa, securing the first access rights to acquire the historical Egyasimanku Hill spodumene rich lithium resource, estimated to be in the order of 1.48Mt at 1.67% Li(2) O and surrounding tenements. The portfolio covers some 645km(2) with a further identified 20km strike of pegmatite vein swarms. Tenure package is also highly prospective for tin, tantalum, niobium and gold, which occur as accessory minerals within the pegmatites and host formations.

Côte d'Ivoire

The Company entered into conditional joint venture arrangements in Côte d'Ivoire, West Africa; securing access rights to highly prospective gold mineralised structures and pegmatite occurrences covering a combined 3,235km(2) and 1,177km(2) area respectively. The projects are well located within access of an extensive bitumen road network and along strike from multi-million ounce gold projects and mines.

Gabon

Tchibanga is located in south-western Gabon, in the Nyanga Province, within 10-60km of the Atlantic coastline. This project comprises two exploration licenses, Tchibanga and Tchibanga Nord, which cover a combined area of 3,396km(2) and include over 90km of prospective lithologies and the historic Mont Pele iron occurrence.

Belinga Sud is Located in the north east of Gabon in the Ogooue-Ivindo Province, approximately 400km east of the capital city of Libreville. IRR's licence lies between the main Belinga Iron Ore Deposit, believed to be one of the world's largest untapped reserves of iron ore with an estimated 1bt of iron ore at a grade >60% Fe, and the route of the Trans Gabonese railway, which currently carries manganese ore and timber from Franceville to the Port of Owendo in Libreville.

Corporate

IronRidge made its AIM debut in February 2015, successfully securing strategic alliances with three international companies: Assore Limited of South Africa, Sumitomo Corporation of Japan and DGR Global Limited of Australia. Assore is a high- grade iron, chrome and manganese mining specialist. Sumitomo Corporation is a global resources, mining marketing and trading conglomerate. DGR Global is a project generation and exploration specialist.

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November 29, 2018 04:27 ET (09:27 GMT)