We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now


It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

IRON Ironveld Plc

0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ironveld Plc LSE:IRON London Ordinary Share GB0030426455 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0975 0.095 0.10 0.0975 0.0975 0.0975 1,351,658 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Scrap & Waste Materials-whsl 103k -435k -0.0001 -10.00 3.93M

Ironveld PLC Working Capital Facility

02/02/2024 1:48pm

RNS Regulatory News

RNS Number : 9107B
Ironveld PLC
02 February 2024

Ironveld Plc

("Ironveld" or the "Company")

Working Capital Facility

Ironveld plc ("Ironveld" or the "Company"), the AIM quoted mining development company, is pleased to confirm that it has entered into working capital loan facility agreements (the "Facility Agreements") with Tracarta Limited (in which John Wardle, Executive Chairman of the Company, has a beneficial interest). The Facility Agreements enable the Company to draw down up to £375,000, and consist of a £250,000 facility, through a 12-month extension of the existing agreement with Tracarta (as notified by Ironveld on 18 September 2023), and a new £125,000 facility on equivalent terms to the existing facility with Tracarta, with a term of six months. 

The funding available through the Facility Agreements will be used to strengthen the Company's working capital position. As previously notified, the Company remains in discussions regarding a direct institutional funding transaction, which is currently expected to close in H1 2024 and, if concluded, will enable Ironveld to invest in all Group operations, including transition to production of high purity iron powders.

The Facility Agreements have the following key terms:

Facility Amount:

£250,000 (extension)

£125,000 (new)


12 months

6 months


11% per annum

11% per annum


No fee for extension


Repayment and Conversion:

Repayment of any funds drawn down plus interest immediately upon receipt of funds drawn down from any replacement institutional debt facility or conversion at the issue price in the event of any future equity placing during the loan term

Repayment of any funds drawn down plus interest immediately upon receipt of funds drawn down from any replacement institutional debt facility or conversion at the issue price in the event of any future equity placing during the loan term





Related Party Transaction

John Wardle has a beneficial interest in Tracarta and, as such, the provision of the facilities by Tracarta constitutes a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The Company's independent Directors (being Giles Clarke, Nick Harrison, Peter Cox, Martin Eales and Malebo Ratlhagane) consider, having consulted with the Company's nominated adviser, Cavendish, that the terms of the Facility Agreements are fair and reasonable insofar as the Company's shareholders are concerned.


For further information, please contact:

Ironveld plc

Dr John Wardle, Executive Chairman

Martin Eales, Chief Executive Officer


c/o BlytheRay

+44 20 7138 3204


Cavendish Capital Markets Ltd (Nomad and Joint Broker)

Derrick Lee / Adam Rae



+44 20 7220 0500

Turner Pope (Joint Broker)

Andrew Thacker/James Pope


+44 20 3657 0050


Tim Blythe / Megan Ray

+44 20 7138 3204




Ironveld (IRON.LN) is the owner of Mining Rights over approximately 28 kilometres of outcropping Bushveld magnetite with a SAMREC compliant ore resource of some 56 million tons of ore grading 1.12% V2O5, 68.6% Fe2O3 and 14.7% TiO2.

In 2022, Ironveld agreed to acquire and refurbish a smelter facility in Rustenburg, South Africa, in which it can process its magnetite ore into the marketable products of high purity iron, titanium slag and vanadium slag. This transaction became unconditional in March 2023.

Ironveld is an AIM traded company. For further information on Ironveld please refer to


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

1 Year Ironveld Chart

1 Year Ironveld Chart

1 Month Ironveld Chart

1 Month Ironveld Chart

Your Recent History

Delayed Upgrade Clock