Ironveld PLC Commencement of work at Smelter site (6161V)
11 Agosto 2022 - 3:00AM
UK Regulatory
TIDMIRON
RNS Number : 6161V
Ironveld PLC
11 August 2022
Ironveld plc
Commencement of work at Smelter site
Ironveld plc ("Ironveld" or the "Company") is delighted to
announce that, following successful completion of the recent
placing to raise gross proceeds of GBP4.5 million, its team of
specialist contractors has now commenced work at the FCF Smelter
site in Rustenburg, South Africa.
The focus in the initial weeks will be site clean-up and
security, as well as water, electrical and gas supply servicing and
safety checks. In addition, mechanical, electrical and structural
compliance checks and statutory certification will be completed.
Following this, the planned refurbishment and upgrades across the
facility, which will allow the first of the three furnaces to
commence production, will be undertaken. The planned refurbishment
will take six to nine months, as previously announced by the
Company.
Final contracts for completion of the acquisition are
progressing well. Ironveld has been permitted by the Business
Rescue Practitioners (Tayfin Forensic and Investigative Auditors)
and the sole creditor to gain access to the smelter facility at
this early stage in order to progress with the refurbishment as
time efficiently as possible.
**ENDS**
For further information, please contact:
Ironveld plc c/o BlytheRay
Giles Clarke, Chairman +44 20 7138 3204
Martin Eales, Chief Executive Officer
finnCap (Nomad and Joint Broker)
Christopher Raggett / Charlie Beeson +44 20 7220 0500
Turner Pope (Joint Broker)
James Pope/Andrew Thacker +44 20 3657 0050
BlytheRay
Tim Blythe / Megan Ray +44 20 7138 3204
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END
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