IronRidge Resources well cashed up at year end, and continuing to build value in West Africa

Drilling is continuing on the Zaranou gold project in Cote D'Ivoire

Geodrill - IronRidge Resources well cashed up at year end, and continuing to build value in West Africa

Ironridge Resources Ltd (LON:IRR) returned a loss before tax of A$6.4mln during the year to 30 June 2020.

At the year end, the company had A$7.3mln in the bank, enough to carry it through significant work programmes on its gold and lithium assets in West Africa, especially since it’s also running a drill-for-equity programme with GeoDrill.

"This year has seen sustained progress for IronRidge as we continue to make great strides in the development and exploration of our gold and lithium assets, despite global challenges,” said chief executive Vincent Mascolo.

"The company's flagship Zaranou gold project continues to deliver exceptional high-grade drilling results across the project area, and with only 10% of the shear zone tested, we have great optimism for the further exploration of the project. The third phase of our drilling programme commenced earlier this month.”

 Meanwhile, the company’s Ewoyaa lithium project now boasts a resource of 14.5mln tonnes grading 1.31% Li2O.


Quick facts: Geodrill

Price: 1.75 CAD

Market: TSX
Market Cap: $77.71 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Vox Royalty to acquire vanadium royalty on one of the 'highest grade,...

Vox Royalty Corp. (TSXV:VOX) Executive Vice President Riaan Esterhuizen tells Proactive the group intends to acquire a royalty over a portion of Bushveld Minerals Limited's (LON: BMN) South Africa-based Brits Vanadium Project for US$2,000,000. Esterhuizen says Bushveld's Brits Vanadium...

8 hours, 1 minute ago

2 min read