Ghana: IronRidge Resources Expands Lithium Project Portfolio

The mining group, listed on the London Stock Exchange and already active in lithium in Ghana, has just broadened its portfolio of projects by acquiring 100% of the capital of Joy Transporters. In return, the company will issue 2.36 million of its shares at a price of 22.5 pence each, a significant premium to its current share price. This acquisition gives the group full control of the Cape Coast project as well as access to the new Saltpond project. This is a particularly promising land package adjacent to the Ewoyaa area, which hosts a mineral resource of 14.5 million tonnes grading 1.31% lithium oxide (Li2O) and where the group is currently conducting drilling operations. Low-cost regional exploration programs are also underway (reconnaissance mapping, trenching in the Saltpond permit, environmental and social studies, etc.) in this part of the Ghanaian coast, which is also ideally served and equipped with infrastructure. Thanks to this high-potential acquisition, the company could eventually integrate all of its assets into a large lithium complex.