Trading in Ironveld will kick off on AIM at 08:00 on Thursday, August 16th, after the reverse takeover of Mercury Recycling was formally approved at a general meeting of shareholders.
The group, which raised £3.0m through a share placing to fund exploration and development work within the Bushveld complex in South Africa has refashioned itself as a developer of iron ore projects.
Bizarrely, the group faced a challenge to its ownership rights over the iron ore assets it recently acquired in the Northern Limb of the Bushveld Complex in South Africa from two individuals claiming to represent a local tribe.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The tribe is purporting to have certain occupancy rights over the land. M'learned friends beg to differ - or, at least the ones retained by Ironveld do - and Giles Clarke, a non-executive director of Ironveld, described the letter as "completely spurious".
JH
-
Ofgem proposes new energy tariffs with low or no standing changesStanding charges have invited public backlash as households battle high energy bills
-
Google shares bounce on Gemini 2.0 launchGoogle has launched the latest version of its Gemini AI platform, and markets have responded positively. Is it time to buy Google shares?
