Mercury Recycling becomes Ironveld
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.
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
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published