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
-
Trump wants to colonise Mars – will it happen?Donald Trump wants to plant the US flag on Mars. Could humans really live there?
-
Klarna postpones US IPO as Trump's tariffs rattle marketsBuy-now-pay-later lender Klarna has postponed its US initial public offering owing to the market turbulence. It is not alone, says Matthew Partridge
