Ironveld PLC Reports Interim Results and Strategic Progress

Ironveld ( (GB:IRON) ) has shared an announcement.

Ironveld PLC announced its interim results for the six months ending December 2024, highlighting a successful £2.5 million fundraising and progress in its DMS Magnetite plant and smelter facility projects. The company increased its equity stake in the DMS Magnetite project to 50% through a renegotiated joint venture agreement with Sable Platinum Holdings. Ironveld is on track to commence commercial production of DMS Magnetite in April 2025, with plans to produce market samples of high-purity iron powders to secure offtake agreements and further funding. Despite a recorded loss before tax of £689,000, the company is optimistic about its future growth and market demand for its products.

More about Ironveld

Ironveld PLC operates in the mining industry, focusing on the extraction and processing of high purity iron, vanadium, and titanium from its project located in the Bushveld Complex, South Africa. The company is involved in the production of DMS grade magnetite, high-purity iron powders, vanadium slag, and titanium slag, with a strategic emphasis on expanding its market presence and production capabilities.

YTD Price Performance: -5.00%

Technical Sentiment Signal: Buy

Current Market Cap: £5.29M

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