Advanced Analysis Free Trading Signals Real Time Alerts
Practice Stock Trading Your capital is at risk

IronRidge Shares Climb On Positive Ewoyaa Lithium Project News

Updated: 20 Apr 2021

Shares of IronRidge Resources (LON: IRR) are trading higher on Tuesday after the company reported additional high-grade lithium pegmatite drill intersections, including multiple drill intersections over 2% lithium oxide at a new target adjacent to the Ewoyaa Lithium Project in Ghana.

IronRidge’s share price is up 0.93% at 21.1p per share heading into London's last hour of trading.

The drilling program is designed to test multiple new targets identified through the company's recent and ongoing auger drill program.


The company's current JORC (2012) compliant mineral resource is estimated to be around 14.5 million tonnes at 1.31% Li2O.

Commenting on the progress, IronRidge CEO Vincent Mascolo said: “Given the resurgence in the EV and stored energy space, spodumene concentrate pricing is increasing and forecast to climb significantly which bodes well for improved economics for the Ewoyaa Lithium Project.

“The project is well leveraged to spodumene concentrate (“SC6”) pricing; it is estimated that every US$25/t SC6 price rise results in an additional US$60m to the post-tax NPV over an 8-year mine life and an additional US$75m to the post-tax NPV over a 10-year mine life.”

Should you invest in IronRidge Resources shares?

Omega Diagnostics shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Omega shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 68 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .