Ironveld converts consultant fees to shares

Ironveld, the owner of a high purity iron, vanadium and titanium project on the northern limb of the Bushveld Complex in Limpopo Province, South Africa, announced on Thursday that arrangements have been made with a consultant to convert fees payable for services into new ordinary shares of 1p in the company.

The AIM-traded firm said it has approved the conversion of £180,563.70 - representing amounts of fees owed to consultants - into 3,801,341 new ordinary shares, issued at a price of 4.75p per share.

“Application has been made for the 3,801,341 new ordinary shares to be admitted to AIM and dealings are expected to commence on 7 February,” the board said in a statement.