- Minerals exploration company IronRidge Resources said it had completed the acquisition of Capri Metals.

The acquisition would give the company full ownership of the three licenses - Vavoua Nth, Vavoua Sth and Gboguhe - collectively known as the Vavoua Portfolio, providing 'IronRidge with access to exclusive rights to an extensive tenure package adjacent to the 2.15Moz and growing Abujar deposit,' the company said.

Under the terms of the deal, the company issued 572,656 shares at 22p per share to CAPRI's former shareholders.

The deal had been long in the making.

On 12 April 2017, the company said it had entered into earn-in arrangement with Enchi Proci for the Gboguhe license, under which IronRidge had rights to acquire 100% of the projects with each entity of which 50% could be acquired for US$2.5m at any time.

At 10:04am: [LON:IRR] Ironridge Resources Limited share price was +0.6p at 10.1p

Story provided by