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IRD - Iron Road

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cxm have mag expl target about a half/third of ird

ird have no jv partner yet

wisco (wuhan) have jv 's with 3 other sa fe's - cxm, wpg, ife

at cxm's lo-ball $0.18 p/t, 4Bt x .18 = $720M (cxm agreed to a price of $0.18 p/t for up to 1Bt, no charge for in excess of 1Bt)

ird have approx 101M shares/options all up, current sp $.56, MC approx $56.9M

they also have more extensive tenements elsewhere in SA, prospective for Fe as well as tenements in WA

any other fe jnr's with expl target of 4 billion tons mag

cheers :)

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ann out this morning on ird's other sa tenements, the west gawler fe project, re rock chip samling, av fe 53.4%

up a delightful 300% since just before drilling results released less than 2 months ago

cheers :):):)

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New to the forum,

But i have been holding Ird for some time now and am quiet happy to hang on for some time more!

i got an email from comsec about their release and it was the first stock i watched all the way down to 5c i then bought around 30c or so. and then again around 55c

:)
 
Up around 25% already today? on no news?

it has been going up for a few weeks now with zero to little volume traded..

is anyone else holding this?
 
MC - $48m
SP - 30.5c
Shares - 161m
Options - Nil
Cash - $6.5m

FULLY UNDERWRITTEN $40M CAPITAL RAISING TO CONTINUE DEVELOPMENT OF EXPANDED CENTRAL EYRE IRON PROJECT
Iron Road announced a fully underwritten 31-for-40 accelerated non-renounceable entitlement offer of new Iron Road shares at an offer price of $0.32 per New Share to raise approximately $40 million. The Entitlement Offer comprises an institutional component and a retail component . The Entitlement Offer is fully underwritten by CIBC Australia Ltd.
Funds raised from the Entitlement Offer will be used to continue the significant progress made to date on the Definitive Feasibility Study (DFS) for the expanded Central Eyre Iron Project (CEIP), which is evaluating annual production of 20 million tonnes of premium iron product as well as initiating associated land acquisitions.
Iron Road will also devote funds from the Entitlement Offer to the completion of a scoping study for the smaller Gawler Iron Project, which may offer the opportunity for development of an initial revenue generating project, ahead of the CEIP.
Highlights
● The ongoing DFS work includes evaluation of an expanded production profile for CEIP which offers significant scope for operating cost reduction and reduced unit cost per installed tonne of export capacity.
● Gawler Iron Project offers potential for development on a shorter timeframe than required for CEIP.
● High calibre team now in place enables Iron Road to grow the company’s iron ore business.
● Entitlement Offer fully underwritten by CIBC Australia Ltd, a wholly owned subsidiary of Canadian Imperial Bank of Commerce, a major Canadian chartered financial institution.
● The Retail Entitlement Offer is fully sub-underwritten by major Iron Road shareholder, and private equity resources fund, the Sentient Group.

Central Eyre Iron Project
● Stage VII drilling programme at ‘Rob Roy’ completed, confirming strike continuity of the orebody to the east and the Stage VII Extension drilling programme commenced.
● Exploration target for Stage VII ‘Rob Roy’ drilling programme was increased from 400-700Mt to 700-900Mt magnetite gneiss with a grade of 16-18% iron estimated1.
● Definitive Feasibility Study (DFS) activities continued to advance engineering for the mine, process plant, tailings storage and major infrastructure facilities. Proposals for study services were received for utilities, support and ancillary facilities.
● 1,100m of PQ size core submitted for comminution and beneficiation tests along with quantitative mineralogical characterisation.
● Completion of 26 geotechnical boreholes and 32 trenches.
● Dynamic simulation of ore treatment and concentrate handling has advanced to select or confirm sizes of major equipment to deliver 20Mtpa of concentrate.
● Community engagement continued, including Focus Group meetings with community, business and District Council participants.

Gawler Iron Project
● Initial assay results from Stage II diamond drilling programme received. Core samples selected for petrological studies to define ore types, host rock mineralisation to facilitate final design of metallurgical studies.

Corporate
● Iron Road secured 90% of the iron rights at Gawler with final cash payment of $1.15M.
● Exploration Licence 4849 (Warramboo) was granted over former Exploration Licence 3699 for a further term of two years.
 

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Watching IRD closely. After retreating back to 18c last month IRD has fired up again and is back trading between 30c and 35c. Volume has fallen off and it is in a consolidation phase at the moment.

Supply appears to be limited and it looks to be primed to make another strong move. My guess is it will be up. Time will tell.

big.chart-IRD.gif
 
Iron stocks slowly reacting to rising iron price.
(Watching LCY tomorrow)

This chart looks ok I thought?

Screenshot_20220406-205125.png
 
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