$40m raised. Huge CAPEX - the placement was a blessing in retrospect.
"Many of our shareholders would have noted the decline in iron ore spot prices in the latter half of calendar year 2012 and the associated impact on our iron ore peers. Iron Road itself was not immune to this impact, with a degree of confidence and share prices declining across a range of emerging and low to mid-tier iron producers. We have planned conservatively with respect to our iron ore price forecasts and will continue to do so. Rest assured that the viability of CEIP is predicated on a project with a life spanning at least 30 years, not a quarter or two of iron ore spot prices. We are confident in the long term viability of CEIP under a range of iron ore pricing assumptions and intend to continue to instil this confidence in the market."
IRD Price at posting:
26.9¢ Sentiment: LT Buy Disclosure: Held
