Dear Hummms
I think your analysis is spot on.
Iron Road Execs have hung in for years, believe in the site for magnetite with proven 20m tonne p.a.
The finance is being negotiated has been the sticking point .
CREC -Chinese have spent many months in SA going over contracts, options for equity stakes etc and are doing their usual squirrel grip in negotiation. The ecuse of Chinese government regulation can only be sued for a period of about 12 months before we don't believe it.
The Iron Road Execs will have a plan B but I can understand why China may get first rights.
Sentient are a great supporter of the project and Iron Road Execs should be congratulated for taking what was just a prospect and made this into a real shovel ready opportunity.
I am a holder and at these current low share prices a purchaser and will wait for the next announcement.
The date of March 2019 was highlighted in Iron Road announcements where finance to Sentient will be repaid so I can only assume that Iron Road are working towards end of 2018 to have finance decisions and allowed themselves 3 months float to cover all bases.
I am a big supporter of the management team led by Andrew Stocks that has been at Iron Road. They have never wasted funds received by shareholders and wish them all the luck in getting the finance they need to get this mine going.
It will be a very interesting 6 months and if they get finance you will NEVER see this kind of prospect at 10 cents a share ever again.
PS- no this is not Andrew Stocks - haha
IRD Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
