Its hard what to make of Iron Road. They seem to be going full speed ahead with the drilling and studies, yet the SP has done nothing but head south. They will run out of money within 3-4 months...Will the sentient group step up again to hand over another 30-40m?
The cost of the CEIP is huge. The gawler project i can't find any costings, but that one seems like it is in its early stages too...
So to me it looks like Iron Road is still very far away from realizing any projects into developement, yet they have a cash burn rate of a company many multiples its size....Where is the end game?
IRD Price at posting:
19.7¢ Sentiment: None Disclosure: Not Held
