S, To date capital raisings have been made direct to US institutions. I think this one will be along the same lines and allow the institutions to average down.
I would love to see an opportunity for the retail shareholder to participate but the reality is that it involves underwriters and fees and in fact only 50% of retails shareholders will take up because they are risk adverse.
The capital raising could be used to pay for 15% of the in ground value of the ore that is X DOM and now KCN at Barton. Supposed to be a small direct shipping ore cap then a useful magnetite deposit.
The shares are a bargain price now so buy more on market !
IRD Price at posting:
57.0¢ Sentiment: LT Buy Disclosure: Held
