Good morning.
Iron Road quarterly results have been released last week and I saw some positive news.
Key Stakeholder loan support has been since Dec 2017 support till match 2019.
Progress has been made with China Rail.(CREC). They met with them, talked high level implementation plan and have agreed on strategy. CREC have left SA requesting further information for their equity position discussions internally at CREC. Further internal CREC discussion happening in the next few weeks so we may know something within a month a bout their equity stake or not. That's the biggest piece of news I got from quarterly results. This is truly exciting and a worry at the same time.
The next quarter for Iron Road will tell us shareholders a lot about the direction of our investment..
They have enough cash to get to March 2019 or at lease have support to get this far from their major shareholder who is providing an interest free loan.
The management have been diligent in reducing costs structure down now that they are shovel ready and waiting on CREC to make their decision on whether they will finance/put equity into the project. I note IRD are looking at other funding options also which is wise given the hard bargain CREC would drive if they knew they were the only ones negotiating.....
Good Luck to all Holders.
The long term management and shareholders deserve a great outcome.
IRD Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
