- Iron Road (IRD) has entered a trading halt ahead of a capital raise
- Iron Road owns the Central Eyre Iron Project which is a long-life iron ore mining operation in South Australia
- The company is currently progressing due diligence work at the project as part of its goal to export high-quality iron concentrate
- At this stage, it isn’t clear how much the iron producer is looking to raise or what it will use the money for
- But it will only remain in a trading halt until Monday, May 3
- Company shares last traded at 29 cents on Wednesday, April 28
Iron Road (IRD) has entered a trading halt while it plans a capital raise.
At this stage, it isn’t clear how much the iron producer is looking to raise or what it will use the money for.
However, it will only remain in a trading halt until Monday, May 3, at the latest.
Iron Road owns the Central Eyre Iron Project which is a long-life iron ore mining operation in South Australia.
Earlier this month, the company announced it is progressing due diligence activities at the Central Eyre Iron Project.
Most recently, these activities included sending off a drill core sample to Australian representatives of a major Asian steel producer and industrial manufacturer.
Iron Road plans to export 20 million tonnes per annum of high quality iron concentrates for at least 30 years. Eventually, the company wants to expand this by an additional 50 million tonnes per annum.
Company shares last traded at 29 cents on Wednesday, April 28.