I cannot refute what you are saying. The finance is the issue.
The project is ready to go.
All points well made.
CREC have positioned themselves well in this deal.
It is time for CREC to put in equity or remove themselves from the process and dissolve any MOA's.
I like the project from an Australian perspective and in particular what it would do for that region of SA.
Its a great site with a great financial feasibility.
I do not know of any other shovel ready mining project.
The Iron Road board have dedicated years of their lives to seeing this project through.
I have faith in the Board and in particular Andrew Stocks, Glen Chipman(Equity/merchant banking background) plus other Directors and Larry Ingle as GM.
Lets hope they can use whatever negotiation they can to get this over the line.Glen Chipmans role in this is pivotal as he is also a Sentient representative and also has a finance/equity background.
From 27 March 2018 company announcement:
Mr Chipman is a private equity investment professional at Sentient Equity Partners and represents Iron Road’s major shareholder, the Sentient Global Resources Funds. Prior to joining Sentient in 2012 he was a sell-side analyst with Bank of America Merrill Lynch and Citigroup. Mr Chipman has a chemical engineering background and over 15 years of combined industry, commodity and equity capital markets experience.
Given Glens role and experience I would be surprised if other financing avenues are not being reviewed. Its just CREC opted in first so have been given first option.Its time for CREC to say YES or NO to financing this project.
If CREC say no in next few weeks to putting in equity, I suspect the project may be delayed whilst it resets its sights for other finance options. For how long is the 4billion dollar question
Good luck to all shareholders.
IRD Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
