I was involved in some discussion with IRD, on the Iron ore project a couple of years ago when I though it had potential to use some services I was associated with. Some good people, but seriously poor fundamental topology of the resource, proposed export port and distance to market.
I think it will not happen in any forseeable future, because of the high cost of electricity in that region, and the mainstay CEO leaving recently.
They were depending on goodwill of Chinese investors, on back of Sino Iron project in WA, which exports ore processed close to shoreline.
With dispute between Clive Palmer and Sino Iron, and recent events, mistrust will be at all time high.
IRD Price at posting:
4.8¢ Sentiment: None Disclosure: Not Held
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