New announcement just out by Ironclad. More High Grade Manganese discovered. Hercule North & East. And more drilling to commence 2nd Quarter to drill out and delineate the High Grade Manganese Resource. The arrow from Management is to drill it out these leads and structures, bring a JORC Inferred and Indicated Resource in Reserves to market, then follow up with subsequent, Scoping studies. Then Offtake Agreements..
Financing news discussions are happening but "delayed" with a number of parties. This looks now to be put back many months. I guess it is a wait and see scenario until Iron Ore & Manganese Prices run again possibly mid year, of which they can possibly "ink the deal" with a upfront "Offtake Agreement". Good to see Management being very prudish and consider a number of options considering the difficulty of current market conditions at the moment.
TRF Price at posting:
7.0¢ Sentiment: LT Buy Disclosure: Held
