IMO the market is discounting any small cap stocks that require funding.
IMO IRD is in a VERY strong position with their current resource and the continued drilling program will strengthen that. The most important thing for them in the next 9-12 months is the DFS.
The quarterly released on 30/1 suggested that they have >$9m in cash. This is enough to fund the drilling/exploration but not enough to get them through the DFS.
I am hoping to see some clarity around how they will finance the DFS and following on from that it would be nice to get some idea of how they will proceed (and who with) in building the mine and a clear pathway to production. If/when this happens (IMO) expect to see a partner announced who will take all the offtake and provide a large chunk of the financing required to get the mine built.
I think it's going too be a very important 12 months ahead.
It's not without its risks but that suits me, I am a believer and as such a long term holder!
IRD Price at posting:
53.0¢ Sentiment: LT Buy Disclosure: Held
