share price, page-10

Does anyone know where the selling is coming from?

Can we only assume they are flogging it to participate in the capital raising?

I doubt it's Sentient, Columbia, management, other insto's <5%... so it bemuses me as to who is selling and why?

Ridiculous time to be selling this story, now that the PFS for stage 1 has the tick of approval (annd is 2.4mtpa better than we expected), even in light of a placement there are still many catalysts in the short term that will drive the price:
- Continued reserve upgrades
- Project development partner announced
- Off-take agreement
- BFS for stage 1
- PFS stage 2 (>20mtpa)

This is a good long term story that is being severely knocked around by il-liquidity in a poor market.

Reasons to own IRD:
- Iron ore story is still strong even when iron ore prices pull back to long term averages
- project could potentially produce >20mtpa
- Great management team (proven)
- Very good registry: Sentient ~29.5% (were largest shareholders in QGC, Andean etc), Management >10%, Columbia University (NYC) ~5.4%, I am led to believe another Ivy league US university is sitting just below the 5% threshold.