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Iron Road Ltd ( (AU:IRD) ) has issued an announcement.
Iron Road Ltd has entered into a Farm-In agreement with Red Tiger Resources Ltd for the exploration of heavy mineral sands in South Australia’s EL6580 area. This agreement allows Iron Road to invest between $250,000 and $350,000 initially, with the potential to earn a 51% interest in the project, which is strategically located near recent significant discoveries. The project is seen as a complementary opportunity to Iron Road’s existing operations and could enhance its market positioning by diversifying its mineral exploration portfolio.
More about Iron Road Ltd
Iron Road Ltd operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily involved in iron ore projects, with a strategic focus on the Central Eyre Iron Project (CEIP) and a significant landholding on Eyre Peninsula, South Australia.
Average Trading Volume: 144,316
Technical Sentiment Signal: Sell
Current Market Cap: A$27.35M
See more insights into IRD stock on TipRanks’ Stock Analysis page.