Iron Road Ltd (AU:IRD) has released an update.
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Iron Road Ltd has announced the reception of a $1.5 million milestone payment from Amp Energy after securing Foreign Investment Review Board approval for a land purchase option, with further payments totaling $3 million expected by the end of Q4 2024. The payments are part of non-dilutionary funding for the development of the Cape Hardy site, which is integral to South Australia’s State Prosperity Project and green iron and steel strategy. Additionally, Iron Road is exploring a slurry pipeline for transporting iron concentrate, aiming for a more cost-effective alternative to traditional transport methods.
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