Iron Road Ltd T.IRD

Primary Symbol: IRNRF

Steel Steel

Iron Road Limited is an Australia-based mineral exploration company. The principal activity of the Company includes exploration and evaluation of the iron ore interests at the Central Eyre Iron project in South Australia including pursuit of business development opportunities associated with the Cape Hardy port site and industrial precinct. The Company’s projects include the Central Eyre Iron project and Gawler Iron project. The Central Eyre Iron project is located on the Eyre Peninsula of South Australia and is a collection of three iron occurrences, such as Warramboo, Kopi and Hambidge. The Gawler Iron project is in South Australia, located along the eastern margin of the Great Victoria Desert some 200 kilometers southwest of Coober Pedy. The Gawler Iron project area covers 3380 square kilometers (km2) and includes over 10 areas of known iron occurrences, including the Mt Christie deposit. Its subsidiaries include IRD Port Assets Holdings Pty Ltd and IRD Port Assets Pty Ltd.

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Iron Road Ltd

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Post by summit4on Oct 08, 2008 4:45pm

389 Views

Post# 15514656

Financials reviewed

I read through the last 3 financial reports and ended up buying a few more shares. Although sales dropped 17% in each of the previous 2 quarters the backlog as of May 31 was actually up 16% year over year. Shareholders equity dropped minimally from $1.20 to $1.18.

Working Capital was at $4.9M at the end of May.

I could only surmise that this death spiral the shares seem to on was just a product of the markets in general and has little to do with the viability of the company.

Today the shares traded flat at $0.43C and it seemed there was pretty good support (on the buy side 17000 at $0.42 10000 at $0.41 10000 at $0.40 10000 at $0.39 and 50000 at $0.37)

I hope I am not missing any crucial information..

Good luck to all

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