Iron Road (IRD) investor relations material

Executive summary

• Mining Lease and primary approvals for the Central Eyre Iron Project (CEIP) are being preserved to support future investment and development.

• Corporate expenditure reduction measures have been implemented to facilitate asset preservation and maintain optionality for strategic landholdings.

• Management is focusing on project acquisition and vend-in opportunities to broaden interest and raise investment appeal.

Financial highlights

• Cash reserves at quarter end were $0.86 million, with no debt.

• June quarter exploration and evaluation expenditure totaled $568k, mainly for Mining Lease Rental and TAU-A drilling preparation.

• Payments of $174k were made to executive and non-executive directors during the quarter.

• Sale of surplus fixed assets raised $388k.

• Net cash used in operating activities for the quarter was $859k.

Outlook and guidance

• The company expects to continue operations and meet business objectives through future fundraising and expenditure reductions if necessary.

• No formal steps to raise further cash have been taken yet, but property sales and potential share placements are being considered.