Iron Road (IRD) Q1 2027 TU earnings summary

Executive summary

• CEIP approvals, mining lease and intellectual property remained in good order; engagement with interested parties continued during the September quarter.

• TAU-A nickel-copper-gold target drilling began on 25 September after rain and flooding delayed the planned late-April start.

Financial highlights

• Cash and cash equivalents were $1.205m at quarter-end, up from $857k; net operating cash outflow was $352k and net investing inflow was $702k.

• Sale of surplus Cape Hardy Allotment 4 generated $719k; September-quarter exploration and evaluation expenditure was $37k.

• Net cash decrease/increase reconciliation included $2k financing outflow; quarter-end cash was $1.205m, with no debt.

Outlook and guidance

• Composite drill samples are undergoing laboratory analysis; results and other data will inform next steps at TAU-A.

• Management continued assessing domestic and offshore farm-in, project acquisition and vend-in opportunities, and engagement with parties interested in CEIP/Cape Hardy.

• Reported cash supports an estimated 3.3 quarters of funding based on relevant quarterly outgoings of $369k.