# IRD: Quarterly Activities and Cashflow Report 30 September 2026 Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/ird-quarterly-activities-and-cashflow-report-30-september-2026--5955618b-7913-4dac-a726-05f8f9682e0d Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03152012 Publisher: asx Original announcement: 2026-10-13T21:45:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-13T22:21:22.091Z Atlas analysis updated: 2026-10-13T22:21:22.091Z - Company: Iron Road Ltd - Ticker: IRD - Exchange: ASX - Region: South Australia - Primary commodity: Iron ore - Secondary commodities: Nickel, Copper, Gold - Document categories: Other, Drill results - Extracted: 2026-10-13 22:21:22 UTC Narrative sentiment: 0.10 · Bullish ## Minestarters Atlas summary Iron Road Ltd reported its September 2026 quarterly activities, noting the commencement of RC drilling at the TAU-A target with assays pending. The company saw a major shareholder exit and the announced retirement of CEO Larry Ingle, while maintaining a cash balance of $1.21 million. Reasoning: Quarterly activities report providing a high-level summary of cash flow, corporate changes, and progress on exploration targets without new assay results. - Positive factor: Cash reserves of $1.21 million - Positive factor: Sale of non-core Allotment 4 raised $719k - Positive factor: No debt - Negative factor: CEO retirement announced - Negative factor: Major shareholder Sentient Equity Partners exited position - Negative factor: Exploration expenditure was low \($37k\) Facts used in scoring: 3 ## Classification and evidence **Infill Drilling** Polarity: neutral Story-specific tag Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The drilling at TAU-A is part of ongoing exploration activities to test a target. Evidence · text > Field drilling activities to test the TAU-A target... commenced on 25 September 2026. ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Drill Results (3) ### RCDH01 [Link to this fact](https://atlas-staging.minestarters.com/news/ird-quarterly-activities-and-cashflow-report-30-september-2026--5955618b-7913-4dac-a726-05f8f9682e0d#fact-drill-facts-0) Mulgathing · nickel #### Identity - Hole ID: RCDH01 - Project: Mulgathing - Commodity: nickel - Region: australia\_sa - Reported Region: australia\_sa - Ticker: IRD #### Geometry - Intercept: 156 m #### Classification - Program: exploration - Sample Type: drill #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Drill hole completed but assays are currently undergoing laboratory analysis; no grades reported. Evidence · text > Three RC drill holes were completed- RCDH01 to 156m, RCDH02 to 132m and RCDH01 to 176m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### RCDH02 [Link to this fact](https://atlas-staging.minestarters.com/news/ird-quarterly-activities-and-cashflow-report-30-september-2026--5955618b-7913-4dac-a726-05f8f9682e0d#fact-drill-facts-1) Mulgathing · nickel #### Identity - Hole ID: RCDH02 - Project: Mulgathing - Commodity: nickel - Region: australia\_sa - Reported Region: australia\_sa - Ticker: IRD #### Geometry - Intercept: 132 m #### Classification - Program: exploration - Sample Type: drill #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Drill hole completed but assays are currently undergoing laboratory analysis; no grades reported. Evidence · text > RCDH02 to 132m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### RCDH01 [Link to this fact](https://atlas-staging.minestarters.com/news/ird-quarterly-activities-and-cashflow-report-30-september-2026--5955618b-7913-4dac-a726-05f8f9682e0d#fact-drill-facts-2) Mulgathing · nickel #### Identity - Hole ID: RCDH01 - Project: Mulgathing - Commodity: nickel - Region: australia\_sa - Reported Region: australia\_sa - Ticker: IRD #### Geometry - Intercept: 176 m #### Classification - Program: exploration - Sample Type: drill #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-13T00:00:00.000Z Reasoning: Drill hole completed but assays are currently undergoing laboratory analysis; no grades reported. Evidence · text > RCDH01 to 176m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.