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Basher: Two of the Directors have put funding in place to allow Iron to operate for at least another 3 months. I suspect they would not have gone to this trouble had they anticipated receipt of the Grosvenor funds imminently. Would be delighted to be proved wrong.
A good New Year to you Sharegar.
May I take it from your post, that the recent statement from the independent Auditors gives you little cause for concern .
"Material uncertainty related to going concern
We draw attention to note 2.2 in the financial statements, which indicates that the Company has not to date
received the agreed subscription proceeds from Grosvenor Resources (Pty) Limited announced on 22 October
2021 but that the Company has received confirmation from two directors of a Loan Facility of up to £200,000 to
enable it to meet its existing monthly overheads as they fall due. Until such time as the subscription proceeds are
received from Grosvenor there is a material uncertainty in relation to the company’s funding arrangements that
may cast significant doubt on the group’s and company’s ability to continue as a going concern. Our opinion is
not modified in respect of this matter.
I would be interested in your thoughts. GLA.
Private investors being treated like mushrooms yet again. You can bet that John Wardle at Tracarta knows exactly what is going on and why this transaction is now almost two weeks late in completing. Sorry, but Tweets don't cut it with me.