However, even with that enormous amount of iron ore, which is expected to take 20 to 30 years to mine, the company struggled to get regular coverage in the traditional press.
Those followers value the content so much that they sent Iron Road’s tweets to more than 130,000 a month.
Social media really proved its worth for Iron Road at an investor conference. After spending tens of thousands of dollars on flights and accommodation in Sydney for 3 executives plus conference fees, a disappointing number of investors attended the conference.
Iron Road completed an $11.5 million raising to begin acquiring land and funding its definitive feasibility study 6 months after it began its Twitter campaign. It has since raised another $40 million and $51 million is separate tranches.
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