Iron Road (ASX:IRD) declined further extensions to the option period to purchase the first of three land parcels at Cape Hardy in South Australia following the grant of extensions totaling nine months to a Revera Energy subsidiary, according to a Friday filing with the Australian bourse.

The option to purchase the area was exercisable by Revera Energy for AU$1 million, the filing said.

The land formed part of the 604-hectare footprint reserved by Revera Energy to host its proposed Cape Hardy project.

The parties failed to negotiate alternative commercial terms in respect of the area after definitive sunset dates for each of the land parcels were finalized at the end of August 2025, per the filing.