Ironbark Zinc (ASX: IBG) has received a notification from specialist fund manager L1 Capital Pty Ltd that it has acquired a further 426,332 shares on 29 April for $111,411 at $0.26 per share.
L1 Capital’s stake has increased to 11.99% or 44,158,871 shares, up from previous 10.88% or 40,064,982 shares.
Ironbark's Citronen deposit in Greenland currently hosts in excess of 11 Billion pounds of zinc (Zn) and lead (Pb). The current JORC compliant resource for Citronen is 59.9 million tonnes at 5.9% zinc (Zn) + lead (Pb).
At March quarter end, Ironbark was in a strong financial position with $17.6 million cash and no debt.
Ironbark is progressing the Feasibility Study of the Citronen base metal project as a major base metal mine.