logo-loader
Ironbark Zinc Ltd

Ironbark Zinc board members take max amount in SPP

The company recently commenced a study evaluating a less capital intensive, high-grade starter mine operation for the Citronen Base Metals Project in Greenalnd.

three empty board seats
Multiple board members have purchased company shares during July 2019

Ironbark Zinc Ltd (ASX:IBG) board members Peter Bennetto, Gary Comb, and Danny Segman have all taken up their maximum subscription in the recent share purchase plan (SPP).

The maximum amount able to be subscribed for under the SPP is 1 million shares for a value of $15,000.

This increased chairman Peter Bennetto’s holding to around 4.3 million shares, and non-executive directors Comb’s and Segman’s holdings to 3.6 million and 110.5 million shares respectively.

The SPP subscriptions follows a number of on-market purchases by directors recently including Segman’s purchase of over 1 million shares throughout July 2019.

READ: Ironbark Zinc director Danny Segman buys more shares on-market

Recently, Ironbark engaged a mining consultant to consider a high-grade smaller starter mine at its Citronen Base Metals Project in Greenland.

This less capital intensive revised model would see a much smaller initial operation developed with a targeted 1 million tonnes per annum (Mtpa) production rate.

While this avenue is evaluated, Ironbark reiterates that encouraging discussions surrounding the development of the current 3.3Mtpa planned and permitted feasibility study remain ongoing.

READ: Ironbark Zinc commences study on high-grade starter mine

A similar approach was employed by Galena Mining Ltd (ASX:G1A) which originally had a large low grade resource with a very similar grade-tonnage curve to Ironbark.

Galena successfully revised their historical plans to a new high-grade operation.

Quick facts: Ironbark Zinc Ltd

Price: $0.02

Market: ASX
Market Cap: $15.22 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ironbark Zinc Ltd named herein, including the promotion by the Company of Ironbark Zinc Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Ironbark Zinc demonstrates 'proof of concept that derisks the project in a...

Jonathan Downes, managing director of Ironbark Zinc Ltd (ASX:IBG), speaks to Proactive Investors about development of the Citronen Zinc-Lead Project in northern Greenland, as the emerging producer announces hitting the milestone of demonstrating shipping access. A mining services...

on 3/9/18

2 min read