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Ironbark Zinc Ltd

Ironbark Zinc has clear path to seek partners for Citronen financing and development

An arbitration tribunal has dismissed Glencore International’s claim against Ironbark.

Ironbark Zinc Ltd - Ironbark Zinc has clear path to seek partners for Citronen financing and development
The company is focused on building a financing solution for the project

Ironbark Zinc Limited (ASX:IBG) has a clear path to seek partners to assist in financing and developing the world-class Citronen base metals project following resolution of arbitration proceedings.

These proceedings between Glencore International AG (LON:GLEN) and Ironbark have concluded with Glencore’s claim against Ironbark dismissed.

The decision paves the way for Ironbark to speak with potential financing and project partners around the world.

Considerable interest

There is considerable interest in the Citronen project in Greenland, which hosts one of the world’s largest zinc resources supported by lead.

The wholly-owned base metal project hosts in excess of 13.1 billion pounds of zinc and lead with the resource remaining open.

Ironbark is fielding interest towards the core focus of building a financing solution for the project and is working with the assistance of Cutfield Freeman & Co in discussions with relevant groups.

Ongoing discussions

These discussions remain ongoing and subject to confidentiality agreements.

The company has achieved everything that it has sought to complete in the journey toward development of the project and is striving to achieve the next financing step in its aspiration to become a major mine operator.

Citronen is permitted under a 30-year mining licence and boasts a positive completed feasibility study.

Adding to the project’s qualities are the low sovereign risk in Greenland, the simple process to be adopted which provides a quality product and a strong zinc market supported by exceptionally low levels of zinc warehouse levels.

Quick facts: Ironbark Zinc Ltd

Price: $0.02

Market: ASX
Market Cap: $16.07 m
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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

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