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.
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.
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.