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Ironbark Zinc major shareholder further boosts holding in base metals developer

Non-executive director Danny Segman has acquired shares valued at more than $47,000 on-market and now holds almost 137 million shares in two indirect interests.

Ironbark Zinc Ltd - Ironbark Zinc major shareholder further boosts holding in base metals developer
Results of a scoping study for the Citronen Zinc-Lead Project are expected this month

Ironbark Zinc Limited (ASX:IBG) major shareholder and director Danny Segman continues to support the company’s base metals strategy centred on Greenland with on-market share purchases.

Between January 29 and 31 the non-executive director acquired more than 3.916 million shares valued at more than $47,000 in two indirect interests - Dulyne Pty Ltd and Toronga Pty Ltd.

Of the total, Dulyne acquired a further 1 million and now holds 67 million ordinary shares.

The remainder, more than 2.916 million, were acquired by Toronga, which now holds almost 70 million shares.

Series of on-market purchases

During January, Segman made a series of on-market purchases lifting Dulyne’s holding from 61 million at the end of 2019 and Toronga’s holding from 65.5 million.

Ironbark Zinc has recently reaffirmed its focus on the flagship Citronen Zinc-Lead Project in Greenland by trimming its exploration tenure.

Seven exploration licences were relinquished that had a minimum annual required expenditure commitment of $3.95 million, freeing up to be allocated towards developing the Citronen project.

The company expects to complete a scoping study shortly based on a 1 million tonnes per annum operation at the project in Greenland’s south.

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ASX:IBG
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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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