Ironbark gets funds to find financing

IRONBARK Zinc is undertaking a A$6 million capital raising as it homes in on the 2018 development of Citronen, its long-awaited zinc-lead “colossus” in Greenland, Citronen.

Ironbark gets funds to find financing Ironbark gets funds to find financing Ironbark gets funds to find financing Ironbark gets funds to find financing Ironbark gets funds to find financing

The planned big underground project has had more than $50 million spent on it over the past 10 years or so, and will cost US$514 million to develop.

On the positive side of the ledger, it will annually generate earnings up to $270 million, according to Ironbark’s modelling.

The A$6 million being raised involves the issue of new shares priced at 6.2c each.

As per standard with ASX-listed companies, it was not disclosed who the investors are.

Meanwhile Citronen’s development will, directly or indirectly, involve a number of industry players.

The Chinese are currently involved via an EPC MoU with China Non-Ferrous, while smelter group Nyrstar and majo...

topics

loader