Proactive Investors - Run By Investors For Investors

Ironbark Zinc substantial holder increases interest by more than 14 million shares

Ironbark shares were up more than 3% in intra-day trading.
Ironbark Zinc substantial holder increases interest by more than 14 million shares
The Citronen camp in Greenland

Ironbark Zinc Limited (ASX:IBG) substantial shareholder Danny Segman has increased his stake in Ironbark by 14.1 million fully paid ordinary shares.

Segman’s total holding now amounts to 71.1 million shares, representing a 10.02% stake in the company.

Shares were gained by two proprietary limited companies of which Segman is a common director, the larger holder of the two being Toronga Pty Ltd.

 

READ: Ironbark Zinc to fund Citronen Zinc Project development with $2 million placement

Ironbark’s September 2017 feasibility study for its Citronen Zinc Project targeted a 14-year mine life where 180,000 tonnes a year of zinc and 25,000 tonnes per annum lead would be produced for the first five years.

The deposit has a mineral resource estimate of 70 million tonnes grading at 5.1% zinc and 0.5% lead.

The company’s resource is large and could see it become one of the top five zinc producers in the world.

The largest smelting house in the world, Switzerland-based Nyrstar NV (OTCMKTS:NYRSF), is Ironbark’s largest shareholder, and is joined on the register by the world’s largest zinc miner and marketer Glencore PLC (LON:GLEN).

View full IBG profile View Profile

Ironbark Zinc Ltd Timeline

Related Articles

Lithium on table of elements
April 04 2019
The McDermitt Lithium Project features a high-grade ETR of 20-80 million tonnes at 2100-2600 ppm.
A Ghana map showing its capital Accra
January 16 2019
A PFS found that the project in Ghana could generate US$1.4 billion free cash flow before tax.
Electric vehicles
May 01 2019
An investment at the project level from major commodities trader Talaxis is helping it along.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use