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Ironbark Zinc director Danny Segman builds indirect holding with on-market transaction

The non-executive director and major shareholder has acquired a further 2.5 million shares, taking his overall holding in two indirect interests to 126.5 million shares.

Ironbark Zinc Ltd - Ironbark Zinc director Danny Segman builds indirect holding with on-market transaction
The company is focused on development of the Citronen Zinc-Lead Project in Greenland

Ironbark Zinc Limited (ASX:IBG) director Danny Segman continues to build his major shareholding in the Greenland-focused base metals developer through on-market transactions.

On November 29 the non-executive director and major shareholder acquired a further 2.5 million shares with a value of $30,000 in an on-market trade through indirect interest Toronga Pty Ltd.

He now holds a total of 126.5 million shares with 65.5 million held in Toronga and 61 million in another indirect interest, Dulyne Pty Ltd.

On-market transactions

Segman has made a series of on-market trades in Ironbark during the last few months as the company continues development preparations at the flagship Citronen Zinc-Lead Project in Greenland.

In October, Ironbark received commitments for a placement to sophisticated professional investors to raise $1 million at an issue price of 1.35 cents per share.

At the time managing director Michael Jardine said: “The company is delighted with the support received for the placement and welcomes a number of new institutional and sophisticated investors to the register who are supportive of our efforts to develop Ironbark’s flagship Citronen project.

“The company is engaging with a number of stakeholders who are aligned with our drive to increase the equity value in IBG, ultimately assisting in making the delivery of the Citronen project to market a reality.”

Quick facts: Ironbark Zinc Ltd

Price: 0.013 AUD

ASX:IBG
Market: ASX
Market Cap: $11.96 m
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