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Ironbark Zinc major shareholder continues to build indirect holdings with on-market purchases

Toronga Pty Ltd, in which non-executive director Danny Segman has a beneficial interest, has acquired more than 1.875 million shares.

Ironbark Zinc Ltd - Ironbark Zinc major shareholder continues to build indirect holdings with on-market purchases
IBG’s Citronen project has a high-grade resource of 18 million tonnes at 8.24% zinc and lead

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

On March 27 and 31 an entity in which Segman has a beneficial interest, Toronga Pty Ltd, acquired more than 1.875 million shares.

This took the number of shares held in the indirect interest to almost 82.417 million while another of Segman’s indirect interests, Dulyne Pty Ltd, holds 67 million IBG shares.

Series of transactions

It is the latest in a series of on-market transactions by interests associated with Segman this year.

On March 24, 25 and 26 Toronga Pty Ltd acquired 3.54 million shares valued at more than $18,400 while on March 12 seven million shares were acquired worth more than $49,000.

‘Jewel in the crown’

The company is confident that its Citronen Zinc-Lead Project in Greenland offers a rare scale and grade combination with a long mining life in a unique jurisdiction.

Ironbark considers Citronen the ‘jewel in the crown’ because the project has a 30-year mining lease and has 18 million tonnes at 8.24% zinc and lead with 14 million tonnes in measured and indicated resources.

The high-grade zone is within a significantly larger resource of 132 million tonnes at 4.5% zinc and lead with potential for further regional exploration.

Quick facts: Ironbark Zinc Ltd

Price: 0.009 AUD

ASX:IBG
Market: ASX
Market Cap: $8.28 m
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