Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Ironbark Zinc Heads To Market 0 comments
    Sep 16, 2013 1:50 AM

    Ironbark Zinc (ASX: IBG) is raising capital following the completion of an earlier encouraging Feasibility Study for its wholly-owned Citronen zinc and base metal project in Greenland.

    The company has been granted a trading halt, which will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 18th September 2013.

    Its Feasibility Study had forecast production of 3.3 million tonnes of feedstock; initial mine life of 14 years and CAPEX $484.9 million from the project, which hosts a JORC Resource of 71 million tonnes at 5.7% of zinc, (Zn) and lead (Pb), containing 13 billion pounds of zinc and lead.

    The massive project has attracted major investors that include GlencoreXstrata, the world's largest zinc miner and trader, and Nyrstar which is the world's largest zinc and lead smelter group.

    China Nonferrous, which is ranked as one of the world's top engineering firms has executed a Memorandum of Understanding to build and majority fund the process plant.

    Life of Mine OPEX is estimated at US$3.42 billion to produce total revenue of US$5.65 billion.

    The Internal Rate of Return is estimated at 32.0% (22.2% post tax), and Net Present Value is US$609 million (US$354 million post tax).

    Notably, mineralisation remains open in all directions for exceptional exploration upside that could quadruple current resources.

    Ironbark Zinc is focussed on completion of EPC with China Nonferrous this year, construction by 2015, and commissioning of concentrate production by 2016.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.