IBG case, page-2

Citronen Project’s Feasibility Study

In April 2013, Ironbark was pleased to release the results of the Citronen Project’s Feasibility Report, which confirmed the Citronen Project as a globally significant lead-zinc project.
Highlights of the Feasibility Report included:

• NPV: US$609 Million (US$354M post tax)
• IRR: 32.0% (22.2% post tax)
• Equity Return: 37.9% (Geared NPV after tax)
• Capital Cost: US$429.3 Million inc contingency (US$484.8M with First Fills)
• Operating Cost: US$0.59/lb Zn (Payable, Net of by-product credits, Years 1-5, Smelter fees additional US$0.12/lb Zn)
• Mine Life: 14 years
• Life of Mine Operating Costs: US$3.42 Billion
• Life of Mine Revenue: US$5.65 Billion

Please note this is due to change as oil prices have halved since the was done ...IBG are currently working on revised figures which will make us even more attractive!

http://ironbark.gl/projects/greenland/citronen/