Well there you go - finally some news!... albeit with a steady-as-she-goes trend once again!
I guess you have to look at it from a glass-half-full perspective in that the status quo remains with EXIM Bank still committed to the Citronen project
On a positive note, I do like this bit from the announcement which shows management has changed tact with their approach to finding a JV partner -
"Citronen Joint Venture Discussions
In recognising the scale of the Citronen Project, the operational complexity of the Arctic environment, and US EXIM’s lending parameters, Ironbark has elected to undertake a much more focused search for a JV partner at Citronen in 2023. In scope are mid to large-cap mining companies with significant balance sheet strength, current or planned exposure to the base metals market, and experience with operating high-latitude mines.
This much tighter set of criteria, with perhaps fewer but much more committed potential investors, has necessitated a different approach to the more structured, but broader, process that ran in 2022 and is showing signs of being successful. The key attributes of the Project – granted mining licence, multi-decade Mineral Resource, clean concentrate, Offtakes largely pre-sold, presence of US EXIM, significant exploration upside – remain attractive to various majors and discussions remain ongoing at the time of writing."
More patience is required as they say
Good luck folks
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IBG Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
