IBG

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0.4¢ ironbark zinc ltd

Ann: Citronen Receives Landmark 402A Designation from EXIM Bank, page-321

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aWombat

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20/01/22

15:08

Post #: 59013191
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Originally posted by Sander51: ↑

That's exactly what it says -

"During the Phase 1 DD process, US EXIM, and its advisers undertook considerable DD on Citronen following Ironbark’s loan application, submitted in August 2021. While not yet a binding offer of credit, the PPL signals US EXIM’s intent to undertake further serious consideration of the funding application and provides project sponsors with a process and issues list to resolve prior to a formal loan offer. It is a welcome endorsement of the fundamentals of the Citronen Zinc Project for a world projected to increasingly consume more Zinc metal as the transition to carbon neutrality gains further traction globally. Given the quantity of debt funding potentially being made available by US EXIM, no additional project debt funding is anticipated if the EXIM facility is successfully closed on the terms outlined in the PPL. In addition to signaling US EXIM’sintention to proceed with the transaction, and tabling an indicative Term Sheet, the PPL provides Ironbark with guidance on key issues for Phase 2 DD, including completing further financial, technical, environmental, and legal reviews as determined by EXIM Bank (including finalisation of construction arrangements)."

Unfortunately, we are not privy to the key issues listed in the Phase 2 DD that need to be addressed, but if
Ironbark satisfies all the requirements there should be no need to raise any additional funds- hopefully, we get some news soon to provide a bit more certainty in the process going forward.

I'm still sticking with my call for the start of some news by the 25th of this month - see how we go and good luck to all the serious holders!

Cheers
.

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I suspect key issue for EXIM is that IBG have at least high level agreements in place with US (or US friendly) suppliers covering core capex before any $ are approved. Plus the required regulatory approvals for construction.

IBG Price at posting: 4.5¢ Sentiment: Hold Disclosure: Held
3 Upvote

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Ann: Citronen Receives Landmark 402A Designation from EXIM Bank, page-321

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Ann: Citronen Receives Landmark 402A Designation from EXIM Bank, page-321

Top Stories

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