IBG 0.00% 0.4¢ ironbark zinc ltd

It's time for a share consolidation 1:10 and then a massive...

  1. 81 Posts.
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    It's time for a share consolidation 1:10 and then a massive dilution of say 50% - which will yield somewhere in the region of 5-6 million dollars. That will take care of all outstanding EXIM bank requirements like additional drilling, community engagement etc.

    It's a bitter pill to swallow but what it will mean is that the Citroenen Asset (re)valuation will kick back in at 40-50m dollars as they will be spending money on it again plus complete all EXIM financing conditions - which will enable us to unlock the true asset value. Obvious downside is the economic viability, Zinc trading at1.12/lb is dam awful but It's certainly better than being a bottom feeder or the alternative, a fire sale of our only advanced asset.



 
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