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.
Ann: Ironbark Extends MOU with Norwegian Arctic Specialist LNS, page-12
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Mkt cap ! $7.969M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.5¢ | $500 | 100K |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 18 | 10910105 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 0.5¢ | 3378952 | 6 |
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| Last trade - 11.27am 24/05/2024 (20 minute delay) ? |
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| 0.5¢ | 0.5¢ | 0.5¢ | 408500 | ||
| Last updated 11.24am 24/05/2024 ? | |||||
| IBG (ASX) Chart |