Ironbark Zinc outlines reasons for 37% share price...

Ironbark Zinc outlines reasons for 37% share price rise
Wednesday, September 04, 2013 by Proactive Investors


Ironbark Zinc (ASX: IBG) received an ASX Price Query after the market closed yesterday following the company's shares hitting $0.081 intra-day, which is a 37.3% increase from the closing price a week earlier.

Ironbark said that it is not aware of any information concerning it that has not been announced to the market which if known by some in the market could explain the recent trading in its securities.

In a response to the ASX, Ironbark stated: "The Company notes a recent Research Note issued by Proactive Investors."


ACCESS THE RESEARCH NOTE HERE


"The Note whilst not drafted by the Company does comment on the progress of the Citronen project and higher zinc prices however it does not contain any information that has not been previously made public by the Company through the ASX platform.

Ironbark also referred to the London Metal Exchange warehouse zinc stock levels which have fallen by approximately 20% over the last six months, and now represents less than 1 months global zinc consumption with a fall below the 1 million tonne level looking likely.

In conjunction with this Ironbark has limited remaining peer zinc developers and miners listed on the Australian Securities Exchange with Perilya Limited currently in a Trading Halt pending an announcement to the market of a potential control transaction.

"Other than this the Company confirms there is no other explanation that the Company may have for the recent trading in its securities."



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