Been a few good explanations as to why we're finally taking off,...

Been a few good explanations as to why we're finally taking off, though perhaps not enough emphasis on:

1. Antics of China CCP and the implications for the US in the Arctic has been a big factor in the renewed push for Citronen project to proceed. Bear in mind Chinese interests had an earlier MOU with Ironbark for funding the project, which might still be resurrected. Don't think anyone wants that.

2. Aside from geo-political tensions, the project is very profitable. The recent Banking Feasibility Study (BFS) shows the project has a post tax cash flow of $US1.46 billion equating to an NPV (at conservative 8%) of $US 363 million, based on a zinc price of $US1.30 per pound. The project has considerable sensitivity to movements in the zinc price with every US$0.10/lb impacting NPV by approximately US$150M and post-tax free cash flow by US$360M. If you have any confidence in the increasing role of zinc in the green economy, then $1.40 would appear quite reasonable going forward with a huge impact on the profit numbers. You can do the maths on $US1.50 and above per pound.



3. The deposit is still open in all directions, so likely many years additional profits over the stated 20 year mine life.

Newbies who haven't reviewed the BFS might spend a little time on that to become better acquainted with the project details, see July... http://ironbark.gl/investor-centre/asx-announcements/2021-2/