IBG 0.00% 0.2¢ ironbark zinc ltd

I hear what you’re saying KDWC, surely this resource is...

  1. 272 Posts.
    lightbulb Created with Sketch. 57
    I hear what you’re saying KDWC, surely this resource is extremely valuable, and I have often wondered over the last decade why It hadn’t been snapped up by negotiation or even a takeover to secure such a resource. What I did fear was that the two larger shareholders such as Nyrstar and Glencore although had an offtake agreement for 70% of the zinc is that it was not to develop the mine, but to take a position themselves to ensure the supply didn’t get to market to interfere with their trading profits. This offtake agreement also provided them a disincentive to buy or develop. Why would they risk their own capital mining when they could buy 70% of the product at market? If by some stroke of fortune IBG folded, then they could get the resource almost for free.Today they have less of a percentage holding (thanks to Danny and many cap raises) so are not in a position to control any future voting on an asset sale, if it comes to that. There is still a risk of the major shareholders taking the company private at a nominal price once the finance is approved and risk removed. This is why the shareholder base needs more retail in it to ensure this doesn’t happen.
    Having said that, I am more hopeful than ever that a favourable outcome is in store for this company as it has survived quite a long time and achieved many milestones despite the hurdles and setbacks, including the GFC.
 
watchlist Created with Sketch. Add IBG (ASX) to my watchlist
(20min delay)
Last
0.2¢
Change
0.000(0.00%)
Mkt cap ! $3.667M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
2 1330000 0.3¢
 

Sellers (Offers)

Price($) Vol. No.
0.3¢ 3033794 2
View Market Depth
Last trade - 16.12pm 31/10/2024 (20 minute delay) ?
IBG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.