In Zinc, finding the equity is not an issue. If money was an...

In Zinc, finding the equity is not an issue. If money was an issue, no new mines would ever be constructed.

The question is more about the underlying demand and where the Zinc price is.

Mines are divided into tiers, from pre-existing mine to a virgin (brand new mine) like IBG.

So for IBG it is about demonstrating the demand for the material and the cost effectiveness of extracting a mine.

Post 2008 the Zinc price crashed, so the demand was not there to warrant new construction of mines. At prices above 2,500 USD and an open transport corridor and window, a mine becomes essentially feasible in Greenland.

Also, consider that no equity partner will risk money unless you have the backing from a governmental lender or debt financing. Therefore, I doubt that EXIM would of advance to the next stage unless there are some sort of equity discussion.