Found this snippet whilst trawling through the NYRSTAR 2010 ANNUAL REPORT; interesting to read that they chose not to participate in the latest C R. No big deal IMO as they already hold 30% They do however stress there continual commitment to diversify into mining. The report is a recommended read on the Nyrstar web site
Ironbark Zinc Limited In March 2010, Nyrstar agreed to acquire an additional 11% interest in Ironbark for ?10.3 million, taking Nyrstar?s interest in Ironbark to approximately 31%. The amount raised by the placement was used by Ironbark to fund its 2010 drilling program at the Citronen zinc-lead deposit in Northern Greenland, an important step in the completion of a bankable feasibility study in relation to its potential development. Ironbark conducted a private placement in November 2010 to raise a further AUD$11.5 million; however, Nyrstar chose not to participate in this placement and currently has a diluted shareholding of approximately 26.5%.
IBG Price at posting:
26.0¢ Sentiment: LT Buy Disclosure: Held
