Zinc Play, page-3

Thanks for that. All the info helps.

So I discovered that Ironbark purchased Citronen Project in March 2007 from Bedford Resource Holdings. The consideration was $6m cash, 8mill shares in Ironbark and 16 mill options with an exercise price of $1.50 at any time prior to 1st Feb 2010.

At the time the project had a resource estimate of 17 mill tonnes @ 8.3% zinc equivalent. This resource was based on 32,826 metres of drilling during 1993-1996.

Back in March 2007 Zinc prices where double now and Ironbarks share price was ? not quite sure but a share split was done in 03/07/2007 [5:1]

So in 2014 were are we at......

Based on the latest Presentation at Digger and Dealers

The resource is 71 million tonnes @ 5.7% zinc +lead.Not sure how much drilling has been done since 1996 or how much money has been spent to establish the current resource, BFS etc

Greenland is now supportive of mining. A social impact study has been done. A bank feasibility study has been completed. A NPV of has been estimated. Nyrstar and Glencore are on board. Analysts estimate zinc will go higher in the next 2 yrs due to supply issues. A pathway to funding looks likely via a MOU with China NFC.

And whats the market cap today ? 62 million

Seems Very low to me for a mine life of 15+ years......