# IBG - Ironbark Zinc



## Alfredbra (17 August 2006)

new on the asx, any opinions? up 13% today


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## Stinger (17 August 2006)

*Re: IBG - Ironbark gold*

I was looking at investing in the IPO, however decided to go with a uranium company soon to list. Kicking myself!

Personally was not suprised with the results after the first 2 days trading given the calibre of the main investors. IMO i think this will be a good company over the next few months, however i am no expert!


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## Alfredbra (18 August 2006)

*Re: IBG - Ironbark Gold*

damn should have bought into IBG, up another good amount today


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## Freeballinginawetsuit (19 August 2006)

*Re: IBG - Ironbark Gold*



			
				Alfredbra said:
			
		

> damn should have bought into IBG, up another good amount today




Bought into the IPO and got out today, what a welcome gem.


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## parisrory (4 December 2006)

*Re: IBG - Ironbark Gold*

Anybody out there know why this stock is doing so well for no apparent reason?


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## Who Dares Wins (25 January 2007)

*IBG - Ironbark Gold Ltd.*

This company has had a stellar preformance since listing in aug 2006, does anyone know much about this companies tenements and prospects? Also what about the tin/tungsten off-shoot Wolf Minerals that has just started their IPO?


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## imajica (2 March 2007)

*Re: IBG - Ironbark Gold*

company acquires massive zinc deposit in greenland

17 million tonnes at 7.8% zinc


market has responded accordingly - up nearly 50%


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## Who Dares Wins (28 March 2007)

*Re: IBG - Ironbark Gold*

Nobody interested in this stock? 

There never seems to be any discussion despite going from 20c to $3.10 in 7 months.


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## Who Dares Wins (11 May 2007)

*Re: IBG - Ironbark Gold*

More Greenland Projects announced. These prospects are the most northerly known deposits in the world up at around 84 degrees North latitude, only 600kms from the pole. Only a 5 month window every year in which to conduct field work.
Contrary to what people think of this part of Greenland the area is not cover by ice all the time but is described as "arctic desert".
Field investigations to begin 2nd -3rd week of June. 

From 20 cents to $4.20 in 9 months. Can't believe more people aren't interested in this stock.

WDW


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## Who Dares Wins (9 June 2007)

*Re: IBG - Ironbark Gold*

More information. IBG geologists and field crew will be deploying into Greenland on 22nd of June to begin work on the Citronen Project.
WDW


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## Who Dares Wins (2 July 2007)

*Re: IBG - Ironbark Gold*

I have been trying to come up with a value for IBG.  Not sure if this is the best way as NPV is a more common way of valuing as it takes into account the time value of money.


Below is a analysis for Citronen alonebeing their major project:

*Citronen*

17,000,000 tonnes ore @ 8.3% Zn equiv.

= 1,411,000 tonnes Zn @ $600 USD per tonne profit.

=$846,600,000 USD

=$997,294,800 AUD ( @ 1.178 convertion from USD ).
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=$16.96 per share when fully diluted ( 58.8 million shares/options)





Of course I've just used $600 profit per tonne as a figure because I have no idea what it would be higher or lower. But with the share price currently over $5 it leaves alot of room for the cost of recovery to go higher before it brings the price/share down close to where it is now. And also the fact that there was $21m cash helps the estimate as well, but thats not factored in.

Anyone care to comment?


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## deftfear (2 July 2007)

*Re: IBG - Ironbark Gold*

I had this stock for a little while and sold on the announcement of the citronen purchase, although it all looks good, I was unsure of how easily it would be to get the ore out of the ground and transported in an area that is covered by snow for a large part of the year, and it also looks very close the the ocean, possibly causing other problems maybe like cigar lake. 

I'm certainly no geologist, I just saw it as being reasonably risky so I took my money out hoping for a fall, but it has just kept going up. I learnt a major lesson the hard way with this one, the trend is your friend


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## Who Dares Wins (2 July 2007)

*Re: IBG - Ironbark Gold*

I see being close to the sea as an asset. The nearby deepwater fiord offers shipping potential during summer months.


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## deftfear (2 July 2007)

*Re: IBG - Ironbark Gold*

I could too, but I didn't have enough time to research it properly , so I took my profits, which is better than taking a loss, so I cant complain. This has great potential and just keeps going up and up.


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## roland (22 November 2007)

*Re: IBG - Ironbark Gold*

IRONBARK ANNOUNCES WORLD CLASS ZINC RESOURCE
Ironbark is pleased to report a strong resource upgrade of its wholly owned Citronen Fjord Zinc Project (Citronen) in
Greenland, with recent exploration at the Project resulting in an increase in contained metal of more than 130 per cent,
equating to approximately seven billion pounds of zinc.


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## inenigma (30 November 2008)

*Re: IBG - Ironbark Gold*



roland said:


> IRONBARK ANNOUNCES WORLD CLASS ZINC RESOURCE
> Ironbark is pleased to report a strong resource upgrade of its wholly owned Citronen Fjord Zinc Project (Citronen) in
> Greenland, with recent exploration at the Project resulting in an increase in contained metal of more than 130 per cent,
> equating to approximately seven billion pounds of zinc.




Ok.  I'm just a newbie, but, the above was posted over a year ago....  Latest ann states very much of the same....

Released 17-Nov-2008
*"Ironbark is pleased to release an updated resource estimate for the 100% owned Citronen zinc-lead
project in Greenland based on results from 2008 exploration drilling. Results released during the
season have reinforced the companies view that Citronen is a truly world class zinc (Zn) - lead (Pb)
deposit with strong development potential.
Contained Zinc and Lead resource hosts in excess of 10.5 billion
pounds of metal"*

Would I be wrong to assume that they have done *JACK *over the past year ??


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## prawn_86 (30 November 2008)

*Re: IBG - Ironbark Gold*



inenigma said:


> Would I be wrong to assume that they have done *JACK *over the past year ??




Depends on your veiw. Small exploration companies tend to do just that, explore. So they have been drilling throughout 2008, which does take time for the JORC code, and have increased the size of their JORCd resource.

The next step would be to turn it into a mine, or sell it, or keep on defining the resource....


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## shag (23 January 2009)

*Re: IBG - Ironbark Gold*

from a good source they r working rtheir **** off up greenlandway.
a nice cold war airstrip to bring in any planes too.


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## adobee (11 November 2010)

Anyone following IBG.. notice from there presentation today Glencore is holding a good size stake..  Hearing they have potential of worlds biggest zinc resource ?  Seems to be on a break out.. no real news as yet to substaniate why ..


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## UBIQUITOUS (11 November 2010)

adobee said:


> Anyone following IBG.. notice from there presentation today Glencore is holding a good size stake..  Hearing they have potential of worlds biggest zinc resource ?  Seems to be on a break out.. no real news as yet to substaniate why ..




I'm holding Adobee. The scale of Citronen has to be seen to be comprehended. All for a market cap of $80m!


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## ParleVouFrancois (11 November 2010)

After I posted an analysis on my blog IBG, I was sent this URL via email, as you can see mining in Greenland is nothing short of one of the most difficult places to do it. Not because of natives or a difficult government, but just the sheer harshness of the environment makes it difficult to mine on Greenland. However the prospect of the largest Zinc deposit in the world and a small market cap are positives, just trying to add some balance to the thread. I would buy in but my capital is all tied up, good luck to the people who buy in, looks to be a winner.

http://www.eastgreenland.com/database.asp?lang=eng&num=428


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## adobee (16 November 2010)

Placement at 24c..  $11.54mill

not bad but I would have thought they could have hit this up around 28c and kept a bit of romance in it for shareholders..

whats next to come on this one , increased JORC ?


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## Who Dares Wins (8 September 2011)

I cannot believe how much discussion there is on Hotcopper about IBG compared to Aussiestockforums.

Its like hardly anybody who follows this website knows about IBG. On hotcopper there are a couple of posts most days!

IBG is hot over there at the moment and here....what a couple of posts in the last year. 

The biggest Zn deposit in the world doesn't get a comment here.


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## Iridiumz (9 September 2013)

This stock is in the stage of shooting up, yet no one is discussing or noticing it here


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## frugal.rock (2 November 2020)

Iridiumz said:


> This stock is in the stage of shooting up, yet no one is discussing or noticing it here



Crazy, a US LOI had sent this through the roof. Have previously held this stock, but alas not now...


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## Dona Ferentes (6 March 2021)

Ironbark Zinc sustaining a bit of a reappearance, as noticed by @frugal.rock last November. Probably had its early run, and now the tricky bit, of spending the money for meaningful outcomes, has arrived. From the AFR :



> [IBG] was looking for *$3 million i*n fresh capital via a two-tranche placement, according to terms sent to potential investors. The new shares were being offered to funds at 2.4¢ each, which represented an 11.1 per cent discount to Ironbark’s last close, and an 18.3 per cent discount to the 15-day VWAP.






> Ironbark owns the Greenland-based Citronen zinc deposit, and money raised in the funding round would towards financing a bankable feasibility study for the project.


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## greggles (9 September 2021)

IBG forming an uptrend since late August and moving back towards resistance at 3c. Bullish price action today. 

There is a good case to be made that IBG are undervalued on the basis of a peer to peer comparison with other ASX-listed Zinc companies. The company itself has made that argument as you can see below. Project financing for their Citronen Zn-Pb Project in Greenland is currently being sought. Offtake agreements are in place. The BFS is complete.

I'll be watching for a bullish break above 3c.


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## greggles (28 September 2021)

Ironbark Zinc has appointed Mr. Alexander Downer and Mr. Paul Cahill as Non-Executive Directors, effective 1 October 2021. Mr. Downer is, of course, Australia's longest serving Foreign Minister.

The announcement was marked as being not price sensitive. However, it is interesting to note that the IBG share price has jumped 21.9% to 3.9c, so it clearly was price sensitive. Mr. Downer is a very well known and well connected former politician.


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## greggles (5 October 2021)

IBG up another 14.29% to 4.8c today. It hit a high of 5.2c earlier. The bullishness of IBG recently is surprising me, not sure what's driving it at the moment. Some news on the way perhaps?


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## Sean K (5 October 2021)

greggles said:


> IBG up another 14.29% to 4.8c today. It hit a high of 5.2c earlier. The bullishness of IBG recently is surprising me, not sure what's driving it at the moment. Some news on the way perhaps?




I can't believe those JOC resources with a MC of below $50m or so. There must be something wrong with this. Doesn't scan.


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## Sean K (5 October 2021)

greggles said:


> Some news on the way perhaps?




They are waiting on finance to be announced in Q4 from EXIM. Might be it. 

Had an extraordinary month. Wish I had have seen your earlier posts. The grade on this is incredible. Going through their last few anns trying to find out what the hitch is. The comparison to Rumble above is pretty telling. Looks waaaaayy undervalued. Maybe this is covered in ice for most of the year??


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## greggles (5 October 2021)

kennas said:


> They are waiting on finance to be announced in Q4 from EXIM. Might be it.
> 
> Had an extraordinary month. Wish I had have seen your earlier posts. The grade on this is incredible. Going through their last few anns trying to find out what the hitch is. The comparison to Rumble above is pretty telling. Looks waaaaayy undervalued. Maybe this is covered in ice for most of the year??
> 
> View attachment 131081




Yes, IBG has been flying under the radar. However, I think the recent appointment of Alexander Downer to the role of Non-Executive Director has motivated some to take a second look at the company. I suspect that many have also concluded that IBG represents value at current levels. I think it will go higher still, but thought that it would require a catalyst to get it moving as it has been quite a boring stock for the entirety of 2021... up until October.

Edit: Just noticed that the company just responded to an ASX Price Query with the following explanation for the unusual trading in its securities:



> 3. The Company notes that there has been a positive response to the ASX announcement made on 28 September 2021 titled “Alexander Downer AC and Paul Cahill Appointed as Directors”


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## Sean K (13 October 2021)

IBG took a breather after been pumped and dumped for a few days. Now formed a little flag with volume decreasing looks set for another break up potentially. Announcement of positive financing might re-rate this fundamentally.


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## Sean K (18 October 2021)

That little flag still there and trying to go north. Zn flying which might give it some more impetus along with a decision on finance expected shortly. Even though it's ran pretty hard it still looks undervalued on a resource to MC perspective.


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## Sean K (18 October 2021)

Market cap still around $50m and when you compare it to RTR it seems way undervalued. 

Must be a lot of risk factored in to this. Probably capex, but also perhaps that it's Greenland. On the map it looks like it should be under a kilometre of ice. 

I doubt A. Downer wouldn't have got on board if these were insurmountable though.


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## Sean K (20 October 2021)

I wonder if IBG is going to continue the form? Fingers crossed.


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## greggles (20 October 2021)

kennas said:


> I wonder if IBG is going to continue the form? Fingers crossed.
> 
> View attachment 131698




It's starting to look a bit toppy, so i'm expecting either a small retrace or a period of consolidation above 5c. I could be wrong though, it has certainly performed well in the last couple of months.


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## Sean K (20 October 2021)

greggles said:


> It's starting to look a bit toppy, so i'm expecting either a small retrace or a period of consolidation above 5c. I could be wrong though, it has certainly performed well in the last couple of months.




I'm betting on the EXIM financing coming through, which is what most are I guess. If they get that then a MC of $100m is not out of the question when compared to peers. Less than half of RTR is pretty conservative.


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## Sean K (4 November 2021)

Sean K said:


> I wonder if IBG is going to continue the form? Fingers crossed.




Well, that set up failed dramatically. Knocked me out short term, but fundamentals on the deposit and getting the funding are still compelling.


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## Sean K (11 November 2021)

Well, down to 4c now and must be reconsidered. I think it's late traders buying in and selling off at a loss due to the high risk play, that this is. Seems to be only the finance with the US that's the issue. Although, if it's that good, why can't they go to the market or a JV partner to get it up? Makes me think there's something wrong with it that I can't see on the surface. I tool an initial bite just on the resources and the chart patterns and Downer coming on board. EXIM decision before the end of the year. There will be a TH for the decision I assume. Safe play is to wait till that's out I guess as a negative result will probably send this back to 2c. On the other hand, might gap up 5c on positive news too...


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## barney (11 November 2021)

Sean K said:


> Safe play is to wait till that's out I guess as a negative result will probably send this back to 2c.




DNH and just jumping in for a quick look.  

No idea of the fundamentals with this battler, but the 036 level definitely looks a place to watch for any associated action??


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## Sean K (11 November 2021)

barney said:


> DNH and just jumping in for a quick look.
> 
> No idea of the fundamentals with this battler, but the 036 level definitely looks a place to watch for any associated action??
> 
> View attachment 132735




Well spotted Barney. Could slide back to there before an announcement comes out even, if one does.


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## Sean K (16 November 2021)

I've decided to step back in here with some support at 4c and a decision on investment by EXIM imminent. Taking a significant risk with the funding decision but only taken another small bite. Will continue to watch very closely. 

Supporting this is the US deciding to put Ni and Zn on the critical minerals list, which will give EXIM an easier decision to lend money for the capex to get this off the ground, which is the major hurdle. It's an excellent deposit in an awkward location but capex around $650m seems to be the major problem to me.

If they don't get the loan, then they're going to have to go to market immediately for some operating cash with only $1.6m in the bank at end of Sep. 

United States adds nickel, zinc to critical minerals list: Andy Home​





(The opinions expressed here are those of the author, a columnist for Reuters) By Andy Home LONDON, Nov 15 (Reuters) - Nickel and zinc are now deemed critical minerals by the United States.

The U.S. Geological Survey (USGS) is proposing both metals be included in the redrafted critical minerals list. The list has grown from 35 to 50 since the last iteration in 2018, but that largely reflects the splitting out of rare earth elements and precious group metals into separate entities.

Four minerals - helium, potash, rhenium, and strontium - have been dropped. The United States is the world's leading producer and net exporter of helium, while import dependency for the other three is mitigated by "low disruption potential".

Uranium was also dropped after being reclassified as a "mineral fuel". Nickel and zinc are the only two new additions, and each reflects an evolution of the methodology used to determine whether a mineral is critical to the well-being of the U.S. economy.


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## Sean K (23 November 2021)

This wasn't what was expected. They've just qualified for special consideration and it's not the loan decision. Disappointing. We seem to have been misled by what stage of the process they were in, unless I misread previous announcements and statements.


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## barney (23 November 2021)

Sean K said:


> This wasn't what was expected.




Market seems to be happy so far   (DNH)


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## Sean K (23 November 2021)

barney said:


> Market seems to be happy so far   (DNH)




Ended up 15% so Mr Market liked it a little. I'm very good at picking market sentiment with these things...

The positive out of it is that it's progressing, and it's not a no deal. To be in the frame for the EXIM is critical, so if this is the proper path, then great. Just wish I had have known what the hoops were to jump through. Hopefully there's no more announcements about the application jumping through another unknown hoop and they just come out with the final decision. I am feeling a little bit more confident on my roll of the dice at the moment.


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## Sean K (7 December 2021)

IBG pause in trading for an announcement. Can only be the EXIM, you'd have to think. All digits crossed.

edit: now in halt - ref finance. The stock could halve or double depending on a no or a yes. Hopefully it's clear cut and not another hoop that's been jumped through.


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## Sean K (8 December 2021)

I'm having a good day today.


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## Sean K (8 December 2021)

Jumped the gun on today being a good day, although indicative open is currently 5.9c from prev close 4.7c, so still ok.

This still isn't a binding agreement, and just another hoop, but it's hard to see it not happening from here. Plus, they're doing a CR at the same time, so anything could happen. 

Going to be interesting to see what this has on it's MC. Currently still just $50m with all that Zn and Pd and about to get a line of credit for up to US$650m.


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## Sean K (8 December 2021)

Uh oh, it’s in The Fin. I didn’t buy enough.


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## Sean K (9 December 2021)

In suspension, for a halt, for a CR now. Hopefully holders get some at whatever discount it is. They should have done the raising after it re-opened and the possible re-rating upwards due to the EXIM. Seems they might be raising at a pretty low price for what it could be. Odd.

NPV of the project is $US363 but their MC is $50m...


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## Sean K (10 December 2021)

Gapped up a little bit.

Hopefully that doesn't get filled.


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## Sean K (10 December 2021)

Well, that is one ugly MF of a candle if you bought in early today, but if you had some prior to the ann, and you sold a few, it'd be a very sweet Friday afternoon. 🍻

If they get this off the ground it's still undervalued at under $100m MC. 

And that is surely going to happen now that EXIM are 90% on board.


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## Sean K (17 December 2021)

Very surprised this has reversed back down to pre-announcement region. The very likely decision on the EXIM loan should have held this up and re-rated it. Perhaps there's something else in the wind about the decision that's spooking punters.


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## Sean K (30 December 2021)

I wanted to pick this in the yearly 2022 comp but the SP is too low.  

MC under $70m and they're about to get $650m in financing. How does that add up?

Perhaps there's still a load of risk applied to it. 

At this stage, happy to have accumulated a few around the 4c mark.


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## Sean K (28 January 2022)

I was expecting (hoping, maybe more like it) that the EXIM would have come through in Jan and put a 🚀 under this, but no. Well, it could happen Monday. So, 🤞 it's Feb. Maybe I'm underestimating the DD period. I anticipate similar price action to when the PPL was delivered, but some follow through and it being re-rated considerably. MC still at a lowly $50m ish with all that Zn just sitting there.


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## Sean K (31 January 2022)

I think I'm going to have to change my monthly comp pick as this EXIM process could go on forever. Last year the company was saying that they'd get an answer by the end of the year but all they got was the PPL. I don't think they've been very up front with the exact process and timeline TBH. 

Quarterly:



> Further discussions are currently underway between Ironbark and US EXIM Bank on the timing and process for Phase 2 work in 2022. A range of external advisors, in addition to Greengate LLC, are yet to be appointed by EXIM for Phase 2 with the final scope, work program and outcomes not currently anticipated to be agreed until late February. An announcement on this will be made at the appropriate time.


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## Sean K (25 February 2022)

Sean K said:


> I think I'm going to have to change my monthly comp pick as this EXIM process could go on forever. Last year the company was saying that they'd get an answer by the end of the year but all they got was the PPL. I don't think they've been very up front with the exact process and timeline TBH.
> 
> Quarterly:
> 
> ...




There was supposed to be an agreement by late February and then an announcement. That's Monday boys! Come on, you're killing me in the monthly comp.


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## frugal.rock (25 February 2022)

What a Downer. A.


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## The Triangle (1 March 2022)

Sorry for being a Debbie Downer here.  This is another project I can't ever see happening.  I only know of one other Aussie tie-up with the import/export bank and that was Newsat...  And that didn't exactly turnout very well.  

Here are my thoughts on why this is a dud of a project:

In arguably the most remote part of the world:
No 'Just drive to to Kal this morning and pick up that part we need'
The inventory they would need to hold to ensure no supply chain risk would be rather high. 
No local community - so where does the workforce come from?   Expats can go to Asia and Africa with the typical expat 'trappings' available there and it's not cold.
UG mining costs of $25/tonne USD??  Is that real?  For example BGL is forecasting $86/tonne AUD...  Not quite apples to apples but again, see above.  Operating in the arctic is not going to be cheap. 

15% IRR....And nearly a billion AUD in capex.  
Razor thin margin in my opinion for a high risk project.  If it was 10 minutes outside of Port Hedland or Kalgoorlie it would be different.  
Mainly underground mining at around 5.0% zinc?  look at all the other zinc mines in the world.  I believe they are all much higher grades/margin per tonne.  In 5 minutes on google I found the following:  
Dugald River = 12%
Golden Grove = 4% (also have 1g/t gold, 1+ oz/t silver, 1% copper - which I think ends up as nearly 10% ZnEq)
Red Dog = 15% + 4% lead  (also in arctic but open pit)
Rampura = 14%
Mcarthur River = 8% (and 4.4% lead and 2oz/t silver)


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## Sean K (22 March 2022)

The Triangle said:


> Sorry for being a Debbie Downer here.  This is another project I can't ever see happening.  I only know of one other Aussie tie-up with the import/export bank and that was Newsat...  And that didn't exactly turnout very well.
> 
> Here are my thoughts on why this is a dud of a project:
> 
> ...




All very good points TT, but there's probably an argument to be made for this to be viable. I'm sure part of the plan is to build and camp and have FIFO (or BIBO) workers. Low IRR and big capex but it's a 20 year LOM and EXIM will just about cover Capex. Are there other zinc mines mining 4.5% Zn? With zinc going up and up that should change the overall financials as well.

Updated presentation here.

The company have finally provided some clearer guidance on the EXIM process and it's much longer than most have anticipated. It looks like there's not going to be a final decision until about November!  🐌  🐌  🐌


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## The Triangle (22 March 2022)

Sean K said:


> All very good points TT, but there's probably an argument to be made for this to be viable. I'm sure part of the plan is to build and camp and have FIFO (or BIBO) workers. Low IRR and big capex but it's a 20 year LOM and EXIM will just about cover Capex. Are there other zinc mines mining 4.5% Zn? With zinc going up and up that should change the overall financials as well.
> 
> Updated presentation here.
> 
> ...



I'm sure it can be viable.  If someone wanted to fund this project right now, I'm sure they could and it would make positive cashflow each year.  But I personally suspect that the operation would struggle to pay back the initial capital outlay.   

With EXIM involved one hopes the US have a strategic interest in Greenland and are happy to develop something there with no anticipation of actually making money.   

I think by that time the funding is sorted out the cost estimates are going to be well out of date.  Zinc prices might be up, but so are/will be the costs associated with building and operating a mine.    EXIM would probably lean towards forcing a public company to keep diluting shareholders to keep the funding flowing.   That's where our mates at places like Glencore and Trafalgar get involved.  They are just as interested in the control of the saleable product as they are the value of their shares.


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## Sean K (31 March 2022)

While we've got a long wait for a decision on the EXIM, this latest news gives me some confidence that it's actually going to happen.

In the Fin:






IBG not mentioned, but these ones were:



> Australian companies that stand to gain include Iluka, Australian Strategic Minerals, Cobalt Blue, Lynas, RZ Resources and VHM. Lithium company Ioneer is seeking funding from the US Department of Energy of about $US500 million ($665.9 million) and is currently in a due diligence process.


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## frugal.rock (3 April 2022)

Have been keeping tabs on zinc price. POZ
If the volumes shown on this monthly chart are correct, I would think supply is quite tight and probably will be for a while.
 I know a stack of the biggest zinc mines closed because of covid (info found in NCZ reports) but not sure where there at now?
(NCZ was one of the top 10 biggest mines to stay open)






GGG recently had issues in Greenland. I believe a change of politics rendered their proposed (uranium or ree?) mining plan go be dumped. 
I don't see zinc as controversial though.
If IBG SP isn't up near 10 cent by the end of the year, I'm a monkeys uncle. 🙈🙉🙊
Not held, but have noticed it ranging lately, which usually indicates to me that its likely off to the races at some point.
Some news flow expected in April by looks of it.


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## Sean K (14 April 2022)

frugal.rock said:


> Have been keeping tabs on zinc price. POZ
> If the volumes shown on this monthly chart are correct, I would think supply is quite tight and probably will be for a while.
> I know a stack of the biggest zinc mines closed because of covid (info found in NCZ reports) but not sure where there at now?
> (NCZ was one of the top 10 biggest mines to stay open)
> ...




Yep, zinc has been running, but I think this may have responded to the loans being dished out for critical minerals and these guys are in the queue. 

I was a bit concerned with the break through the support zone, but it seems to have recovered.

Should be an update on the EXIM process this month.


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## Sean K (14 July 2022)

I'm going to be in a nursing home by the time this EXIM process is finalised. Would be nice if they had have put out a detailed schedule of milestones when this process started up to mining. Maybe the US just work to their own schedule and can't put timeframes on completion of Phase 1,2,3,4,5 or however many phases there are.


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## Sean K (11 August 2022)

More delays in making a decision due to wars and diseases and whatnot. Stretching into 2023. I'll be out of the nursing home and into a hole by the time they get this finance sorted. If I needed the cash I'd be putting my dollars to use elsewhere as this is like watching paint dry.


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## Sean K (17 August 2022)

I watched the MD's Webinar tonight to explain the delays and market conditions for IBG's Citronen Project and it was a very sobering presentation. This isn't getting financed any time soon from what I heard. If at all.


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