Ironbark's board of directors and managment are focused on delivering shareholder value through the development of the Company's major base metal mining operation at its Citronen Zinc-Lead deposit in Greenland, and the acquisition of quality base metals projects.
Highlights from the Citronen Project include the release of both its January 2012 JORC resource and the results from the Feasibility Study in April this year.
Citronen's January 2012 JORC resource:
Global Resource: 132.0Mt @ 4.5% Zn + Pb (2% Zn cut-off)
Medium Grade :70.8Mt @ 5.7% Zn + Pb (3.5% Zn cut-off)
(calculated using Ordinary Kriging methodology)
Highlights of the Citronen Feasibility Study include:
NPV: US$609 Million (US$354M post tax)
IRR: 32.0% (22.2% post tax)
Equity Return: 37.9% (Geared NPV after tax)
Capital Cost: US$429.3 Million inc contingency (US$484.8M with First Fills)
Operating Cost: US$0.68/lb Zn (Payable, Net of by-product credits, Years 1-5, Smelter fees additional US$0.22/lb Zn)
Mine Life: 14 years
Life of Mine Revenue: US$5.65 Billion
Life of Mine Operating Costs: US$3.42 Billion