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Ironbark Gold aiming to raise $25.7m

SUBIACO-BASED Ironbark Gold Ltd has announced plans to raise $25.7 million through a series of placements to finalise its acquisition of the Citronen zinc project and provide it with adequate working capital. The company acquired the Greenland mine after spending $6 million in cash and issuing eight million in shares and 16 million options to the Citronen owners. The site has an estimated resource of 17 million tons at 8.3 per cent zinc equivalent.

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