Ironbark gears up for zinc production in Greenland
Ironbark Zinc is hurtling headlong towards production in the mineral rich province of Greenland with the appointment of several production focused senior staff at the company's massive 100% owned, Citronen Zinc Project.
Michael Bourguignon has been appointed as Project Director to oversee the project as it enters the production phase, currently forecast for 2019.
Bourguignon's most recent role was as Capital Project Manager for revered graphite player, Syrah Resources, where he was in charge of planning, coordination and the execution of multiple contracts for the construction of the large processing plant at the company's Balama Graphite Mine in Mozambique.
Ultimately he was responsible for taking the operation through to production.
Bourguignon was also the General Manager of Projects for Tiger Resources, overseeing the construction and completion of the processing infrastructure at the Kipoi Copper Mine in the DRC.
In a sign that Ironbark's Citronen project is most likely now on the home straight, Mining Plus have also been engaged to provide engineering and technical input into the design of the open pit and underground mine schedule for the project.
Henrik Laursen has been hired as the Logistics Manager for the project and boasts over 12 years' experience in Logistics Management, gained through his background with the Arctic Command Division of the Danish Military.
He already has extensive knowledge of the Citronen Project through past dealings with Ironbark in Greenland.
John Fitzgerald will take the role of Finance and Commercial Advisor at Ironbark and will work closely with Cutfield Freeman & Co., to assist the company to structure financing for the project. Fitzgerald previously held senior positions at NM Rothschild & Sons, Investec Bank Australia, CBA and HSBC Precious Metals.
With the zinc price currently at US$3,400/tonne and almost doubling in the last five years, the new appointments at Ironbark look timely and the company now looks set to usher in a new era after staying the course in Greenland.
Ironbark's Citronen Project remains one of the largest undeveloped zinc projects in the world, offering strong leverage to the rising zinc price with exceptionally high projected revenues and a strong NPV.
Ironbark's project is colossal in size, located in a politically stable jurisdiction with a history of zinc mining and importantly, it already has granted mining tenure and an MOU in place with China Nonferrous for project finance, construction and off-take.
Ironbark has no debt, a modest market cap and an ore system with simple metallurgical processing characteristics that will allow the company to churn out a highly sought after concentrate.
Ironbark now has an army of helpers solely focussed on catapulting Citronen into production and the clock is now ticking on this goliath of a project.
Ironbark Zinc (IBG)
Closing price for the last 90 trading days
Powered by Morningstar ®