Global company Nystar will pay $6.6 million to buy a major stake in Subiaco-based Ironbark Gold, and has agreed to a life-of mine offtake deal for the latter's Citronen lead-zinc project.
Two Western Australian mining companies have warmed to the idea of heading to the Arctic north, with Greenland becoming the main focus for Ironbark Gold Ltd and Greenland Minerals and Energy Ltd.
Subiaco-based Ironbark Gold Ltd has taken a 5.4 per cent stake in West Perth-based gold explorer Sabre Resources, through the purchase of 4 million shares in the company worth around $2 million.
West Perth-based Ironbark Gold Ltd will subdivide its issued capital on a basis of five shares for every one held, to increase liquidity and affordability of its shares, as well as completing the acquisiton of the Citronen Zinc Project.
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.
SHARES in mineral explorer Ironbark Gold Ltd rocketed higher last week after it agreed to acquire a zinc project in Greenland in a cash and scrip deal worth more than $20 million.
Shares in mineral explorer Ironbark Gold Ltd rocketed higher today after it agreed to acquire a zinc project in Greenland in a cash and scrip deal worth in excess of $20 million.
The market may be getting the jitters over commodity prices but there are still a host of resources-related floats seeking to make the most of the buoyant capital markets.
