Having changed its name and altered its corporate direction, Ironbark Zinc Ltd has significantly de-risked its Citronen lead/zinc project in northern Greenland after striking an equity/off-take deal with Belgian zinc smelting giant Nyrstar NV. Under the agreement, which was finalised late last year, Nyrstar acquired up to 19.9 percent in Ironbark via a 6.6 million dollars placement and up to 35 percent of output from Citronen. Depending on market conditions, production could start within the next three to five years.
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