- Ironbark Zinc (IBG) has ended the week in a trading halt as it prepares for an upcoming capital raise
- Currently, it is unknown how much the company is aiming to raise or where the funds will be spent
- Under the halt, company shares will be paused until Tuesday, March 9, or when more information about the raise is released to the market
- At the end of December quarter, Ironbark had over $1.4 million in cash and cash equivalents
- On the market, Ironbark last traded at 2.7 cents per share on March 4
Ironbark Zinc (IBG) has ended the week in a trading halt as it prepares for an upcoming capital raise.
So far, there are no details on how much the company is aiming to raise or where the funds will be spent.
The halt means Ironbark’s shares will be paused until Tuesday, March 9, or when it releases more information about the raise to the market, whichever one comes first.
Ironbark is a resource company mainly focussed on exploring its Citronen Project in Greenland.
Earlier this week, Ironbark extinguished a life-of-mine production royalty at Citronen.
The company first announced the buyback of the net smelter royalty in February and has now settled the transaction.
For the December quarter, Ironbark used $113 million in operating activitiesm and at the end of the period had just over $1.4 million in cash and cash equivalents.
On the market, Ironbark last traded at 2.7 cents per share on March 4.