Australia's Ironbark Zinc hits near 4-yr high, gets preliminary nod for $657 mln funding

Skylark Minerals

10/12/2021 03:50

** Shares of Ironbark Zinc Ltd  IBG.AX  jump as much as
74.5% to A$0.082, their highest since Jan. 2018, after a trading
halt 
    ** Zinc and gold miner posts its biggest intraday pct change
since Nov, 2020
    ** Co gets https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02464035-6A1067585?access_token=83ff96335c2d45a094df02a206a39ff4
 preliminary funding approval for up to $657 mln from U.S. EXIM
Bank on Wednesday
    ** Debt funding to be used for development of Citronen
Zinc-Lead Project in Greenland
    ** IBG, on Friday, also raises https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02465156-6A1067971?access_token=83ff96335c2d45a094df02a206a39ff4
 A$4 mln($2.86 mln) via placement to support due diligence with
US EXIM
    ** More than 48 mln shares change hands, over 20x their
30-day average volume of 2.4 mln shares
    ** Stock's busiest trading day since Nov. 2020
    ** IBG more than doubled this year, as of last close on Dec.
7
    
  


($1 = 1.3965 Australian dollars)

 (Reporting by Dhriti Garg in Bengaluru)
 ((dhriti.garg@thomsonreuters.com))