Ironbark Zinc Ltd (ASX:IBG) has appointed London-based Bachhus Capital Advisers (BCA) to assist the board with achieving a positive final investment decision in 2021 for the Citronen Project in Greenland.
BCA, led by Peter Bacchus, has extensive experience in resource capital markets, including in the Northern Hemisphere, where Ironbark is expected to focus its FID process in 2021.
Peter Bacchus has raised in excess of $15 billion in public and private capital for the global natural resources sector and completed some of the industry’s most transformational transactions.
The mandate is for an initial 12-month period and BCA’s broad scope of work covers potential debt and equity raisings, M&A and takeover defence, considerations pertaining to potential project partners and major commercial opportunities.
IBG believes that BCA is well-positioned to assist the company to address these key challenges.
Skills well-suited to 2021 demands
Managing director Michael Jardine said: “Peter Bacchus and his advisory team bring a comprehensive set of skills and relationships that are exceptionally well suited to the demands for Ironbark’s pivotal year ahead.
“BCA has an unrivalled track record and reputation for successful financial mandate execution. While Ironbark has established crucial commercial relationships with several third parties in the past (eg Glencore and Trafigura) and more recently (eg US EXIM Bank), it is clear that more can to be done to ensure the successful development of the Citronen Project.
“The injection of the experience and expertise of BCA and its access to Northern Hemisphere capital markets is viewed as the potential catalyst for building investor and lender confidence in the Citronen story, which will be the prelude to securing a finance package that will underpin its development.
“In conjunction with the push towards delivering a thoroughly revised Bankable Feasibility Study in early 2021, today’s announcement is a further step in elevating the marketing of the Citronen Project to a wider international audience, a key objective of the board.”