New Risk • May 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (86% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$35.3m market cap, or US$25.2m). Recent Insider Transactions • May 12
Director recently bought AU$76k worth of stock On the 8th of May, Danny Segman bought around 300k shares on-market at roughly AU$0.25 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$138k more in shares than they have sold in the last 12 months. Recent Insider Transactions Derivative • Mar 21
Executive Chairman exercised options to buy AU$755k worth of stock. On the 19th of March, Nikolai Zelenski exercised options to buy 3m shares at a strike price of around AU$0.30, costing a total of AU$795k. This transaction amounted to 57% of their direct individual holding at the time of the trade. Since June 2025, Nikolai's direct individual holding has increased from 3.00m shares to 4.67m. Company insiders have collectively bought AU$1.0m more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Jan 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$41.6m market cap, or US$29.3m). New Risk • Jan 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 79% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$36.6m market cap, or US$24.6m). Annuncio • Jan 09
Skylark Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million. Skylark Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 17,577,446
Price\Range: AUD 0.18
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,978,110
Price\Range: AUD 0.18
Transaction Features: Subsequent Direct Listing Annuncio • Nov 24
Skylark Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 10 million. Skylark Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 17,577,446
Price\Range: AUD 0.18
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,978,110
Price\Range: AUD 0.18
Transaction Features: Subsequent Direct Listing Annuncio • Oct 07
Skylark Minerals Limited, Annual General Meeting, Nov 27, 2025 Skylark Minerals Limited, Annual General Meeting, Nov 27, 2025. New Risk • Jul 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 31% per year over the past 5 years. Shareholders have been substantially diluted in the past year (419% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$16.9m market cap, or US$11.0m). New Risk • Jan 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 451% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (50% average weekly change). Earnings have declined by 50% per year over the past 5 years. Shareholders have been substantially diluted in the past year (451% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$21.1m market cap, or US$13.1m). Annuncio • Jan 03
Ironbark Zinc Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million. Ironbark Zinc Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: AUD 0.2
Discount Per Security: AUD 0.012
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Board Change • Jan 03
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 3 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Non-Executive Director Fred Hess is the most experienced director on the board, commencing their role in 2019. Independent Non-Executive Director Paul Cahill was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Board Change • Dec 18
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Director Paul Cahill was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 29
High number of new directors Director Danny Segman was the last director to join the board, commencing their role in 2024. Annuncio • Nov 29
Ironbark Zinc Limited Appoints Danny Segman as Director Ironbark Zinc Limited announced the appointment of Mr. Danny Segman as director. Date of appointment is on 28 November 2024. Annuncio • Nov 28
Ironbark Zinc Limited Announces Resignation of Bruce Garlick as Non-Executive Director Ironbark Zinc Limited announced that Mr. Bruce Garlick has resigned from his position as Non-Executive Director, effective 28 November 2024. Annuncio • Nov 01
Ironbark Zinc Limited has filed a Follow-on Equity Offering in the amount of AUD 10 million. Ironbark Zinc Limited has filed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: AUD 0.2
Discount Per Security: AUD 0.012
Transaction Features: Subsequent Direct Listing Annuncio • Oct 08
Ironbark Zinc Limited, Annual General Meeting, Nov 28, 2024 Ironbark Zinc Limited, Annual General Meeting, Nov 28, 2024. Annuncio • Jul 04
Ironbark Zinc Limited (ASX:IBG) acquired 80% stake in TWO HIGHLY PROSPECTIVE COPPER PROJECTS IN MT ISA, QLD from Aeon Metals Limited (ASX:AML). Ironbark Zinc Limited (ASX:IBG) agreed to acquire 80% stake in TWO HIGHLY PROSPECTIVE COPPER PROJECTS IN MT ISA, QLD from Aeon Metals Limited (ASX:AML) for AUD 0.1 million on June 4, 2024. The consideration consists of AUD 0.1 million in cash and will be paid in two parts. As part of the consideration, AUD 0.1 million was paid towards assets. The deal is subject to consummation of due diligence investigation.Ironbark Zinc Limited (ASX:IBG) completed the acquisition of 80% stake in TWO HIGHLY PROSPECTIVE COPPER PROJECTS IN MT ISA, QLD from Aeon Metals Limited (ASX:AML) on July 2, 2024. New Risk • Mar 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.4m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 68% per year over the past 5 years. Revenue is less than US$1m (AU$7.6k revenue, or US$5.0k). Market cap is less than US$10m (AU$7.97m market cap, or US$5.25m). Minor Risk Shareholders have been diluted in the past year (8.7% increase in shares outstanding). New Risk • Dec 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 79% per year over the past 5 years. Earnings have declined by 79% per year over the past 5 years. Revenue is less than US$1m. Revenue is less than US$1m. Market cap is less than US$10m (AU$11.2m market cap, or US$7.48m). Market cap is less than US$10m (AU$11.2m market cap, or US$7.48m). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (8.7% increase in shares outstanding). Annuncio • Dec 11
Ironbark Zinc Limited has completed a Follow-on Equity Offering in the amount of AUD 0.6 million. Ironbark Zinc Limited has completed a Follow-on Equity Offering in the amount of AUD 0.6 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 120,000,000
Price\Range: AUD 0.005
Discount Per Security: AUD 0.0003
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Oct 05
Ironbark Zinc Limited, Annual General Meeting, Nov 22, 2023 Ironbark Zinc Limited, Annual General Meeting, Nov 22, 2023. Recent Insider Transactions Derivative • Nov 24
MD & Director exercised options to buy AU$88k worth of stock. On the 22nd of November, Michael Jardine-Hargrave exercised options to buy 8m shares at a strike price of around AU$0.011, costing a total of AU$88k. This transaction amounted to 38% of their direct individual holding at the time of the trade. Since June 2022, Michael's direct individual holding has increased from 19.40m shares to 21.15m. Company insiders have collectively bought AU$114k more than they sold, via options and on-market transactions, in the last 12 months. Annuncio • Oct 07
Ironbark Zinc Limited, Annual General Meeting, Nov 28, 2022 Ironbark Zinc Limited, Annual General Meeting, Nov 28, 2022. Executive Departure • Oct 12
Non-Executive Director Maciej Sciazko has left the company On the 1st of October, Maciej Sciazko's tenure as Non-Executive Director ended after 3.2 years in the role. We don't have any record of a personal shareholding under Maciej's name. Maciej is the only executive to leave the company over the last 12 months. Annuncio • Feb 12
Ironbark Zinc Limited Provides a JORC 2012 Compliant Exploration Target for the Citronen Project Ironbark Zinc Limited provided a JORC 2012 compliant Exploration Target for the Citronen Project. Project Highlights: Updated geology model and Exploration Target, completed as part of the ongoing Bankable Feasibility Study refresh, confirms Citronen contains substantial exploration upside beyond current Mineral Resource; The Exploration Target is comprised of six areas; four of which are adjacent to current Esrum, Beach and Discovery Zone orebodies; and Substantial systematic multi-year exploration and resource development program, including geophysics, planned to coincide with the beginning of project construction Ironbark has identified an Exploration Target, in addition to the known Mineral Resource, of 40 Mt to 90 Mt at 5.0% to 7.1% zinc + lead combined. The Exploration Target is based upon review of project drilling, rock chip samples and the limited geophysical data available. A 3D geological model of the project was used to assist in identifying prospective areas. The Citronen ore body is currently defined as one of the largest undeveloped zinc resources in the world. The mineralisation was first discovered in 1993 from an extensive (+2km) zone of out-cropping sulphide mineralisation now known as the Discovery Zone (Figure 2). From this region, the drilling expanded out with the aid of some minor geophysics. Three hundred diamond drill holes for approximately 66,000m have been completed at the Project to date. The result was the definition of three deposits known as the Discovery, Beach and Esrum zones. Citronen is a sediment hosted deposit. These deposits have typically been organised into two subgroups - sedimentary exhalative (SEDEX) and Mississippi Valley Type (MVT). Recent studies propose that some deposits previously classified as SEDEX lack evidence of the "exhalative" component (Taylor, 2009) and therefore, for the purposes of exploration targeting, it is more appropriate to treat these two deposits types as one. This approach draws on the relation that ores classified as SEDEX in Leach et al. (2005) are hosted in clastic-dominated sedimentary rock sequences in mainly passive margin, continental rifts and sag basins. The mineralisation is hosted in multiple deposits in multiple horizons (Emsbo et al., 2016). The result of compiling these deposits which highlights how these deposits form in `camps' or groups such as Mt Isa-McArthur Basin (Century, Mount Isa and Hilton-George Fisher deposits) in Queensland and Brooks Range, Alaska, USA which is host to the giant Red Dog deposit. The Franklinian Basin which hosts Citronen is considered highly prospective for zinc mineralisation, it was also host to the now exhausted Polaris and Nanisivik mines in Canada and there are numerous other zinc prospects throughout northern Greenland. The Citronen Deposit is open in almost every direction and Ironbark is confident the resource will be expanded with further exploration drilling. The three known orebodies at Citronen share common metallurgy and orientation with only minor differences in the metal grade and zinc - lead ratios. The orebodies are all primarily zinc deposits with minor accessory lead mineralisation. The orebodies are each centred on a historic sulphide mound that has been covered with sediment in episodic events. In some cases, the mineralising events have reactivated later and created a series of stacked lodes termed Level 1, Level 2 and Level 3. The relatively flat-lying orebodies at Citronen have proven to be continuous with the Beach Zone mineralisation extending uninterrupted over 2,500 metres. Promisingly, it remains open to the south. The confidence level to extend these orebodies laterally is very high with the potential likelihood that further lenses will be discovered beneath the currently defined orebodies. The mineral resources currently defined at Citronen are hosted above the Lower Debris Flow geological unit. Very few holes were drilled through the Lower Debris Flow as drilling was predominantly focused on near surface, lateral extension and increasing the confidence levels (i.e. resources category). However, three holes in 1995 were drilled through the Lower Debris Flow and intersected semi-massive to massive pyrite mineralisation indicating the possibility of a Level 4 sulphide horizon. The peak grade intersected was in hole CF95-56 which returned 0.55m @ 0.3% Zn & 0.21% Pb from 343.35m. Mineralisation (4.5 - 5% Zn+Pb) has been encountered almost 4 km north west of the most northern of the known Mineral Resources, at the Western Gossans, and drill intercepts of >14% zinc have been encountered on the most southern drill hole as shown on Figure 1. Each ore body is limited only by drilling and remain open in several directions. The probability of significantly expanding the resource is considered very high. The Exploration Target of 40Mt to 90 Mt at 5.0% to 7.1% zinc + lead combined is based upon review of project drilling and the limited geophysical data available. A 3D Geological model of the project was used to assist in identifying prospective areas. Each area was systematically reviewed with tonnage ranges based on conceptual target sizes and area prospectivity. Exploration Target zinc and lead grade ranges and rock densities are based upon typical grades observed from the current Citronen Resource. The Exploration Target calculation has been based on a combination of actual exploration results as discussed in this report and proposed exploration programmes. The grade of zinc and lead mineralisation in the target areas is expected to be similar to that estimated in the resource area. There are several areas, as shown on Figure 8, where the resource block model shows high grades on the edge of the resource, and the adjacent exploration target areas therefore may also contain higher average grades. The Western Gossans is the most north-westerly area of known mineralisation within the Citronen Project and remains under-explored. Several high-grade rock chip samples (including 29.97% Zn+Pb and 14.12% Zn+Pb) have been taken from this area and not followed up with drilling; and of the four holes drilled in the area - each hole intercepted mineralisation. Annuncio • Oct 15
Ironbark Zinc Limited Updates on Fiery Creek Copper-Gold Project Ironbark Zinc Limited (Ironbark, the Company or IBG) updated its shareholders with respect to the status of its 100% owned Fiery Creek Gold Project in NSW (recently renewed until October 2021). The Fiery Creek Gold Project (EL 6925) is located approximately 90km south, south-east of Canberra in New South Wales, approximately 5km along strike of the historic Cowarra Gold Mine. While Ironbark has held EL 6925 since 2007, it has received relatively little attention in recent years. With the recent tenement renewal application successful however, and the continued strong upwards movement in the AUD gold price over 2020, the Ironbark Board has resolved to revisit the copper and gold potential on EL 6925 with respect to a prospective new exploration program. The Fiery Creek prospect consists of an NNW-SSE elongated system of quartz-vein hosted copper and gold mineralisation. The system extends for approximately 11 kilometres to the north and includes the similar Macanally system. Extensive small-scale workings define the strike extent of both sets of workings (Figure 2), which are located along the same regional shear which hosts the Cowarra gold mine, located some 12 kms further to the north. The NNW-SSE structure is considered to be a shear system hosting mineralisation which is very similar to that at the Cowarra mine. Geological field mapping and logging of limited diamond drill holes has determined that the controls on gold mineralisation at Fiery Creek are similar to those at Cowarra, with an anastomising shear zone the main controlling structure. Ironbark Exploration: Since grant of the exploration licence, Ironbark has taken 61 rock chip samples which have returned extremely high gold grades including 253 g/t Au (FR032), 49.9 g/t Au (FR006) and 53.4 g/t Au (FR049); high copper grades including 15.25% Cu (FC01) and 14.85 % (FR053). Sample FR053 also returned 9.25 g/t gold and 137.0 g/t silver. Annuncio • Sep 26
Ironbark Zinc Limited Provides Update on the Recently Completed Mining Review for the Company's 100% Owned Citronen Zinc-Lead Project in Greenland (Citronen) Ironbark Zinc Limited to provide an update on the recently completed mining review undertaken by leading international Mining Consultancy Mining Plus (Optimisation Study) for the Company's 100% owned Citronen Zinc-Lead Project in Greenland (Citronen). Highlights are: Mining optimisation conducted at USD1.20/lb (USD2,645/t) in current study (vs. USD 1.38lb in 2017); 3.3Mtpa operation confirmed as the optimum scale; An additional 90,000t of Zn metal delivered in first 6 years vs. prior plan; Initial 14yr mine life confirmed from a combined Underground and Open Pit Operation; Introduction of design flexibility to accommodate extensions to mine life in the event of a continuing rising Zn price; Integration of progressive ore pillar recovery using tailings as backfill into mining method; Improved safety and operating practices arising from the adoption of a twin decline design; All mining costs, both capex and opex, have been derived from first principles using current technologies and resource pricing; and Concentrate offtake agreements with major IBG shareholders Glencore Pls and Trafigura persist such that 70% of the Zinc concentrate to be produced from Citronen is committed. In early 2020, the Ironbark Board committed to undertake a comprehensive revision of the Feasibility Study for the Citronen Project to ensure that it reflected the significant advance in technologies and changes in pricing that have occurred since the original study was first completed. As part of that 2020 program to update the Citronen development plan, Ironbark engaged Mining Plus to undertake the mine plan optimisation using current technologies and costs, and, to report a maiden JORC Ore Reserve for the project. This work consisted of five key areas: Review and update the cut-off grade assumptions and sensitivity; Mine design including sequencing, scheduling and ventilation modelling; Mining fleet selection; Update the capex and opex estimates and mining cost model; and Reporting a maiden JORC 2012 compliant Ore Reserve.
Assisted by teams in Melbourne and Canada, where Mining Plus has personnel with significant Arctic mining experience, the study ran from February to August 2020. The timeline for completion was unavoidably extended due to the outbreak of the Covid-19 pandemic and its impact on personnel and work practices. Results: The newly optimised Citronen Mine Plan considerably de-risks the mining operation in a number of key areas, as well as significantly improving both the project economics and overall understanding of how the ore body is optimally mined (with respect to future optionality in the event of a rising Zn price). Consistent with the Board's intention to further de-risk the project development, several key pricing and production assumptions were adjusted to reflect a more conservative approach. Development rates were altered to reflect a more considered production ramp up, twin access declines have now been adopted in the mine plan (with substantial opex, efficiency and safety benefits), and the planning behind the proposed Cut & Fill mining method was resolved in greater detail than in previous studies. The goal of optimising high-grade pillar recovery by using frozen backfill was also explored in depth and continues to form part of the mine plan. 
