ASX-listed zinc juniors Terramin and Ironbark have separately reported progress on their long-dated Algerian Tala Hamza and Greenland-based Citronen projects respectively.
After almost 20 years of Terramin planning the project, the Algerian government has signed a decree that will allow access to all land defined by the mining permit, the company's executive officer Martin James said.
Along with the project mining and processing operations, the roughly 234 hectares of land will support a direct ramp access to a highway - which is currently under construction - that leads about 15km to the north to the Port of Bejaia. It'll also support electricity and gas infrastructure, Terramin said.
It's unclear how much the land will cost. Terramin was not available for immediate comment.
The move follows the company in May getting the mining permit. It owns 49% of the project, with two Algerian state-owned companies holding the rest.
Tala Hamza is planned to be larger than the 1.3 million tonne per annum level outlined in a 2018 definitive feasibility study, with the permit allowing the project to run at 2Mtpa over the expected 21-year mine life.
The project was last costed at A$450 million (US$285 million) and is expected to produce an average 129,3000tpa of zinc concentrate and 26,000tpa of lead concentrate.
Terramin had cash and equivalents of A$54,000 at the beginning of the September quarter.
Earlier this week, the company announced that its wholly owned subsidiary, Terramin Exploration, entered into an agreement with major shareholder Asipac to increase its standby term facility from A$3.2 million to $4.1 million.
Terramin's share price was last quoted at A2.6c, capitalising it at A$55 million.
Ironbark frees up time for field planning
Meanwhile, Ironbark, which, in August, conceded a development decision this year would not be met, expects to make ‘material' progress this quarter on identifying a potential joint venture partner for its Citronen project in Greenland.
A bankable feasibility study reported in mid-2021 outlined a $654 million development producing about 130,000t per annum of zinc in concentrate for 20-years with a post-tax net present value of A$363 million.
Ironbark, which had A$863,000 at the end of September, is also pointed to being on the hunt for a veritable ‘unicorn' project - that is, a high-value exploration opportunity in the base and battery metals space, with a geographic preference for Australia (particularly Western Australia), and one that is scale appropriate and able to provide for consistent and year-round newsflow.
"We are very long both zinc development and Greenland currently and the board is firmly of the view that a more balanced project portfolio will see renewed interest in the fortunes of Ironbark Zinc," the junior said in a market statement.
At a share price of A6c, Ironbark has a market capitalisation of A$9.5 million.
