Funds for investment Canadian Zinc has announced the closing of its C$20 million (US$15 million) financing which will be used to develop the company’s flagship Prairie Creek zinc-lead-silver project in Canada’s Northwest Territories, and repaying a bridge loan.
Canadian Zinc says the funds for the Prairie Creek project will cover, among others, "additional engineering and permitting work to improve project confidence and general working capital."
The company is listed on the Toronto Stock Exchange (TSX), and holds a 100% stake in the Prairie Creek project.
In addition to its flagship investment, since 2012, the group has been also developing its capacities in a second area of interest in central Newfoundland. Canadian Zinc acquired Paragon Minerals and the company’s portfolio of 10 base and precious metal projects, including the South Tally Pond project. In 2013, the group took over Messina Minerals and the firm’s Tulks South and Long Lake projects, according to data from Canadian Zinc.