Past year: ▼ 40%(2.50c – 5.00c CAD)
Each one in plain English, with the numbers worked through for a shareholder.
7 July 2016capital raising announcement▼ BadMajor
A $10.2 million offering closed with the over-allotment taken in full: 34,135,000 common shares and 6,665,000 flow-through shares, all priced at $0.25. That is well below the $0.35 unit price of the July 2014 raise, and the proceeds are for feasibility and development work at Prairie Creek and exploration in Newfoundland.
16 May 2016resource reserve update● Neutral
The full 4.2 MB Prairie Creek prefeasibility update technical report, effective 31 March 2016 and prepared by AMC Mining Consultants with Tetra Tech, filed with the SEC together with the six qualified persons' consents.
13 May 2016resource reserve update▲ Good
The technical report behind the 2016 prefeasibility study is filed. It records a 32% rise in measured and indicated resources and a 46% rise in proven and probable reserves against the 2012 estimates, and average annual output of roughly 86 million lb zinc, 82 million lb lead and 1.7 million oz silver over an initial 17-year life.
31 Mar 2016resource reserve update▲ GoodMajor
The 2016 prefeasibility study turns the enlarged resource into a 17-year mine life, with a pre-tax net present value of $509 million at an 8% discount rate and a 32% return, or $302 million and 26% after tax, using US$1.00/lb for zinc and lead and US$19/oz silver. Planned output is about 60,000 tonnes of zinc concentrate and 55,000 tonnes of lead concentrate a year.
13 Nov 2015quarterly activities report▼ BadMajor
Third-quarter 2015 results: $7.0 million was spent on Prairie Creek exploration and development in nine months, and working capital stood at $2.66 million. A further $1.55 million was posted with the Northwest Territories government as reclamation security, and the nine-month net loss was $8.2 million.
17 Sept 2015resource reserve update▲ GoodMajor
The 2015 underground drilling paid off in the estimate: measured and indicated resources rose 32% to 8.7 million tonnes from 6.6 million, the Main Quartz Vein indicated tonnage up 48% to 4.2 Mt at 11.6% lead, 9.2% zinc and 168 g/t silver, and stockwork indicated up 40% to 2.0 Mt. Total inferred tonnage is unchanged because vein tonnes upgraded to indicated were replaced by newly inferred stockwork, and as in March the added tonnes carry lower grades than the ones they join.
11 Aug 2015drilling result▲ GoodMajor
The final seven holes all hit mineralisation and the northernmost was the best of the year: PCU-15-72 returned 7.5 m at 33.67% zinc, 17.77% lead and 247 g/t silver in vein, then 24.5 m at 11.95% zinc, 6.92% lead and 116 g/t silver of stockwork, then a second vein over 4.5 m. PCU-15-69 gave 13.0 m at 28.15% zinc, 21.5% lead and 452 g/t silver. Mineralisation is still open to the north, into ground currently classed as inferred.
24 June 2015drilling result▲ GoodMajor
A second, previously unknown vein was found 75 m into the footwall of the Main Quartz Vein: PCU-15-62 cut 5.4 m at 19.8% zinc, 8.3% lead and 150 g/t silver, and PCU-15-65 intersected it again on the next section 50 m north. The same batch produced the program's thickest vein intercept, 8.4 m at 22.7% lead, 9.7% zinc and 226 g/t silver in PCU-15-64, and stockwork of 2.4 m at 32.7% zinc, 24.7% lead and 311 g/t silver.
9 June 2015drilling result▲ GoodMajor
Underground chip sampling in the Northwest Drift on the 870 m level returned 4.4 m of true width grading 14.2% zinc, 5.6% lead and 119 g/t silver over 71.8 m of strike. This pointed to the potential of the stockwork for early, selective mining.
14 May 2015auditor change● Neutral
Ernst & Young will not be proposed for reappointment at the 23 June 2015 annual meeting and KPMG is put forward instead. The notice records no modified audit opinions since January 2013 and no reportable events, so this is a change of firm rather than a disagreement.
5 May 2015drilling result▲ GoodMajor
All four of the first underground holes hit the Main Quartz Vein. The best, PCU-15-53, returned about 3.0 m of true width grading roughly 30% zinc, 27.5% lead and 289 g/t silver, though the release transposes the zinc and lead figures between its headline and its text. PCU-15-52 gave 5.36 m of stockwork at 11.9% zinc, 7.2% lead and 89 g/t silver. These are the grades needed to move inferred tonnes into the indicated category for the coming study update.
31 Mar 2015annual report● Neutral
Full-year 2014 results and 2015 outlook. The underground drill program is on its seventh hole and due to finish in the second quarter; its results are to feed a new resource estimate, then a new reserve and mine plan, then an updated prefeasibility study, which the company describes as the route towards full feasibility and project financing.
26 Mar 2015resource reserve update● NeutralMajor
AMC's rebuilt Prairie Creek estimate raises measured and indicated resources to 6.59 million tonnes at 10.2% zinc, 9.5% lead and 147 g/t silver from 5.43 million tonnes at 10.8%, 10.2% and 160 g/t in 2012, and inferred to 7.08 million tonnes at 11.7% zinc, 9.6% lead and 177 g/t silver from 6.24 million tonnes at 14.5%, 11.5% and 229 g/t. More tonnes at lower grades: the extra tonnage comes from 50 additional holes and underground chip sampling, and the fall in inferred grade from tighter geological constraints and a change of estimation method, not from anything found underground.
13 Nov 2014quarterly activities report● Neutral
Third-quarter 2014 results, not a drill release: a net loss of $3.7 million for the quarter and $8.8 million for nine months, against $16 million of working capital after July's raise. Underground work at Prairie Creek begins with dewatering the 650 m decline and restoring power and ventilation, ahead of drilling intended to move inferred resources into the indicated category.
21 Oct 2014drilling result▲ Good
Eleven holes for 2,712 m extended the Long Lake massive sulphide zone up-dip, down-dip and along strike, with LL14-50 returning 1.20 m at 25.50% zinc, 5.90% lead, 1.29% copper, 189.7 g/t silver and 1.87 g/t gold and LL14-52 1.10 m at 19.56% zinc. Very high grades over one to two metres, against a deposit that holds only 0.48 million tonnes indicated.
7 Oct 2014material agreement▲ GoodMajor
Procon Mining and Tunneling won the tender to rehabilitate the Prairie Creek workings and carry out underground development and initial production. Procon did the 2004/5 rehabilitation and drove the 650 m exploration decline in 2006/7, and it is that decline the new drilling will be collared from.
11 Sept 2014drilling result● Neutral
Thirteen holes for 4,060 m of the planned 8,000 m Newfoundland program are done. GA14-278 returned 2.37 m at 13.23% zinc, 8.24% lead, 0.70% copper, 135.8 g/t silver and 0.67 g/t gold down-dip of the Hurricane prospect, and GA14-281 gave 2.49 m at 4.45% zinc between the Boomerang and Domino lenses; both are far narrower than the 15.3 m intercept that made Hurricane a target in the first place. Gerald Squires was appointed Newfoundland exploration manager.
31 July 2014capital raising announcement● NeutralMajor
The bought deal closed at $15.75 million gross, $10.0 million of units at $0.35 and $5.75 million of flow-through shares at $0.38 after the underwriters took part of the over-allotment. The unit money is for starting underground development at Prairie Creek, opening the winter access road, finishing the optimisation study and posting reclamation security.
24 July 2014resource reserve update● Neutral
Not new work. After the British Columbia Securities Commission reviewed the company's preliminary prospectus, Canadian Zinc re-filed its August 2012 Prairie Creek technical report to add post-tax economic figures, and re-filed the 2013 annual information form and management's discussion to match and to describe its assay and testing procedures.
10 July 2014capital raising announcement● NeutralMajor
A $15 million bought deal is agreed with Dundee, Canaccord Genuity and Paradigm: 13,160,000 flow-through shares at $0.38 for $5.0 million and 28,572,000 units at $0.35 for $10.0 million, each unit carrying half a warrant exercisable at $0.50 for three years.
What it means for a shareholder
28.6m new shares at $0.350 to raise about $10.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
18 June 2014drilling progress report● Neutral
An 8,000 m, two-rig program is announced for the Tulks South and Long Lake projects in Newfoundland, targeting the Hurricane prospect and extensions to two deposits whose estimates date from 2007 and 2012 and have not been revised since: Boomerang-Domino at 1.36 Mt indicated grading 7.1% zinc, 3.0% lead, 110 g/t silver and 1.7 g/t gold, and Long Lake at 0.48 Mt indicated grading 7.8% zinc.
16 May 2014quarterly activities report● Neutral
First-quarter 2014 results, not a drill release: a net loss of $2.0 million against $4.7 million a year earlier, and working capital of $9.2 million. Prairie Creek is in an optimisation study meant to build on SNC-Lavalin's 2012 prefeasibility study, with the Newfoundland drilling the only field work under way.
29 Jan 2014drilling progress report● Neutral
An eight-to-ten hole, 3,000 m winter program starts at the Lemarchant Northwest zone, funded from the $4 million flow-through placement that closed in August 2013. The deposit's standing estimate is still the 2012 one: 1.24 Mt indicated at 5.38% zinc, 1.19% lead, 0.58% copper, 59.17 g/t silver and 1.01 g/t gold, plus 1.34 Mt inferred at lower grades.
12 Dec 2013drilling result▲ GoodMajor
In Newfoundland, 15 holes for 4,928 m extended the Northwest zone found earlier in 2013, 250 m from the Lemarchant deposit, to a 100 m strike length that is still open. The best intercept was 8.7 m at 8.21% zinc, 3.66% lead, 0.72% copper, 150.0 g/t silver and 3.24 g/t gold, with single samples of 463 g/t silver over 1.0 m and 17.5 g/t gold over 0.8 m.
9 Dec 2013drilling result▼ Bad
The 2013 Prairie Creek program was small, 1,472 m in five holes, and its main target failed: the electromagnetic anomaly found in 2012 was tested by PC-13-220 and PC-13-222 and interpreted as natural graphite in the Road River Formation rather than sulphide. The holes did return vein and stockwork mineralisation above and outside the current resource, best 5.1 m at 13.2% zinc, 8.0% lead and 144 g/t silver.
11 June 2013asset acquisition disposition▲ GoodMajor
Canadian Zinc raised US$10 million by selling Sandstorm Metals & Energy a 1.2% net smelter return royalty over Prairie Creek, keeping a 30-month right to buy it back at cost if Sandstorm funds a metal stream of at least US$90 million, on which Sandstorm took first refusal. Money raised without issuing shares, against a reserve of 5.2 million tonnes at 9.4% zinc, 9.5% lead and 151 g/t silver and a 2012 study showing a $193 million capital cost.
12 Dec 2012drilling result▲ GoodMajor
The 2012 program drilled 5,629 m in 12 holes at Prairie Creek and produced the richest silver ever reported on the property, 1.3 m at 2,059 g/t silver in PC-12-216, plus a coincident electromagnetic and gravity anomaly about a kilometre from the mill that became the 2013 priority target. The same filing carries the business acquisition report for Paragon Minerals, bought by plan of arrangement on 24 September 2012, which is how the Newfoundland projects came into the company.
12 Oct 2012regulatory community update▲ GoodMajor
Canadian Zinc completed its acquisition of Paragon Minerals on 24 September 2012, issuing 7,296,298 shares for the 53,649,254 Paragon shares it did not already own (0.136 Canadian Zinc share per Paragon share). Paragon holders end up with about 4.5% of the combined company. This brings in the South Tally Pond property in Newfoundland, including the Lemarchant deposit (indicated 1.24 Mt at 5.38% zinc; inferred 1.34 Mt), which is the start of the Newfoundland package in context. The filing also lists an 30 August 2012 press release on cooperation with the Northwest Territories government, with only its headline in the text provided.
5 July 2012regulatory community update▲ GoodMajor
Q1 2012 results (three months to 31 March 2012): net loss of $2.53 million, much smaller than $14.24 million a year earlier because the loss on marketable securities fell from $12.88 million to $1.51 million. The company raised $9.12 million by issuing 13,610,000 shares at $0.67 (this continues the February 2012 Zhongrun placement in context), lifting shares outstanding to 156,719,112 and short-term investments to $13.68 million. The filing is also tagged to a 15 May 2012 press release headlined as approving additional permits for Prairie Creek: a decline development permit, a road land use permit and a work plan on the Class 'A' water licence; only the headline is in the text provided.
16 Mar 2012material agreement● Neutral
A duplicate submission. Accession 0000910569-12-000006 carries exactly the same four documents as 0000910569-12-000005, filed the same day: the Zhongrun placement, the final 2011 Prairie Creek assays and the renewed Parks Canada memorandum. Nothing additional is disclosed.
