Canadian Zinc sells mining royalty

Jun 03, 2013 | 05:10 PM | Everdeen Mason

Tags  Canadian Zinc, zinc, silver, Prairie Creek Mine, Sandstorm Metals & Energy, Trevor Cunningham, Everdeen Mason

NEW YORK — Canadian Zinc Corp. has sold a 1.2-percent net smelter return royalty in its Prairie Creek Mine in Canada’s Northwest Territories to Sandstorm Metals & Energy Ltd. for $10 million after two years of recording financial losses.

"The intrinsic value that this royalty transaction attributes to the Prairie Creek project confirms our belief that the Prairie Creek Mine has robust economics and outstanding long-term potential," Trevor L. Cunningham, Canadian Zinc’s vice president of finance and chief financial officer, said in a statement.....





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