Canadian Zinc sells mining royalty
Jun 03, 2013 | 05:10 PM
| Everdeen Mason
NEW YORK Canadian Zinc Corp. has sold a 1.2-percent net smelter return royalty in its Prairie Creek Mine in Canadas 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 Zincs vice president of finance and chief financial officer, said in a statement.....
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