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Canadian Zinc Corp. (TSX:CZN,OTCQB:CZICF) announced its results for the third quarter of 2015, as well as the first nine months of the year.
Canadian Zinc Corp. (TSX:CZN,OTCQB:CZICF) announced its results for the third quarter of 2015, as well as the first nine months of the year.
The company recorded a net loss of $1,778,000 during Q3 and a net loss of $8,213,000 for the first nine months of the year. It spent $7 million on exploration and development activities at its Prairie Creek project during the initial three quarters of 2015.
As quoted in the press release:
At September 30, 2015, the Company had cash and cash equivalents of $2,327,000, short term investments of $23,000, and marketable securities of $300,000 and a positive working capital balance of $2,655,000. The Company also had restricted cash of $2,075,000, which increased from $525,000 at December 31, 2014, as security of $1,550,000 was posted with the Government of the Northwest Territories as financial assurance in respect of existing reclamation obligations following approval by the Mackenzie Valley Land and Water Board in August 2015.
Click here to read the full Canadian Zinc Corp. (TSX:CZN,OTCQB:CZICF) press release.