McCoach Review of CZN permittingHere is Greg McCoach's information that he sent out to his readers. I have edited it to the pertinent info. Please remember to do your own due diligence and seek advice if you need it. I agree with the review that the fundamentals for this company look good.
-J.
Canadian Zinc Progress
If and when the water permit is received, I expect that the next major news would be information regarding how the mine will be financed. I don't see this as a problem as many mining entities and the Chinese will be highly attracted to this resource.
The Mackenzie Valley Land and Water Board has completed its regulatory process for the issue to Canadian Zinc Corp. of a Type A water license for the company's wholly owned Prairie Creek mine in the Northwest Territories, and has forwarded the license to the Minister of Aboriginal Affairs and Northern Development Canada with the recommendation that the minister approve and sign the license.
"This Type A water license is the key regulatory permit needed for the construction, development and operation of the Prairie Creek mine," stated Alan B. Taylor, chief operating officer and vice-president of exploration for Canadian Zinc.
"The successful completion of the regulatory process is the culmination of many years of effort by the Canadian Zinc team, the Mackenzie Valley Land and Water Board, the various government agencies and all the stakeholders in the region. The positive recommendation of the water board demonstrates that a broad consensus has been achieved through the process and we look forward to receiving the approval of the minister and the issue of the water license in due course," added Mr. Taylor.
Upon receipt of ministerial approval, the new Type A water license MV2008L2-0002 will permit Canadian Zinc to conduct mining, milling and processing activities at the Prairie Creek mine site, use local water, dewater the underground mine, and dispose of waste from mining and milling.
The decision is now in the hands of the Federal Government in Ottawa. It is controlled by the Minister of Aboriginal Affairs and Northern Development. The Minister's name of this Ministry is Bernard Valcourt and he is the ultimate decision maker for our final permit.
This party wants to responsibly move mining and industrial growth forward in the Northwest Territories for the benefit of First Nations and northern residents of Canada. Personally, I believe this is a huge WIN/WIN for everyone involved.
While there is not an exact time table for the issuance of the Class A Water License, 30 to 60 days is given as a general frame of reference, though a decision could come at any point.
What is interesting is that on August 23 thru 27 next month, there is an Energy & Mines Minister Conference being held in Yellow Knife, Northwest Territories. This conference is held every year at a different location and this event has not been held at Yellow Knife since 1996.
In attendance at this event, which is highly political, will be various resource based companies including Canadian Zinc, key management of CZN, and important dignitaries. You can view the details of this conference at the following website:
https://www.emmc2013nwt.ca/
From a political standpoint, what a place this would be to make an announcement for issuance of a Class A Water License for the Northwest Territories benefiting First Nations and northern residents of the area. I am just guessing, but I am looking at this time frame as a possibility for receipt of final permit.
CZN is a BUY in this wretched market of ours in hopes we can have something go our way for a change within the portfolio.