Canada Zinc Metals Corp (TSX.V : CZX) -- Price of Zinc - at more than 8 year high
Please find for your information, an excerpt from a Reuters article dated November 24, 2016
“Zinc at more than 8-year high on fund buying, fundamentals
By Pratima Desai
Zinc prices jumped to their highest in more than eight years on Thursday and copper headed towards its 2016 peak as funds piled in on expectations of stronger demand and tighter supplies.
Benchmark zinc on the London Metal Exchange ended up 2.1 percent at $2,725 a tonne, off an earlier $2,760, its highest since March 2008.
The metal used to galvanise steel has gained nearly 90 percent since a 6-1/2 year low of $1,444.50 in January on worries about shortages due to mine closures.
"There is a lot of Chinese money coming in and zinc has very strong fundamentals," said Citi analyst David Wilson. "We thought the zinc market would tighten through next year, the surge in speculative flows shows funds have jumped the gun on that idea."
According to a Reuters survey, the zinc market is expected to see a 400,000 tonne deficit this year...”
About Canada Zinc Metals Corp. (TSX.V : CZX ; Frankfurt: A0RAQJ )
Canada Zinc Metals is a mineral exploration company focused on unlocking the potential of a future long life mining district in British Columbia, Canada. The Company is the dominant land holder in the Kechika Trough, a world class mineral belt, which hosts in excess of 80 million tonnes of base metal resources.
Canada Zinc Metals owns a total of 79,780 hectares in 230 mineral claims which extend northwestward from the Akie property for a distance of 140 km.
The Company has outlined a NI 43-101 compliant mineral resource at its flagship Akie property, including an indicated resource of 19.6 million tonnes grading 8.2% zinc, 1.6% lead and 13.6 g/t silver (at a 5% zinc cut-off grade) and an inferred resource of 8.1 million tonnes grading 6.8% zinc, 1.2% lead and 11.2 g/t silver (at a 5% zinc cut-off grade). Using this estimate, the deposit contains 3.54 billion pounds of zinc, 685 million pounds of lead and 8.6 million ounces of silver in the indicated category, and 1.2 billion pounds of zinc, 207 million pounds of lead and 2.9 million ounces of silver in the inferred category (at 5% zinc cut-off). The deposit remains open along strike and at depth.
Tongling Nonferrous Metals Group, Jintuo (Canada) Investment Co. Ltd, Teck Resources and Korea Zinc are significant shareholders of the Company.
Teck Resources and Korea Zinc have also entered into an option agreement with Canada Zinc Metals in relation to 3 of the Company's Kechika Regional Properties.