Canadian Zinc Corp. (CZICF.OB) Posts Quarterly and Half-Year Results

For the six months ended June 30, 2010, Canadian Zinc reported net income of $2.578 million compared to a loss of $1.019 million for the first half of 2009.

For the second quarter ended June 30, 2010, the company reported a net loss of $4.661 million compared to a loss of $722,000 for the three months ended June 30, 2009.

As at June 30, 2010, the company had cash and cash equivalents of $6.997 million, short-term investments of $1.126 million and marketable securities of $20.284 million (for a total of $28.407 million).

Canadian Zinc had a positive working capital balance of $28.211 million. As of December 31, 2009, the company had cash and cash equivalents of $5.197 million, short-term investments of $2.246 million, marketable securities of $15.382 million and a positive working capital balance of $22.476 million.

The company said it will continue with its primary focus for the remainder of 2010, which is to move its Prairie Creek Mine toward production. The advancement includes moving forward in the environmental assessment process for the operating permits for the site.

For more information visit www.canadianzinc.com

Let us hear your thoughts below: