Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Junior zinc producer Canadian Zinc (TSE:CZN) reported a $5.3 million loss in the third quarter, which it attributed to higher exploration expenses and losses in the value of its shares in a Fijian mine.
Canadian Zinc reported $8.4 million net income during the same period last year.
The company owns 14% of Vatukoula Gold Mines, an AIM-listed British firm, which owns and operates the Vatukoula gold mine in Fiji.
Canadian Zinc’s main property is the Prairie Creek silver, lead and zinc mine located in the Northwest Territories.
Image of airtrack drill in quarry, Prairie Creek minesite, by Canadian Zinc Corp.
