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

QualityStocks would like to highlight Canadian Zinc Corporation (OTCBB: CZICF), a junior exploration company. The company’s main project is the Prairie Creek Silver, Lead & Zinc mine in the Mackenzie Mountains of the Northwest Territories, Canada. The company’s main goal is to bring the mine into production at the earliest possible date.

In the company’s news Friday,

Canadian Zinc Corp. posted its financial results for the three and six months ended June 30, 2010.

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.

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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.