Consolidated Zinc Limited

Published : September 27th, 2016

CZL Moves to 80% Ownership of the High Grade Plomosas Zinc Mine

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Cash | G Mexico | Georgia | Lead | Market | Mexico | Silver | Silver Mine | Zinc |

CZL Moves to 80% Ownership of the High Grade Plomosas Zinc Mine

27 September, 2016

CZL Moves to 80% Ownership of the High Grade Plomosas Zinc Mine

Consolidated Zinc Ltd ("CZL" or the "Company") is pleased to announce it has re-negotiated and exercised its option to acquire additional equity, at below the original anticipated cost and will move to 80% ownership of the high grade Plomosas zinc project.

CZL has purchased an additional 39% of the shares in Latin American Zinc S.A.P.I. de C.V, the Mexican company that owns 100% of the high grade Plomosas Zinc-Lead-Silver mine in northern Mexico from Retec Guaru S.A. de C.V ("Retec"), the Company's Mexican Partner. Under the terms of this re-negotiated Tranche 2 purchase CZL will pay Retec A$500,000 and US$800,000 both in cash (instead of A$750,000 in cash and A$1,700,000 in CZL shares).

In addition, the Company will pay A$700,000 (instead of A$800,000) to the original Vendors of the project Arena Exploration Pty Ltd ("Arena") and also issue them 10% of the Shares in Latin American Zinc S.A.P.I de

C.V under the terms of the original Share Sale Agreement executed in December 2014. The new ownership structure of Latin American Zinc S.A.P.I. de C.V will be as follows:

Consolidated Zinc 80% Retec Guaru S.A. de CV 10%

Arena Original Shareholders 10%

CZL's Managing Director, Mr Will Dix said the move to 80% gives the Company and the market added certainty over the future direction of the Project and more direct exposure to continued exploration results.

"As a Company we are excited to now hold 80% of this outstanding project and look forward to continuing to work with our partners Retec to move the project forward. We are on track to deliver our maiden JORC resource by the end of the year as we complete our initial drilling program over the next several months. We believe the recent results we have released to the market from our drilling below Level 7 have significantly de-risked the project and our decision to move to 80% ownership reflects our view that there is enormous value in the Plomosas Zinc Project."

Will Dix

Managing Director

+61 438 651 920

[email protected]

ABOUT CONSOLIDATED ZINC

Consolidated Zinc Limited (ASX:CZL) is a minerals exploration company listed on the Australian Securities Exchange. The Company's major focus is in Mexico where it recently acquired 51% of the exciting high grade Plomosas Zinc Lead Silver Project through its majority owned subsidiary, Minera Latin American Zinc CV SAPI. Historical mining at Plomosas between 1945 and 1974 extracted over 2 million tonnes of ore grading 22% Zn+Pb and over 80g/t Ag. Only small scale mining continued to the present day and the mineralised zones remain open at depth and along strike. The Company's main focus is to identify and explore new zones of mineralisation within and adjacent to the known mineralisation at Plomosas with a view to identifying new mineral resources that are exploitable.

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Georgia | Mexico | All
Gold and Silver Prices for these countries : Georgia | Mexico | All

Consolidated Zinc Limited

CODE : CZL.AX
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile

Consolidated Zinc LTD is based in Australia.

Consolidated Zinc LTD is listed in Australia. Its market capitalisation is AU$ 7.8 millions as of today (US$ 5.7 millions, € 5.3 millions).

Its stock quote reached its highest recent level on January 14, 2011 at AU$ 2.50, and its lowest recent point on June 30, 2020 at AU$ 0.00.

Consolidated Zinc LTD has 461 260 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financials of Consolidated Zinc Limited
10/31/2016Quarterly Activities Report
Project news of Consolidated Zinc Limited
11/16/2016Further high grades intersected at Plomosas
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
AUSTRALIA (CZL.AX)
0.017+0.00%
AUSTRALIA
AU$ 0.017
06/07 11:00 -
0%
Prev close Open
0.017 0.018
Low High
0.017 0.018
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.017 -%
Volume 1 month var.
848,881 -%
24hGold TrendPower© : -31
Produces
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20240.00%
2023-5.56%0.030.02
2022-35.71%0.050.02
2021-42.86%0.070.02
2020512.50%0.060.00
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.05+0.43%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 8.91-2.73%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59-3.26%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.06+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 12.67+0.88%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.34+6.25%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
 1.77-2.21%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.37-0.22%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.