NorZinc Reports $1.7 Million Loss For Q1

NorZinc Ltd. (TSX: NZC) announced yesterday evening its Q1 2021 financial results. The results included a posting of $1.7 million in net loss for the quarter.

The loss for the three months ended March 31, 2021 is a 43% decrease from the $3.0 million net loss of the comparable period last year. The company ended the quarter with $2.7 million in cash and cash equivalents, a decline compared to the previous quarter’s $5.3 million.

NorZinc relayed that its development focus for the next 12 months will center on obtaining significant financing, continuing silver-focused exploration, constructing the first phase of its all season road project, and finalizing agreements with respective indigenous communities. Potential funding sources include a silver streaming agreement for the Prairie Creek mine

NorZinc Ltd. last traded at $0.075 on the TSX.

Information for this briefing was found via Sedar and NorZinc Ltd. The author has no securities or affiliations related to these organizations. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply