Development company ScoZinc has announced the prefeasibility study results for its Scotia project, which indicate that the past-producing zinc and lead mine near Halifax could achieve commercial production in 12 months or less from securing project finance.
The TSX-V-listed company will now be actively pursuing finance to bring the mine into commercial production, CEO Mark Haywood said on Tuesday, noting that it would require about C$30-million.
“The project’s economics are very robust, with relatively low capital requirements and a short payback period which includes proposed financing costs structured to be greatly nondilutive to our shareholders,” he said in a statement.