CZN Update
The company announced the following in italics with respect to our long awaited permit:
Canadian Zinc Corp. has received notification that Bernard Valcourt, Minister of Aboriginal Affairs and Northern Development, has approved and signed the Type A water license for the company's Prairie Creek mine in the Northwest Territories, Canada.
The Type A water license, MV2008L2-002, was issued by the Mackenzie Valley Land and Water Board (MVLWB) on July 8, 2013, and, with this approval by the minister, will permit Canadian Zinc to conduct mining, milling and processing activities at the Prairie Creek mine site, use local water, dewater the underground mine, and dispose of waste from mining and milling.
The Type A water license, valid for a period of seven years, is the final permit needed for the construction, development and operation of the Prairie Creek mine.
Alan B. Taylor, chief operating officer of Canadian Zinc, stated: "Approval of the water license is a major milestone in the development of the Prairie Creek project and represents the culmination of a five-year environmental assessment and regulatory process. We would like to recognize the collaboration and co-operation of the review board, the water board, Parks Canada and other regulators throughout this process, as well thank the government of the Northwest Territories, Nahanni Butte Dene Band and Liidlii Kue First Nation and the Dehcho First Nations, for their support of the Prairie Creek project."
Despite the great news, the market yawned and pushed our share price up a pathetic four cents. Ouch!
Many anticipated, myself included that CZN would quickly revalue to a much higher level even in a terrible market. So far that is not the case, but I expect our share price will begin a trek to higher ground as more and more players in the industry begin to understand the dynamics of what the Prairie Creek mine represents. Higher silver prices and a recovering market will also be big catalysts to drive our share price to respectable levels.
When you look at the ten year chart for Canadian Zinc, there are three times when the share price has exceeded $1.50 a share. These were times when the market was robust, and the permit decision was nowhere in sight.

Yes, our overall junior mining market continues to be in a terrible space. A 35 year veteran stock broker in our industry from Toronto told me last week that for every 10 tickets he is currently writing, nine are sell orders and one is a buy order. This pretty much sums up the desperate state of affairs we are experiencing. Good news, even really great news is having little or no effect on our share prices. This is a bummer no doubt.
In normal times (a decent market), an announcement of this sort with regards to a permit would have a huge upward impact on the share price. But it looks like we will have to watch our shares appreciate over the coming weeks and months as Four Key Situations develop:

1. Our overall junior mining market recovers
2. Silver prices rebound to the upside crossing the $30 an ounce level or higher
3. Interest from the majors comes into our story – very likely in my opinion
4. The company begins to lay out plans for the next steps – financing of the mine, time- table towards production etc.

Canadian Zinc will have a major board meeting in October which will generate a press release with significant news detailing the plans on moving forward. I have been on record saying that the company will never produce an ounce or pound of anything because the Prairie Creek mine will be taken out by a bigger entity at some point throughout the process of going into production. I still believe this will be the case.
There were many doubters that a final permit could ever be received by CZN for the Prairie Creek mine, but they have been proven wrong. It's a shame for now that those who did believe have not yet been fully rewarded for their faith in the company and their flagship project.
I liken this situation to the World War II movie where some military explosive specialists were tasked with blowing up an enemy dam. After patiently and secretly struggling to set the explosives in place at great risk to themselves, the big moment came to detonate the dam. But as the explosives went off, nothing happened to the dismay of those on the team who were used to seeing quick results with their demolitions. The group's leader who was an engineer however just lit his pipe with satisfaction and smiled saying mother nature would take its course. Just wait and see, he said.
After some time, a small trickle of water could be seen on the dam wall that eventually exploded into a torrent of water that completely demolished the dam in its entirety. The team watched in amazement as the spectacle unfolded before them.
All I can say to CZN investors right now is, JUST WAIT AND SEE! The dam is going to burst and our share price will revalue at much higher levels.
For now congratulations to all involved to make this permit a reality, especially the dedicated people on the CZN management team who kept moving forward despite the naysayers and odds against them. This is a great story. We just need the higher share price to validate its successful completion.
Canadian Zinc is a BUY at current levels.