• Zinc prices have climbed ~8% over the past week to over $4,420/t, excluding the panic-induced spike to nearly $4,900/t on March 8, this represents the highest level in 16 years. Fears of impending supply shortages and potential further smelter curtailments in Europe have pushed Northern European premiums to record levels, while the negative import arbitrage into China widened further to $645.55/t last Tuesday, according to Fastmarkets. Muted Chinese domestic demand has helped to stoke the rise in spot TCs since the start of the year, and we are now anticipating the annual zinc benchmark treatment charge to be settled at $230-240/t, with potentially some escalators and de-escalators, given the low visible inventory level in the market and wider economic backdrop may lead to some price volatility as the year progresses.
SKRR EXPLORATION INC. - IN 2021 ENTERED INTO ACQUISITION AGREEMENT TO ACQUIRE THE WATTS LAKE ZINC CLAIMS IN SASKATCHEWAN
SKRR Exploration Inc. entered into a non-arm's length acquisition agreement dated Nov. 4, 2021, to acquire a 100-per-cent interest in Edge Geological Consulting Inc.'s Watts Lake zinc property consisting of 24 mineral claims compromising a total of 13,708.109 hectares. The property covers multiple, parallel basement conductive corridors, including the approximately 14-kilometre-long Borys Lake corridor, which hosts the historic Borys Lake lead-zinc deposit as well as numerous other mineralized occurrences. Watts Lake is located approximately 65 km north-northeast of the town of La Ronge, Sask., and 20km northwest of the community of Missinipe, Sask. The well-maintained gravel Provincial Highway 102 runs north from La Ronge, through Missinipe to Reindeer Lake and its closest point is approximately 12.5 km east of the property. Sherman Dahl, chief executive officer of SKRR, states: "Why Zinc? Like copper, zinc has a range of applications across many industries, including agriculture, construction, pharmaceuticals, and transportation. Approximately half of the world's supply is used in corrosion-proof galvanized steel, which is widely used in infrastructure projects. Zinc sheeting is used for cladding, roofing, and gutter systems. Zinc-coated steel is widely used for building framing and bridge construction, and in reinforcing bar in concrete structures. Because of its anti-corrosive properties, zinc can make a crucial contribution to infrastructure projects -- and in recent years, there has been a steady demand for galvanized steel from China. In addition, with the chemistries that zinc brings into play ... this is a perfect fit for zinc batteries and one that we see significant growth in going forward. The electric vehicle demand is fuelling demand for all metals including zinc and nickel. Watts Lake fits in with our Father Lake nickel project and our well-advanced gold properties in the Trans Hudson corridor -- the home of giants SSR Mining and Hudbay Minerals. "SKRR is on a mission to build a world-class base metal and precious metal company based on the outstanding mineralization in Saskatchewan. SKRR will be a leader with a diversified portfolio of high-quality, long-life assets. The SKRR team has done an incredible job over the last few years of drilling, exploring, discovering and positioning the company for success. " MORE DETAILS BELOW: https://www.stockwatch.com/News/Item/Z-C!SKRR-3163073/C/SKRR IWA is a shareholder of SKRR Exploration
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