· Solvency is expected to be consistent with similar acquisition agreements in the zinc market, generally based on a slippery scale relative to the variety and price that New Century proposed to offer for 1.5 million zinc concentrates during this period in December 2017. ScoZinc Mining Ltd. is an established Canadian zinc and lead company with 100% scozinc mine (ScoZinc Limited) and related facilities near Halifax, Nova Scotia. The project is currently being supervised and maintained. The company intends to resume operations as soon as possible. The company has a strong position of working capital and has no debt. The Company has 4,216,044 common shares in pending, which are traded on the TSX Venture Exchange under the symbol „SZM.“ The five decreases to date have led New Century to reduce its planned production by about 80%. Once the Woodlawn project is in good condition, it is expected to produce approximately 70,000 dmt (dry metric tons) of zinc concentrates, 30,000 dmt of concentrated copper and 25,000 dmt of lead per year from the processing of a combination of underground ore and recovered tail ore. In addition to primary metal revenues in each of the concentrates (zinc, copper and lead), by-products are generated by the gold and silver content in lead and copper concentrates. As part of the agreement, New Century Resources Concord will supply zinc concentrate produced in the company`s Century Mine Project and account for approximately 5% of total production at the site.
The acquisition agreement with the MRI also includes a $15 million ($US$19.5 million) debt facility that New Century intends to use for general working capital at the Century mine. „Over the past 12 months, we have implemented a very competitive process for the coveted concentrates of the Woodlawn project, and we are very pleased to have reached an agreement with LDC Metals, a large and experienced concentrate distributor with an excellent reputation in the market. After a feasibility study at the end of 2017, New Century found that a Century restart would create one of the world`s top 10 zinc plants, with a stable state production of 507,000t of zinc concentrate with 52% zinc concentrate (264,000p zinc) over an initial life of only 6.3 years from The Century Tailing Deposit Depositss. JMG insured the Sable zinc refinery in Zambia as part of its integrated kabwe project to hold the Kabwe surface tail material containing zinc, vanadium and lead to account. JMG is currently operating the refinery to commission, in addition to the existing copper cycle, a special zinc, vanadium and lead refining circuit.