Rathdowney Resources (CVE:RTH) said on Monday that with its Project Olza in Poland the zinc miner is well-placed to mitigate the looming squeeze on zinc supply, as it reported fiscal 2015 results.
"With Project Olza, Rathdowney is among a short list of junior exploration companies that are well placed in terms of location and stage in the development pipeline to help mitigate this looming squeeze in the zinc supply," the company said.
Although forecasters had predicted that declining zinc production would boost prices further in 2015 and 2016, prices were variable to improving in the first half of 2015, then decreased in the latter part of the year. Prices have been variable to improving so far in 2016. Recent closing price is USD0.84/lb, the company added.
For the year to December 31, 2015, Rathdowney recorded a loss for the year of C$7.4mln, which is up from C$5.9mln in 2014 but lower than C$8.8mln in 2013.
The increase in 2015 was mainly due to an impairment in the company's holdings of marketable securities, and an increase in drilling and shareholder communications activities, the firm said.
The basic and diluted loss per share was maintained at C$0.06 as in 2014.