Shares of International Zeolite Corp. (TSX-V:IZ)(OTCQB:IZCFF) are on the move Thursday morning following news that the company initiated its first commercial order of 400 tonnes of natural zeolite from Cuba.
A highly absorbent and versatile material, zeolite has countless uses, including water filtration, odor and humidity control, as a catalyst and in cleaners.
Vancouver-based International Zeolite is building its brand as a global supplier of the material, currently serving clients through supply chains stemming from the Bromley Creek deposit in British Columbia and U.S. suppliers.
In order to make things more cost effective, the company needed to keep broadening its supply chain, which it did by adding UEB Geominera Holguin after recently completing a due diligence process. Geominera derives its zeolite from deposits in the San Andres, known to be of some of the highest quality in the world.
With the supply chain addition, International Zeolite says it has capacity to deliver and supply zeolite markets globally.
Separately, the company also is the parent to Earth Innovation's, whose flagship product is ecoTraction, a volcanic mineral that's an alternative to road salt and chemical ice melters. The company showed off the product at the recent National Hardware Show and said the response has been excellent, including inking an agreement with a U.S. retailer for a sales pilot and marketing campaign earlier this month.
Traders are seeming to be happy with the developments, lifting shares of IZ off a 52-week low hit at 24.5 cents on May 9. Share are up 21.1% in morning action to three-week high at 34.5 cents as the noon hour approaches in Toronto.
About 138,000 shares have already traded, handily topping the 90-day average of 85,310 in volume, according to Yahoo Finance.
