CaNickel to slash Bucko Lake output
Dec 30, 2011 | 02:52 PM
| Chris Prentice
Tags
CaNickel Mining,
nickel,
Bucko Lake,
chris prentice
NEW YORK — CaNickel Mining Ltd. said it plans to reduce production at its Bucko Lake Mine in Manitoba in response to "unfavorable" nickel prices.
The Vancouver, British Columbia-based junior miner will scale back its ore production at Bucko Lake to between 400 and 500 tonnes per day from 600 to 700 tonnes currently, according to the company. CaNickel, which said it has no timeline for the period of reduced production, expects the move to reduce its monthly "cash burn" to about Canadian $1.7 million ($1.67....
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