First Nickel posts bigger loss on 26-percent output drop

May 13, 2014 | 06:44 PM | Rey Mashayekhi

Tags  First Nickel, Lockerby Mine, Sudbury, earnings report, nickel, copper, Rey Mashayekhi

NEW YORK — First Nickel Inc. fell deeper into the red in the first quarter on a "significant" decrease in revenue due to a 26-percent drop in contained nickel pounds produced compared with a year earlier.

While the company’s Lockerby Mine near Sudbury, Ontario, produced 2.7 million pounds of contained nickel and 1.7 million pounds of contained copper in the three months ended March 31, First Nickel’s total contained-nickel production fell to 3.7 million pounds, reflecting "a 21-percent reduction in average nickel head grades mined....

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