PITTSBURGH The Toronto
Stock Exchange (TSX) has started a review of Pure Nickel Inc.
with respect to continued listing requirements, although the
mining company said it "anticipates that it can demonstrate
that it can meet the TSX criteria."
The Toronto-based company said
it currently "meets all criteria save for the market
capitalization requirement," adding that it "continues to be in
a strong financial and operational position." The company said
it currently has Canadian $1.6 million in cash and working
capital of C$2.6 million. "Drilling is scheduled to commence at
the MAN Alaska property in June. The programs budget of
$3.5 million is fully funded by Pure Nickels partner,
Itochu Corp. of Japan," the company said.
The TSX said Pure Nickel has been granted 120 days in which
to regain compliance with the listing requirements.