CaNickel to Reduce Mining Operations

- December 29th, 2011

CaNickel Mining Ltd. (TSX:CML) announced mining operations at its Bucko Lake Mine will be scaled down in order to reduce costs and save money.

CaNickel Mining Ltd. (TSX:CML) announced mining operations at its Bucko Lake Mine will be scaled down in order to reduce costs and save money.

As quoted in the press release:

The effect of the reduction in operations will be to reduce ore production from current 600 – 700 tonnes per day to 400 – 500 tonnes per day and this is expected to reduce the Company’s cash burn from $2.7 million per month to approximately $1.7 million per month and to be able to generate positive cash flow from the mine operations. The period of reduced operations is uncertain at this time.

Click here to read the CaNickel Mining Ltd. (TSX:CML) press release.  

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