MIrabela Nickel Increases Loss in 2011 to A$50 Million

Mineweb reported Mirabela Nickel (TSX:MNB,ASX:MBN) said it lost A$50.7 million in 2011, more than it lost in 2010.

As quoted in the market news:

The miner said that the loss for the full year was driven by the cost of sales, which reached A$272.29-million during the year. The direct costs were driven by expenditure on mining, processing and plant, as well as administration fees. This was offset by positive stockpile movements.

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