First Nickel Announces Continued Progress at Lockerby in Q4-2011 and Provides Guidance for 2012
Thursday, 26 January 2012 09:34
First Nickel Inc. provided an update on its progress in Q4 2011 and announce its outlook with respect to 2012 production and costs.
Highlights
Shipped 21,717 tonnes of Lockerby ore to Xstrata in Q4
Unrestricted cash balance of $25.9 million as at December 31, 2011
Lockerby commercial production expected by mid-2012
Mr. Thomas Boehlert, President and CEO of First Nickel said “Our safety record and the successful execution of the Lockerby Depth Project are central to the strategy of the Company. We have recommenced production at Lockerby and expect the mine to be in full production later this year. In addition to Lockerby, we are continuing exploration activities at our other Ontario properties and seek to add to our base metal portfolio through acquisitions of promising exploration properties and operating mines.”
