Local News

A Mineral Development Company Had a Good Quarter.

 

Royal Nickel Corporation has reported its financial results and review of activities for the quarter ended June 30th.

             

President and CEO Mark Selby reports the quarter was another major step forward for Royal Nickel where they completed acquiring 100 percent control of the Beta Hunt Mine in Australia and completed the acquisition of VMS Ventures and its 30 percent interest in the Reed Mine in the Flin Flon Snow Lake Area.  He says Beta Hunt’s gold production in the quarter surpassed their prior guidance and the Reed Mine operated by Hudbay had a record quarter.  Selby adds with the strong operating results at Reed they expect the contribution and bridge loan balances owed to Hudbay to be zero in the third quarter of next year based on current metal prices.

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