Crowflight Minerals said that it had received permission from the Mine Safety Branch of the Manitoba Government to resume its operations at the Bucko Lake Nickel Mine on April 22, 2011.
Kevin Zhu, Interim CEO and Director of the Company said that they were glad to see the re-start of Bucko Lake Mine operation after six-month's suspension. The mine is located near Wabowden.
The shares of Crowflight Minerals gained 6.25 cents in heavy trading on Monday after the announcement. The Vancouver based company had closed the mine last October as it planned to install improved mining equipment. This included improved underground mining equipment and water treatment facilities. They also wished to revamp the workforce to rely less on contract employees.
The Chief Executive Officer said on behalf of the board that they appreciated the patience and continued support of the shareholders, employees and suppliers as they have been working diligently to bring the Bucko Lake Mine back into production. He added that with the new mining equipment and mining crews in place, they believed that they could achieve full production at Bucko Lake Mine in three month's time.
In the month of March the junior mining company had said that it was targeting a production level of 220,000 tonnes of ore this year and about 5 million pounds of payable nickel. If successful the mine will generate $20 million cash based in the nickel price of $12 a pound this year.