GREY:FNKLF - Post by User
Post by
valiant2002on Aug 27, 2007 8:48pm
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Post# 13308274
IN CASE IF YOU HAVE NOT SEEN THIS
IN CASE IF YOU HAVE NOT SEEN THIS
First Nickel Inc. (FNI) one of the good nickel stock in the market. Just read the highlights below, which published on their web site on August 14, 2007.
You DO NOT want to miss this stock and slip away from your hands. It is still cheap to buy it.
Highlights
- Ore delivered to the mill of 35,250 tonnes in the second quarter highest in the Company's history. An increase of 63% over the first quarter.
- The mining rate at Lockerby Mine during Q2 2007 reached a steady rate of 400 tonnes per day, a 60% increase from the 250 tonnes per day in Q1 2007.
- Revenue of $17.0 million in Q2, 2007, up from $9.0 million in Q2 2006 and an increase of $6.5 million from the Q1 2007 revenues.
- Operating cash flow in Q2 2007 improved significantly to $6.5 million compared to $2.1 million in Q2 2006. For the six months ended June 30, 2007, operating cash flow was $10.3 million, compared to cash usage of $0.4 million in 2006
- Overall increase in cash balance of $9.2 million during Q2 2007.
- Completed private placement of 15,000,000 common shares of the Company at a price of $1.15 per common share, for net proceeds to the Company of $15.8 million.
- The 11% Series A Debentures totaling $14.5 million were redeemed on June 1st.
- The Company is debt free and has a working capital of $19.8 million.
- Feasibility Study on the Premiere Ridge Property was completed and submitted to Xstrata on July 1st.
- Discovery of massive and semi-massive sulphides intersected on the Morgan-Lumsden Property.