HomeMarket NewsMiningCaNickel's Bucko Lake Nickel Project Sold to Cobalt One for $59 Million:...

CaNickel’s Bucko Lake Nickel Project Sold to Cobalt One for $59 Million: A Tale of Financial Triumph

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The Bucko Lake nickel mine in the winter of 2009. Credit: CaNickel Mining

CaNickel Mining (TSXV: CML) has granted Cobalt One Energy an option to purchase CaNickel’s Bucko Lake nickel project for C$80 million ($59m). The mine is located about 110 km southwest of Thompson, Manitoba, near the town of Wabowden.

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Despite its productivity producing nickel, copper, and cobalt, CaNickel faced financial hardships that hindered project refinancing, remarked CEO Shirley Anthony. β€œWe are pleased to have signed an option agreement with Cobalt One, which is owned by Blackstone Minerals … headquartered in Perth, Australia.”

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