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.
Although the Bucko Lake mine was in production, with outputs of nickel, copper, and cobalt, CaNickel ran into financial difficulties and was unable to refinance the project, said CEO Shirley Anthony. “We are pleased to have signed an option agreement with Cobalt One, which is owned by Blackstone Minerals … headquartered in Perth, Australia.”
