June 14, 2011 / 9:51 PM / 7 years ago

UPDATE 1-Crowflight posts Q1 loss; to review nickel mine ops

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June 14 (Reuters) - Crowflight Minerals posted a first-quarter loss and said it plans to review operations at its flagship Bucko Lake nickel mine, as power outages and mining equipment delays have impaired performance at the Manitoba-based project.

For the first quarter, the Canadian miner lost C$6 million, or 1 Canadian cent a share, as operations had been suspended at the mine since October, and only resumed in April this year.

Operations at the mine were temporarily suspended in October last year to enable the instruction of its own underground mining equipment and team, and to address certain operational issues.

In April, the company said the mine, once in full production, would produce 1,000 tonnes per day, yielding 11.1 million pounds of payable nickel per year on average, on its website.

“Currently, the power outage issues have been resolved and major mining equipment has been delivered,” Crowflight said in a statement.

Shares of the Vancouver, British Columbia-based company closed at 7 Canadian cents on Tuesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Gopakumar Warrier)

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