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Ursa Major Minerals hits the highway

Ursa Major Minerals reports it has started shipping nickel ore from its restarted open pit to Sudbury for processing at Xstrata Nickel. Ore shipments began in mid-February after the company's contractors began mining at the beginning of the month.
Northern Ontario Business Staff

 
Ursa Major Minerals reports it has started shipping nickel ore from its restarted open pit to Sudbury for processing at Xstrata Nickel.

Ore shipments began in mid-February after the company's contractors began mining at the beginning of the month.

In a Feb. 24 statement, Ursa Major CEO Richard Sutcliffe was pleased with the quick start-up. "We are also very pleased to be in a position to benefit from the significant recent improvement in nickel and copper prices."

Plans are to move 200,000 tonnes by truck to Sudbury in 2010.

The company also announced a second private placement of financing consisting of the issuance of 6,800,000 common share purchase units at $0.10 per unit for gross proceeds of $680,000.