Junior miner gets conditional approval to list on TSX

11/21/2008 10:09:07 AM | Buzz on the Boards

883 Reads

Rate this

clarity
4

clarity : 4
Rate this:

overall quality
3 overall quality : 3
Average quality rating by the Stockhouse community.

credibility
4

credibility : 4
Rate this:

usefulness
4

usefulness : 4
Rate this:

Announcement comes during busy news week for Crowflight Minerals.

In a busy news week for Crowflight Minerals (TSX: V.CML, Stock Forum), the company announced Friday morning that it has received conditional approval to list its common shares on the Toronto Stock Exchange.

Crowflight says the listing is conditional on the company providing certain documents to the exchange. Shares of the company will continue to trade under the stock symbol CML.

"We feel that having Crowflight's shares graduate to the TSX is a natural progression for the Company at this point in time. As we begin production from our Bucko Lake Nickel Mine, it's an ideal time to increase our profile by being listed on the senior Canadian exchange," said Mike Hoffman, president and CEO of Crowflight,

On Thursday, the company provided an update on its Bucko Lake Nickel Mine in Manitoba, saying that commissioning activities continue at the mine. The company’s expectations are to ramp up production during the remainder of 2008 and to declare full commercial production during the first quarter of 2009. Crowflight notes that final commissioning of the mill is expected to be complete in the next few weeks.

The company also reported its third quarter results earlier this week.

Shares of Crowflight Minerals were unchanged Thursday at 9.5 cents.

On the Crowflight Bullboard on Thursday, bob1013 noted: “The way CML is positioned now (low debt, low cost production ramp up), are they not positioning themselves to be an attractive take-over target? If so, what would a reasonable offer be in this environment? Last year I would have said $2-3...but as it stands right now, a major could just sweep right in and buy up everything for $30MM[sic].”

Stockhouse Conflict and Disclosure Policy:

Stockgroup Media Inc., owners and operators of Stockhouse.com, has established the following rules to ensure that there is no appearance of impropriety on the part of any Stockhouse Editorial writers ("Writers"). The content of Stockhouse Editorial articles (the "Articles") are the opinion of the Writer and any reliance on the content of these articles is at your sole risk. Our Writers are not registered investment advisors. You should not make any kind of investment decision in relation to Articles or stocks discussed in them without obtaining advice from a registered investment advisor.

Facts relied upon by our Writers are generally provided by the subject companies or gathered by our Writers from other public and/or private sources. These facts may be in error and if so, the opinions of our Writers may be materially different.

Writers may own, buy, or sell shares in public companies mentioned in their Articles, but in the Article they must prominently state their ownership position. Thus, a conflict may exist. Writers are not permitted to write Articles that attempt to benefit persons connected to the Writer, such as family or friends, except where disclosure is made in the same way as if the Writer him/herself owns stock.

Writers cannot solicit, accept, or agree to receive anything of value given or paid with the intent of influencing their Articles.

Stockhouse notifies each Writer about these rules, and we rely on the integrity of our Writers to ensure that our rules are followed.