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].”
