TORONTO - Victory Nickel Inc. (TSX:NI) said Friday it lost $430,000 in its most recent quarter compared with a loss of $1.1 million a year ago.
The development stage company reported no revenue. At March 31, the company had working capital of $8.4 million. Victory Nickel's assets include the Minago and Mel nickel projects in Manitoba and the Lac Rocher deposit in Quebec.
"We expect to exit the current quarter with more clarity on the timing of production at both Lac Rocher and Minago, and to be in a position to begin aggressively moving Mel toward a production decision," chief executive Rene Galipeau said in a statement.
Shares in the company closed up 4.5 cents at 52 cents on the Toronto Stock Exchange on Friday.
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