Thursday, 18 December 2008

Pure Nickel Wraps Up 2008

Pure Nickel
(TSX: NIC)(OTCBB: PNCKF)
Basic Shares: 67.8 million
Fully Diluted: 92.4


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Pure Nickel released an update today on its drilling programs from its multiple exploration ventures, which speaks to a "full steam ahead" attitude irrelevant of what's happened to junior mining stocks.


Progress was made on each of its targeted properties in 2008 through a combination of managing its key projects in combination with joint ventures on other projects. Pure Nickel is in a strong and unique position in comparison to the vast majority of resource companies because of its strong balance sheet, high impact properties and formidable Japanese partner.


The company commented on its depressed stock price and the current market climate for the junior exploration sector. While many juniors will be looking for capital to stay alive in 2009, Pure Nickel is cashed up and will continue exploration on multiple targets. The company not only had some success with the drill bit in 2008 but it must be mentioned again that the $40 million deal signed with ITOCHU allows it to heavily explore its most promising property, MAN Alaska. The company strongly believes that shareholder value will be proven in the mid to long term as there are many irons in the fire and this is no one trick pony.

To see full news release click here....