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Poseidon suspends operations
2-October-08
Written by Rebecca Lawson
The global financial turmoil has hit the Andrew Forrest-chaired Poseidon Nickel Ltd, with the company suspending mining activities at its Mt Windarra underground mine in the Goldfields.
The company said it believed the suspension is the "most sensible" course of action and will ensure the optimum use of its cash reserve with development studies to continue at the project.
The historic mine, which sparked the Poseidon bubble of the early 1970s, was undergoing refurbishment with some 700 metres of the underground tunnel already rehabilitated.
Article continues...
2-October-08
Written by Rebecca Lawson
The global financial turmoil has hit the Andrew Forrest-chaired Poseidon Nickel Ltd, with the company suspending mining activities at its Mt Windarra underground mine in the Goldfields.
The company said it believed the suspension is the "most sensible" course of action and will ensure the optimum use of its cash reserve with development studies to continue at the project.
The historic mine, which sparked the Poseidon bubble of the early 1970s, was undergoing refurbishment with some 700 metres of the underground tunnel already rehabilitated.
Article continues...
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