Ursa Major Minerals Slows Work at Shakespeare Mine in Ontario; Blames Low Base-Metal Prices
Ursa Major Minerals Inc (UMJ.TO) was down 2 cents at 5.5 cents a share ahead of the company saying it is limiting its operations at its Shakespeare Mine to crushing broken ore, ore sampling and trucking due to slumping in base-metal prices.
It plans to ship about 8,000 tons of ore during December from the Shakespeare facility near Sudbury, Ont., which produces nickel, copper, platinum and palladium. A review is scheduled next month to determine if prices warrant resumption of full production.
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