Business
Pacific Coast Nickel Reports Third Quarter Results and Changes to the Board of Directors
Pacific Coast Nickel Reports Third Quarter Results and Changes to the Board of Directors
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\nPacific Coast Nickel Reports Third Quarter Results and Changes to the Board of Directors\n\n\n Jun. 30, 2009 (Filing Services Canada) -- Pacific Coast Nickel Corp. (NKL - TSX Venture), announces its third quarter results for the three months ended April 30, 2009. The Company recorded a net loss for the three and nine month period of $62,264 (EPS $0.00) and $199,445 (EPS $0.00) respectively. The Company expenses General and administrative expenses and capitalizes the cost of exploring and developing its mineral properties and therefore expects to record net losses for the foreseeable future as the company develops its mineral properties.As at April 30, 2009, the Company had cash and cash equivalents of $1.1 Million as compared to $2.2 Million as at July 31, 2008. During the three and nine month period the Company capitalized $30,658 and $426,040 respectively on its Burwash property, and $55,741 and $355,544 respectively on its Uruguayan properties. Jim Walchuck, CEO stated \"We continue to assess the merits of the Burwash and Uruguayan properties and will conduct a more in-depth investigation if warranted\" Mr. Walchuck also noted \"Other precious metal properties are also being investigated and will be pursued if myself and board consider it in the best interest of the Companies shareholders\" The Company has also accepted the resignation of Damien Reynolds from the Board of Directors. The company thanks Mr. Reynolds for his contributions and wishes him well in his future endeavors. At this point in time the Company is not actively in search of a new board member to replace Mr. Reynolds. For further information please visit the Company's website www.pacificcoastnickel.com. Further information is also available at www.sedar.com Jim WalchuckChief Executive Officer,Pacific Coast Nickel Corp.The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.Pacific Coast Nickel Corp. 380 - 580 Hornby Street Vancouver, BC V6C 3B6 p. 604.688.8913 www.pacificcoastnickel.com Source: Pacific Coast...