sell says stockresource

Vulcan Resources 14 Nov, 2007
Further Delays
VCN; Sell around 44 cents
Vulcan Resources has extended the timeframe for completing its feasibility study at the Kylylahti copper-cobalt project in Finland, calling into question the financial robustness of the project. Elsewhere in Finland the company is making steady progress on its earlier stage nickel exploration projects.

“Vulcan has failed to complete its feasibility assessment of the Kylylahti copper-cobalt project on schedule. We are electing to reduce exposure until the investment risks of the project are better quantified.�

Vulcan Resources has disappointed the market with an announcement that it has extended the time frame for completing its definitive feasibility study for the Kylylahti copper-cobalt project in Finland. This once again defers the potential commencement of development of the operation, as well as creating uncertainty over the financial returns for the project.