Black Bull Resources Report Net Losses in 2011

The future of a Nova Scotia company is unclear following another year of poor market conditions. Black Bull Resources is reporting net losses  exceeding $380,000 for the year ending September 30th. The company owns the White Rock Mine near Shelburne and officials say the company will be placed into hibernation mode until further notice. CEO Joseph MacDonald says the company's focus is to reserve cash by reducing overall expenses. A handful of part-time employees remain at the mine for routine care and maintenance. The White Rock Mine produces a unique, bright white high purity quartz marketed under Scotia White.