Black Bull sells White Rock quartz, kaolin and mica assets

Jan. 6, 2011 - Black Bull Resources Inc. said Wednesday it has completed the sale of all remaining inventory and redundant assets at its White Rock Mine near Shelburne.
"This gives the company the available cash resources to seek long-term strategic options for its resource," Joseph MacDonald, president and chief executive officer, said in a news release.
MacDonald said the company also plans to reduce the amount of cash it is spending each month.
The White Rock site contains quartz deposits and an identified resource of kaolin and mica.
Last year, the company reported it was struggling to find customers for its quartz. Company officials were unavailable for comment Wednesday.
Quartz from White Rock can be used in the manufacture of high-end countertops, for swimming pool plaster and golf course sand.
The company had four employees at last report and was seeking new markets.
"To say we're optimistic would be a mistake," Martin MacKinnon, the company's chief financial officer, said in an interview about a year ago.