Regency Mines

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Regency Mines plc (AIM: RGM; Frankfurt: RM4) is listed on the Alternative Investment Market of the London Stock Exchange Ltd in London and on the Frankfurt Exchange. It is also traded on the PLUS Markets platform. The Company’s principal asset is the joint venture with Direct Nickel Ltd (DNi) in the Mambare nickel-cobalt project in Papua New Guinea. Regency is also a significant shareholder in DNi which owns a laterite nickel treatment technology at pilot plant stage.

Regency adds value to its assets by systematic exploration and development of these assets, and by joint venture, acquisition, and disposal of mineral resource interests.

The company’s principal interests are:
The Mambare lateritic nickel/cobalt deposit in Papua New Guinea.
The Munglinup / Ravensthorpe project in Western Australia with a sulphide discovery made by aircore drilling in 2010.
Licenses at Kambalda, Western Australia of significant gold/nickel potential.
The Bundarra mining camp in Queensland, a granodiorite pluton with a history of gold and copper production.
Approximately 20.96% of AIM-listed Red Rock Resources plc, a gold exploration and production company founded by Regency with strategic stakes in steel feeds and in uranium/rare earths.
11% of Oracle Coalfields Plc, which operates in the Sindh Province, Pakistan.

Website:
http://www.regency-mines.com/
Phone:
+44 (0)20 7402 4580
Address:
115 Eastbourne Mews, London W2 6LQ.
Super Sector:
General Mining - Nickel and Cobalt
Sector:
Mining
Industry:
General Mining
EPIC / Symbols:
LON:RGM

Sector: Mining

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Current Statement

 

The Company has focussed on base metal and raw material opportunities in Australia and Asia. Our primary concentration has been on nickel, with interests in an established deposit of lateritic nickel in Papua New Guinea and in sulphidenickel exploration in Western Australia. Exploration potential also exists for gold and copper in Australia. Through investments the Company indirectly holds Australian iron ore interests, Asian coal interests and through a strategicpartnership Regency is involved in nickel treatment technology.

 

Scale potential

The Company looks for investments and projects with potential for significant magnitude. Mambare, the Direct Nickel treatment technology, and the investment in Oracle Coalfields plc all have the potential to develop into sizeable projects on a global scale.

 

Current Operations

 

Nickel laterite/geothermal – Papua New Guinea

Mambare

 

Known and explored since 1960s with limited shallow auger drilling; the first drill programme carried out on the deposit was by the Company in 2008.

 

Licence area of 245 sq km

- Pre-2011 work by Company includes pits, 4,000m drill

programme and ground penetrating radar

- 2011 ground penetrating radar and 4,000m drill programme designed to test new areas of plateau and to establish JORC Mineral Resource

- Applications in process for two large nearby areas of geothermal potential

 

Base metals and gold – Australia

Munglinup/Ravensthorpe, Kambalda, Halls Creek

 

VTEM surveys flown over key project areas to assist target generation. Follow up drill programmes under preparation.

 

Prospects include:

- Pyramid sulphides (NiS)

- Munglinup graphite (NiS, graphite, magnesite)

- Kambalda (Au)

- Halls Creek (Cu)

 

Copper and gold – Australia

Bundarra

 

The Bundarra project covers 260 sq km surrounding a granodiorite pluton in the Bowen Basin of central Queensland and was a former mining camp that produced copper commercially in the late 19th and early 20th century and has been worked for gold.

 

- VTEM flown over whole area in 2011 to identify conductors and enable structural interpretation – focus on two main areas of historic mining

- Initial targets identified in preliminary interpretation

- Full VTEM interpretation and drill plan pending

 

Coal – Pakistan

Thar Coal Project

 

Regency owns 11.02% of Oracle Coalfields plc (AIM:ORCP), the owner and developer of the Thar coal project in Sindh province east of Karachi. Oracle is completing a feasibility study on its 1.4 billion metric ton JORC Mineral Resource.

 

- Release of results of bankable feasibility study expected imminently

- Application submitted for mining lease in 2011

- Initial production targeted for 2013

- Memorandums of understanding with Lucky Cement and Karachi Electric Supply Company for production offtake

 

Managment

Andrew Bell, MA, LLB, FGS, Chairman and CEO

Andrew Bell began his career as a natural resources analyst at Morgan Grenfell & Co. in the 1970s. His business experience encompasses periods in fund management and advisory work at leading financial institutions, international corporate finance work and private equity. Andrew Bell’s listed company directorships are Red Rock Resources Plc (chairman), Greatland Gold Plc (chairman), Jupiter Mines Ltd (director), Resource Star Ltd (chairman) and Cue Resources Inc.

 

Edmund Bugnosen, BSc, Executive Director

Edmund Bugnosen has a BSc in Mining Engineering from Adamson University, Philippines and studied Environmental Science at the International Institute of Hydraulics and Environmental Engineering (IHE) in Holland. He has worked in both the government and private sectors of the Philippine mining industry. Since 1989 he has worked out of the UK as a consultant for governments, mining companies, NGOs and development agencies, including the UN, UNIDO, the World Bank, the EU, ILO, DFID, and the BGS. Edmund Bugnosen has also served as Senior Mining Engineer in the Department of Mines and Petroleum of Papua New Guinea and as a Technical Assistant to the Namibian Ministry of Mines and Energy. He has published and presented papers on mining laws and regulation, small-scale mining and related environmental, social and development issues.

 

Scott Kaintz, BS, MBA, Executive Director 

Scott Kaintz has a MBA from London Business School and Columbia Business Schools. He started his career as a US Air Force Intelligence Officer and analyst working across Europe, the Middle East and Central Asia. Scott Kaintz has held operational and managerial roles in the defence industry and more recently worked in corporate finance and investment funds, focusing primarily on capital raising efforts and debt and equity investments in small-cap companies. A year ago he joined Regency as Head of Corporate Finance.

 

Julian Lee, MA, ACCA, Non-executive Director 

Julian qualified as an accountant with Deloitte & Touche in 1996. Subsequently he worked in corporate finance and venture capital in London and New York. He has co-founded a number of companies in the mining exploration, healthcare, life sciences, med-tech and FMCG sectors and is currently CEO of Rex Exploration Ltd, an exploration company focussed on gold and coal exploration in Nigeria.

 

John Watkins, FCA, Non-executive Director  

John Watkins is a chartered accountant and a former partner of Ernst & Young and Neville Russell. He is a director of Starvest plc, a substantial shareholder of Regency Mines plc. In addition, he is a director of Red Rock Resources plc and Greatland Gold plc. Starvest plc, Red Rock Resources plc and Greatland Gold plc are listed on AIM. He is chairman of Equity Resources plc and Rare Earths and Metals plc.

 

Corporate Information

Nomad: Religare Capital Markets Ltd
 
Solicitor:
Ronaldsons Solicitors
 
Broker: Simple Investments
 
Transfer Agent:
Share Registrars Limited

Contact Information

Registered Office:
3/F, 55 Gower Street
London
WC1E 6HQ

Business Address:

115 Eastbourne Mews
London W2 6LQ

Telephone:     +44 20 7402 4580
Fax:     +44 20 7402 8738
Email:     exploration@regency-mines.com

Major Shareholders

TD Waterhouse Nominees (Europe) Ltd 16.67%

Barclayshare Nominees Ltd 10.30%

Hargreaves Lansdown (Nominees) Ltd 7.02%

HSDL Nominees Ltd 5.79%

Starvest Plc 5.36%

Rock (Nominees) Ltd 5.12%

L R Nominees Ltd 4.80%

Lewis Charles Nominees Ltd 3.72%

James Capel (Nominees) Ltd 3.72%

Investor Nominees Ltd 3.63%

 

 

Updated 2nd December 2011

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