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Additional Information
Market: AIM
Sector: General Mining - Nickel and Cobalt
EPIC: RGM
Latest Price: 1.90p  (3.83% Ascending)
52-week High: 5.00p
52-week Low: 1.45p
Market Cap: 12.60M
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Regency Mines
www.regency-mines.com
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.
Full Regency Mines profile here
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Regency Mines expects year of strong progress

2nd Dec 2011, 8:31 am by Giles Gwinnett Pre-tax profit in the 12 month period rose to £1.82 million compared to £602,085 in 2010, thanks to a rise in the share of profits of its associate Red Rock Resources

Regency Mines (LON:RGM), which is exploring the Mambare Nickel JV in Papua New Guinea, told investors that its previous year had been one of "substantial improvement".

And it hopes strong progress will be made in the coming year, as it reported its final results to June 30 this year.

"We expect to look back in a year's time and describe this year as one that was transformative in the history of the company," said executive chairman Andrew Bell.

Pre-tax profit in the 12 month period rose to £1.82 million compared to £602,085 in 2010, thanks to a rise in the share of profits of its associate Red Rock Resources (LON:RRR).

The firm owns around 21 per cent of the AIM quoted gold exploration and production company.

EPS (earnings per share) rose impressively to 0.40 pence per share from 0.13 pence per share, the firm said. Meanwhile, shareholders' equity rose to £14.1 million from £3.9 mln.

The firm's Mambare lateritic Nickel-cobalt deposit has the potential scale the firm looks for, it said, but it had been little explored, the Nickel price has not been strong, and recent investor sentiment towards Nickel has been less positive than towards ferrous metals, coal or copper.

To that end, the firm took a A$6 million stake in its Mambare partners Direct Nickel and after a further subscription, Regency now owns a 7.81 per cent stake.

Turning to the future, Regency said that continuing development in the Asian and South American economies and the BRIC countries was likely to lead to steady annual increases in the demand for stainless steel, which uses Nickel in its manufacture.

"The long-term prospects for our key commodity remain strong," it said.

Chairman Bell said he expected to see drilling at Mambare lead to the definition of a JORC mineral resource  early in 2012.

He also expects to Direct Nickel's pilot processing plant operate successfully and demonstrate the firm's technology in the same timescale.

"These key developments, and the expected start of trading in Direct Nickel Ltd shares on the Australian Stock Exchange, will, we hope, underpin a year of expected strong progress," he said.

"Our aim is to build on the success of our associate Red Rock Resources in the iron ore field and the company's presence in Nickel and Nickel technology to build a strong and diversified mineral group."

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