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Additional Information
Market: AIM
Sector: General Mining - Nickel and Cobalt
EPIC: RGM
Latest Price: 2.05p  (-6.82% Descending)
52-week High: 5.00p
52-week Low: 1.45p
Market Cap: 13.51M
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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 completes 1st stage of exploring Botue-Mambare project, results highly encouraging

8th Sep 2009, 8:44 am Regency Mines completes 1st stage of exploring Botue-Mambare project, results highly encouraging

Regency Mines PLC (AIM: RGM) said it has now received all results from cores drilled on the Mambare plateau of its Botue-Mambare lateritic-nickel-cobalt project in Papua New Guinea, and it regards the results as highly encouraging and as justifying an acceleration in the pace of exploration of the property.

Investors liked the news and were further encouraged by higher nickel prices and a more positive sentiment in general towards commodities today; shares in the mining group shot up nearly 44 percent in early deals.

 

These results suggest that there are 2 ore bodies, one on each side of the Arumu river, north of Port Moresby;  however, detailed resource modeling and 3D imaging is required in order to determine the dimensions of the ore bodies and is currently underway, the company said.

The first phase of exploration at Mambare, consisting of testing the more accessible slopes on the south west edge of the plateau, is now complete. This drilling programme, completed at the end of last year, produced 4,000 metres of drilled core. More drilling is anticipated over the wider area of the main plateau targeting the shallower gradients, as well as infill drilling, which will allow the extent of the high grade zones to be further constrained.

Future drilling activities will need to persist to greater average depth than encountered during this drill programme, Regency Mines added.

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