Proactiveinvestors recommends
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
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
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
Is RGM a Buy, Sell or Hold?Get your FREE analysis of RGM
Pdf

Regency Mines and Direct Nickel sign JV agreement over Mambare deposit

6th Nov 2009, 11:10 am Regency Mines and Direct Nickel sign JV agreement over Mambare deposit

Copper and nickel explorer Regency Mines (AIM: RGM) has launched a joint venture (JV) with Sydney based Direct Nickel (DNi) to pilot and apply DNi’s advanced nickel/cobalt leaching technology at Regency’s Mambare lateritic nickel deposit in Papua New Guinea.


As part of the deal, Regency will sell its entire subsidiary Canopus No 83 Limited as well as any other interests it may hold in the vicinity of the Mambare deposit to DNi’s subsidiary JVCo for redeemable shares which it will convert into a 50% interest in JVCo. The objective of the JV is to list JVCo on a stock market to fund ongoing resource delineation at Mambare and the piloting of the DNi process.


If this is not achieved, each company will be entitled to the right to terminate the agreement with Regal’s redeemable shares being convertible into a 100% interest in Canopus No 83.


JVCo will hold a license for production of up to 60,000 tpa (tones per annum) of nickel in concentrate using the DNi technology and the right to a second license for an approved second project of up to 30,000 tpa of nickel concentrate.


The two companies signed a memorandum of understanding in August over the development of Mambare. DNi has since worked jointly with Regency to assess new drill data and formulate exploration strategies. The aim of the MoU was to pool DNi’s lateritic nickel/cobalt technology with Regency’s interest in Mambare in a JV.


Regency has completed a small placing of 10 million new shares to raise a total £200,000 for its projects. The company also has interests in nickel and copper in Australia and owns 30% of Red Rock Resources (AIM: RRR) and 15% of Alba Mineral Resources (AIM: ALBA).

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.