viewRegency Mines PLC

Regency Mines completes initial A$3 mln investment in Direct Nickel


Regency Mines (LON:RGM) has invested A$3 million into Direct Nickel Pty (DNi), as part of its joint venture to develop the Mambare lateritic nickel-cobalt project in Papua New Guinea.

Regency owns the project and the partners plan to use DNi’s proprietary ‘Direct Nickel Process’ to enhance the project.

“The Direct Nickel Process is a hydrometallurgical process for treating nickel laterites with unprecedented efficiency and environmental benefits,” the company said. 

“The Process recycles its novel reagents, offers high cobalt and nickel recoveries with short residence time, produces mixed hydroxide precipitates (MHP) or sulphide concentrate, ... (it) has substantially lower capital and operating costs than competing processes and is fully scalable.”

A Direct Nickel Process demonstration plant is currently in the final design stage, and it will be built at Mambare.

The demonstration facility is expected to process five tonnes of ore per day.

On the ground at Mambare the next phase of exploration is set to get underway in early 2011.

The joint venture was agreed earlier in November.

The partners agreed to co-operate on a 50/50 basis in the piloting and application of DNi's advanced nickel/cobalt leaching technology at Mambare.

Through the investment, Regency will take 519,930 new DNi shares, priced at A$5.77 each.

The consideration for the first tranche is being met with the issue of 26.8 million new Regency shares, priced at a price of 6.9018 pence each. 

Subsequently there will be a second investment of A$3 million for a further 519,930 new DNi shares, this will be completed on 19 December 2010. 

Regency will hold 7.31 percent of DNi once the second tranche is complete.


Quick facts: Regency Mines PLC

Price: 2.875 GBX

Market: LSE
Market Cap: £2.57 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. 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...

In exchange for publishing services rendered by the Company on behalf of Regency Mines PLC named herein, including the promotion by the Company of Regency Mines PLC in any Content on the Site, the Company receives...



Regency Mines putting foundations in place for 'development and value'

Regency Mines PLC's (LON:RGM) Scott Kaintz and Ewen Ainsworth join Proactive's Andrew Scott in the London studio to discuss the recent refinancing of the firm's debt facility as well as the findings of the strategic review. Regency's refinanced US$1.254mln worth of loan notes through to July...

on 1/8/19


Holding(s) in Company

1 week, 1 day ago

Holding(s) in Company

1 week, 4 days ago

Holding(s) in Company

2 weeks, 3 days ago

Holding(s) in Company

2 weeks, 4 days ago

Director/PDMR Shareholding

3 weeks, 3 days ago

Energy Storage MOU

3 weeks, 4 days ago

2 min read