Regency Mines chairman Bell looks to 2014 with confidence


Regency Mines (LON:RGM) chairman Andrew Bell said he is looking forward to next year with confidence, after a 2013 which he describes as “operationally successful”.

During the financial year ended June 30 2013, the company sold 80% of the Fraser Range project to Ram Resources.

It has also seen some encouraging early results relating to nickel recovery technologies being tested in Australia - relevant to the company’s Mambare project – and those findings will “soon follow”, the company said.

Regency has also advanced its potash exploration venture in Sudan, where it has identified areas with “significant potential”.

"This was a successful year operationally, with the sale of 80% of our Fraser Range project to Ram Resources and encouraging results from DNi's pilot plant in Western Australia, although shareholders have not yet seen the benefits of this progress,” Bell said in a statement.

"Regency Mines is now focused on two primary active projects: Papua New Guinea and Sudan.

“We also have strategic interests in Red Rock Resources and Alba Mineral Resources and are open to new exploration opportunities.

“We look forward to 2014 with confidence."

During the twelve month period, Regency reduced its borrowings to £530,000 from £1.6mln.

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