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Regency Mines welcomes Direct Nickel process success

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Regency Mines’ (LON:RGM) partner Direct Nickel (DNi) has announced the successful outcome of its demonstration programme for the DNi process from the test plant in Perth, Australia.

Regency, which owns a 7% stake in DNi, said the process validation report proves the safety and simplicity of the DNi process.

The metal recoveries for pay metals, nickel, cobalt, iron and magnesium, match laboratory results with 90% plus for nickel, while 95% recycling of nitric acid was achieved.

Importantly, the processing operating costs have been confirmed at between US$2 and $3 per pound (lb) before by-product credits for some markets such as Indonesia.

The DNi process is a hydrometallurgical process for the treatment of nickel laterites. It recycles its reagents and offers high cobalt and nickel recoveries with short resistance time.

Chairman Andrew Bell said: “These long-awaited and much anticipated results are of signal importance. The advantages, in both process and economics, of the DNi Process need no longer be spoken of as hypothetical or potential, but can be described as actual.

“This development comes at an opportune time for countries that wish to achieve greater value from nickel projects.  

“Indonesia for one has banned nickel ore exports and from 2014 requires in-country processing, and others may soon follow leading to significant opportunities for DNi processing plants to be established worldwide.”

Regency shares rose 12% to 0.37p on the news.


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Price: 0.0384 GBX

LSE:RGM
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