(Alliance News) - Regency Mines PLC on Tuesday said its joint venture partner attended the Warden's Hearing for its Mambare nickel-cobalt asset in Papua New Guinea and has reported a positive outcome.
The natural resource exploration & development company explained that the Warden's Hearing is an important milestone in the process of applying for a mining license to conduct a direct shipping ore operation over a portion of the Mambare project in Papua New Guinea.
Currently, the Mambare joint venture partners are progressing renewal of the existing exploration licences in parallel to advancing the mining license application, which is intended to take the project to a fundamentally new level of development.
Official confirmation of the Warden Hearing outcome is expected in due course, the company noted.
Regency Mines shares closed 0.6% lower in London on Wednesday at 0.87 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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