22 Sep 2008 15:37
REGENCY MINES PLC
Increased Shareholding
Dated: 22 September 2008
Regency Mines plc ("Regency" or the "Company"), the mining exploration and mineral investment company with interests in copper and nickel in Western Australia, Queensland, and Papua New Guinea, has increased its shareholding in the Mambare nickel-cobalt project in Papua New Guinea from 75% to 100%.
Regency has purchased the outstanding 25% of the shares in its locally incorporated subsidiary, Canopus No. 83 Ltd, the owner of the Mambare project, from a local vendor for a consideration of Kina 350,000 (approximately £75,000) payable in two tranches, and the cancellation of a debt of £115,365.45 in outstanding debt owed by the vendor.
Drilling continues at Mambare with seven rigs now in operation.
Enquiries:
Regency Mines plc
Andrew Bell, Chairman 0207 402 4580 or 07766 474849
Blomfield Corporate Finance Ltd, Nominated Adviser
John Simpson / Ben Jeynes 020 7489 4500
Lothbury Financial Limited, Public Relations
Ron Marshman / John Greenhalgh 020 7011 9411
Updates on the Company's activities are regularly posted on its website, www.regency-mines.com.