10 Aug 2011 14:15
Regency Mines PLC
('Regency' or the 'Company')
Update - Mambare and Direct Nickel Ltd
10 August 2011
Regency Mines, the mining exploration and mineral investment company with interests in nickel and other minerals in Western Australia, Queensland, Papua New Guinea and Pakistan, reports on activities.
Mambare Joint Venture, Papua New Guinea
Drilling continues at Mambare, the Joint Venture nickel-cobalt project between Direct Nickel Pty Ltd ("DNi") and Regency in Papua New Guinea. Visa delays continue due in part to recent political uncertainty surrounding the appointment of a new Government, and may continue to restrict the scale of drilling operations.
Full results from the ground penetrating radar programme are awaited.
Positive visual results and good depths of ore-bearing material from the drilling have been recorded, but no results will be announced until sample analysis results have been received from the laboratory.
A hearing was held on the application for ELA 1953 (geothermal application), with no objections made.
Direct Nickel Pty Ltd
Wintech Group Ltd (ASX:WTG), a company admitted to the official list of the Australian Stock Exchange whose Ordinary Shares are currently suspended from trading, has issued a Notice of Meeting for a general meeting to be held on 2 September 2011, at which proposals for the acquisition of at least 80% of DNi and a change of name to Direct Nickel Ltd will be proposed. Upon passage of the resolutions, Regency expects that it would in due course be offered shares equivalent to approximately 7% of the issued capital of Wintech Group Ltd. and that WTG would apply for re-quotation of its shares on the ASX.
Further details may be seen at: http://www.asx.com.au/asxpdf/20110804/pdf/4206fmhghwmwj9.pdf
For further information contact:
Regency Mines PLC Andrew Bell, Chairman 0207 402 4580
Sandra Spencer, Public and
Investor Relations 0207 402 4580
Nominated Adviser
Religare Capital Markets Peter Trevelyan-Clark/Ben Jeynes 020 7444 0800
Broker
Simple Investments Ltd Nick Emerson 01483 413500
Updates on the Company's activities are regularly posted on its website www.regency-mines.com.
Note: DNi is a private company incorporated in Australia. Itis currently demonstrating a potentially revolutionary process with attractive economics for treating laterite nickel ores (the "Direct Nickel Process" or the "Process").
The Direct Nickel Process is a hydrometallurgical process for treating nickel laterites with unprecedented efficiency and environmental benefits. It is designed to operate with tank leaching at atmospheric pressure, and is the first to treat both limonite and saprolite ores with a single flowsheet. The Process recycles its novel reagents, offers high cobalt and nickel recoveries with short residence time, produces mixed hydroxide precipitates ("MHP") or sulphide concentrate, has substantially lower capital and operating costs than competing processes and is fully scalable.