Business
Project updates; management;issued shares
Project updates; management;issued shares.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 3786G Regency Mines PLC 11 May 2011 \n \n\nRegency Mines PLC\n('Regency', 'Regency Mines' or the 'Company')\nUpdate on Mambare project timetable and Bundarra\nTechnical Team - Group Chief Scientific Adviser appointment\nShares in Issue\n \n \n11 May 2011\n \nDirect Nickel Ltd (\"DNi\")/Mambare project timetable update\nRegency Mines, the mining exploration and mineral investment company with interests in nickel and other minerals in Western Australia, Queensland, Papua New Guinea and Pakistan, announces progress in the Joint Venture between DNi and Regency (the \"JV\"), operating through the JV's Papua New Guinea (\"PNG\") subsidiary Canopus No 83 Ltd (to be renamed Oro Nickel Ltd), that is currently preparing a drill programme at the JV's Botue-Mambare nickel-cobalt project.\nThe Project Management staff are on site to complete preparation for the start of drilling, which is now expected to start towards the end of the month, some 4 weeks later than the original schedule. \nOther staff are working on site to complete the line survey, test pitting, camp construction, and contracting of local labour. Clearing of the drill lines and compensation to land occupants is complete, clearance and preparation for the GPR (ground-penetrating radar) survey is 95% complete and work has begun on the infill drilling lines. Test pitting for density and moisture sampling is 95% complete. \nExploration camp construction is 75% complete, with the helicopter pad complete. Community meetings are being held. Communications equipment is being installed, including a satellite dish. 220 ground control points have been established to improve survey accuracy. Medical support has been organised with a paramedic expected on site shortly from Customer Care in Sydney. \nThe drill company's shipping container has arrived at Port Moresby and awaits customs clearance before transhipment to the project area. Delay here and delays in the procuring of visas for the drillers mean that the start date for drilling is now targeted for 23rd May, and could be end month. \nThe new GPR survey is also expected to start end-month.\nCanopus No 83 Ltd, the local operating company, is changing its name to Oro Nickel Ltd, and will henceforth be referred to under that name.\nBundarra prospect\nThe Company through its subsidiary Regency...