Business
Update - Mambare and Direct Nickel
Update - Mambare and Direct Nickel.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 1157M Regency Mines PLC 10 August 2011 \n \n\nRegency Mines PLC\n('Regency' or the 'Company')\nUpdate - Mambare and Direct Nickel Ltd\n \n10 August 2011\n \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, reports on activities. \nMambare Joint Venture, Papua New Guinea\nDrilling 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.\nFull results from the ground penetrating radar programme are awaited. \nPositive 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.\nA hearing was held on the application for ELA 1953 (geothermal application), with no objections made.\nDirect Nickel Pty Ltd\nWintech 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.\nFurther details may be seen at: http://www.asx.com.au/asxpdf/20110804/pdf/4206fmhghwmwj9.pdf \n \nFor further information contact:\n \nRegency Mines PLC Andrew Bell, Chairman 0207 402 4580\n &nbs...