Business
Update on Mambare and Direct
Update on Mambare and Direct.
About this update from Corcel Plc
[{"type":"text","content":"\n RNS Number : 0143X Regency Mines PLC 30 November 2010 \n \n\nRegency Mines PLC\n('Regency', 'Regency Mines' or the 'Company')\nUpdate on Mambare and Direct Nickel Pty Ltd\n30 November 2010\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, announced on 19 November 2010 that it had entered into an agreement whereby the Company was to invest in Direct Nickel Pty Ltd (\"DNi\"), and the two parties would, pursuant to their joint venture, jointly finance the next stage of exploration at Regency's Mambare lateritic nickel/cobalt project in Papua new Guinea. \nDirect Nickel Pty Ltd and the Direct Nickel Process\nDNi is a private company incorporated in Australia. It is currently demonstrating a potentially revolutionary process with attractive economics for treating laterite nickel ores (the \"Direct Nickel Process\" or the \"Process\"). \nThe 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.\n \nDNi owns the worldwide perpetual rights to the Process which it developed from precursor processes originally developed in the chemical processing sector in the USA. DNi has spent more than USD 14m over the past three years on proving the Process, partly through technical partnership with its shareholder and major Canadian miner Teck Resources Limited. \n \nThe Direct Nickel Process has the potential to revolutionise the economics of global nickel production.\n \nDirect Nickel Pty Ltd and Regency Mines plc\nDNi and Regency first announced a joint venture co-operation on 6 November 2009 with a commitment to pilot and apply DNi's advanced nickel-cobalt extraction technology. \nRegency Mines has now subscribed AUD 3,000,000 (approximately £1,852,520) for a first tranche of 519,93...