Business
Portfolio of Nickel Assets
Portfolio of Nickel Assets.
About this update from Uru Metals Limited
[{"type":"text","content":"\n \nRNS Number : 4012E URU Metals Limited 06 April 2011 \n \n\nFor immediate release 6 April 2011 \n \nURU METALS LIMITED \n(\"URU Metals\" or \"the Company\") \n \nPortfolio of Nickel Assets - Southern Africa\n \nHighlights \n \n· Satisfactory and successful conclusion of all due diligence activities between Southern African Nickel (\"SAN\") and Umnex Holdings in relation to the acquisition of the Zebediela Nickel Project close to the mining town of Mokopane in the Limpopo province of South Africa.\n \n· Addition of the Zebediela project to the portfolio of nickel assets held by the SAN-URU Metals exploration joint venture (\"Joint Venture\")\n \n· The acquisition involved no additional cash consideration to be made by either the Company or SAN and did not increase the Company's original committed contribution to the Joint Venture of US$3.6 million, against which approximately US$1.8 million has already been spent. \n\n\n\n\n As announced by the Company in October 2010, the intention remains that URU Metals and SAN plan to convert the Joint Venture and its associated nickel projects, into a separately listed entity. \n\n\n\n · Commencement of drilling at both the Burgersfort and Zebediela nickel projects in South Africa. \n \nCommenting on this latest acquisition for the Joint Venture, Paul Loudon, Non-Executive Chairman of URU Metals, said:\n \n\"The successful conclusion of the due diligence activities between SAN and Umnex Holdings and the addition of the Zebediela project to our portfolio of nickel projects in Sout...