good news for jrv, page-19

Hi Robin - no reply to email yet...

I don't think that Jiaming have the dollars to build a plant; if they did then it would have been specifically stated and we'd be negotiating terms for a joint venture - such an event would necessitate informing shareholders ASAP under ASX rules.

What the announcement did say is that Jiaming are offering equipment, funds and technology. The equipment specifically mentioned are 2 pilot plants - a 200 ton a day nickel leaching plant; and a 100 ton a day smelter.

I believe that we won't immediately jump onto this offer because we're close to signing a deal with Sino (or someother major). The thing is - if we don't sign a deal with a major player (in say 6 months...) then we have the option of setting up a pilot plant at Young. The pilot plant would would prove to any potential investors (beyond doubt) that they can make a lot of money at Young. Then we'll not only get a JV partner (their money...) but we could get a better deal resulting from competition among prospective suitors. If Jiaming can get us 55% instead of 50% - then let them have the 5%...

RE a post concerning environmental impact - all of the land at Young is freehold and JRV have agreements with all 38 landowners RE access and compensation.