happy days for the jervois faithful..., page-35

Of interest to Jervois holders; check out MLM's announcement 1 June - "Chinese Metal Major buys into Metallica" & also the article related to this event in The Australian on Sunday -

"Chinese tin miner takes 5pc stake in Metallica"

June 02, 2007

THE China-based Yunnan Tin Group, the world's largest tin producer, has made another foray into the Australian resources sector, taking a stake in nickel hopeful Metallica Minerals.
Yunnan has spent almost $6 million to take a 5 per cent stake in Metallica through a share subscription agreement.

Metallica's flagship project is the Nornico nickel laterite project in Queensland.

Nickel laterite is low-grade and requires intensive processing or a low-cost heap-leaching process in which crushed ore is put into mounds and irrigated with acid to extract the metal.

"Yunnan Tin is a pioneer in heap leaching of nickel and has invested in Metallica after completing a site visit to Metallica's Nornico and Lucky Break nickel projects earlier this year," Metallica managing director Andrew Gillies said.

"We welcome Yunnan Tin as a strategic shareholder in Metallica Minerals and see their investment and heap-leach nickel experience as a strong vote of confidence in Metallica's nickel heap-leaching projects, which are advancing through the feasibility study stage."

Metallica shares surged 21c or 29.2 per cent to close at 93c.

AAP
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Makes Jervois seem good value at 2.5 C & sounds like the chinese are serious about laterite nickel.

Cheers, nilla