Based on the Young Witness article below, would Jervois go through the expense of opening up an office and buying up houses in Young if the deal was in any doubt ?
Local mine agreement countdown
WENDY BAUER
24/10/2008 10:21:00 AM
MELBOURNE based mining company Jervois Mining has seven days to complete a formal agreement with its proposed Chinese partners for a pilot program to mine nickel and cobalt near Young.
A heads of agreement was signed with China Railways Resource Development Group and Yunnan Jiaming Technology and Industry Company in June, when arrangement made to finalise the aggreement by the end of October.
Last month the Foreign Investment Review Board approved the proposed deal.
Jervois has already established a presence in Young with an office and houses in the town for use by the participants.
The company has exploration leases on 265 kilometres of farming land near Young, over what is considered to be one of the nation’s biggest untapped nickel deposits.
In the proposal Jervois will provide the tenements, and the Chinese companies provide funds and patented recovery technology.
re:trading halt on thursday or friday
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