lion eyes on smy?

Found the following which may be of interest to the holders of SMY.

http://www.theage.com.au/articles/2004/06/29/1088487963562.html#
By Barry FitzGerald
Resources Editor
June 30, 2004

LionOre hits high note with issue
LionOre Mining, the Canadian-controlled miner with
big ambitions in the Australian nickel industry, is to pull
in $US125 million ($A179 million) from a convertible
note issue.
The raising by the locally listed gold and nickel group
is believed to be earmarked for "general corporate
purposes". Analysts read that to mean more action in
the nickel sector, possibly among the key East
Kimberley players - Sally Malay and Thundelarra.

LionOre owns the Phoenix nickel mine in Botswana
and the Emily Ann nickel mine and Thunderbox
goldmine in Western Australia.
It also owns the the Activox processing technology,
which it plans to scale up at its recently acquired
Bulong laterite nickel processing plant near Kalgoorlie.
LionOre plans to return Bulong - built for $300 million
but acquired for $30 million - to production as a 5000-
7000 tonnes-a-year producer using a hydrometallurgical
process that uses nickel sulphide
concentrates.
LionOre announced a nickel offtake deal and a $20
million funding agreement with Western Areas last
week, underpinning the development of Western
Areas' Forrestania nickel project.
The Forrestania project is 80 kilometres west of
LionOre's Lake Johnston nickel operations, where the
Emily Ann/Maggie Hays operation is building towards
annual production of 10,000 to 12,000 tonnes of nickel
(contained in concentrates).
Forrestania has been planed as a 7000 to 10,000
tonne (contained) nickel producer from early 2006.
LionOre shares yesterday closed down 10¢ at $6.70
on the Australian Stock Exchange.

June 30, 2004