a wild guess re nyngan jiaming 1.3 million

A wild guess RE: Nyngan Scandium Jiaming & $1.3 million...

Recent announcements:

Jiaming are scheduled for a visit Wed 27 Feb
Nyngan to produce 10 tonnes of scandium pa from 2009
Capital raising of $1.3 million to be used as working capital for Nyngan
Jiaming have offered "funds equipment and expertise" to Jervois and they have plant and equipment for smelting and acid leach...

Could be wrong - but I think we're shortly due for an announcement that JRV and Jiaming have formed a Joint Venture to mine Nyngan - I suspect that this is more than just a visit - I think they might be here to sign some papers - I predict JRV calling a trading halt monday morning (3-Mar-08) pending an announcement...

Unfortunately I don't think that Jiaming have the capacity to fund Young - as they don't have enough of an internet presence - all I can find is an address and a Dun & Bradstreet listing. I doubt they're anything close to Sino Steel who are a Chinese BHP.

However - scandium @ $3000 a kilo - $3 million a ton - and $30 million a year for 10 tons - is significant for JRV. For those concerned about directors fees - that would cover it - and leave a bit for us. More significantly - $30 million (say $20 million) divided by 2 billion shares equates to 1 cent a share a year... significant for a 2 cent share...

Come monday I'll probably be dead wrong and crucified on Hot Copper as usual... - maybe not...