Allegiance Mining sets new Nickel concentration benchmark
Avebury mine is the world’s first ‘skarn’ nickel deposit.
The nickel ore is essentially only nickel sulphide and as such, Avebury will produce one of the world’s highest grade nickel concentrates at 22% + nickel, and will essentially be ‘Nothing but Nickel’.
Mining and mine preparation commenced in January 2007, and the Treatment Facility is now under construction and mechanical completion is now scheduled for early first quarter 2008.
The premium 22%+ concentrate is contracted to Jinchuan Group Limited at an initial anticipated rate of 8,000-9,000 tonnes of nickel metal in concentrate per annum.
Jinchuan has subscribed just under A$50M for an 11% equity interest in Allegiance. 10 August 2007
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AGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
