announcement on jinchuan update , page-2

Today's announcement filled within non price sensitive catagory, but IMO, it is very bullish to MLX's bright future.

The news does appear in quite a few mining websites at night, but in ASX today, people failed to foresee its significance.

HRR is flying today. I am still wondering, who will be the first to be a gaint nickel producer?

High grade nickel producers WSA and MCR are digging their nickel deeper and deeper.

Cheers, Weihua



********************************************
China's largest nickel producer, Jinchuan Group, has been axed from the next stage of BHP Billiton Ltd's process to sell its mothballed Ravensthorpe mine in Western Australia.

Metals X says it has been advised by its second largest shareholder Jinchuan, that the Chinese miner has not been invited by BHP Billiton to participate in the next stage of the Ravensthorpe sale process.

The Ravensthorpe mine, near Esperance, fell victim to plunging nickel prices amid the global financial crisis and closed in January this year about 12 months after it opened.

Metals X said on Monday that Jinchuan believed Wingellina was a better prospect for growing its business.

"Jinchuan considers that Metals X's Wingellina nickel limonite project (in WA) represents a much better opportunity to grow its global business with a superior uncomplicated orebody with simple metallurgy,"Metals X, Australia's largest tin producer, said in a statement.

"Although remote, Jinchuan believes the world-class size and quality of Wingellina will overcome the isolation impediment."

********************************************************