announcements young nickel project mou

Announcements Young Nickel Project Memorandum of Understanding 080207.doc
LEVEL 20, 114 WILLIAM STREET, MELBOURNE, VICTORIA 3000 www.jervoismining.com.au
Telephone: (03) 9670 3766 Facsimile: (03) 9670 3691 Email: [email protected]
JERVOIS MINING LIMITED
A.B.N. 52 007 626 575
8 February 2007
Australian Stock Exchange Limited
Exchange Centre
Level 10
20 Bond Street
SYDNEY NSW 2000
ASX ANNOUNCEMENT
Young, NSW Nickel Project – Memorandum of Understanding (MOU)
Jervois Mining Limited has successfully negotiated a Memorandum of Understanding
(MOU) with Guangdong Guang Ye Assets Management Co Limited in relation to the
possible future development of the Young, NSW nickel/cobalt laterite project.
Guangdong Assets Management Co Limited (“Guang Ye”) is a company wholly owned by
the Guangdong Provincial government in China. Under the terms of the MOU Jervois has
granted Guang Ye an exclusive six month mandate to join the Young project while further
exchanges are completed.
Guang Ye company representatives and technical personnel will visit the Young project
and test laboratories at the end of March or early April 2007. Guang Ye will also analyse
the resource, the proposed laterite ore treatment technology and the project economics
before making a decision to proceed with the project.
In essence, the MOU states:
• Guang Ye believes that the development of the Young project would fit well with its
nickel processing operations.
• Jervois has given a commitment that it will not deal with any other Chinese entity while
Guang Ye is considering its decision. This commitment would last for 6 months.
• Jervois undertook to provide Guang Ye with a business plan which would cover items
like projected capital expenditure and operating expenses and any and all technical
data pertaining to the project.
• Guang Ye representatives including technical personnel will visit the Young project and
test laboratories at the end of March or early April 2007.
• Guang Ye will assess all aspects of the project and advise Jervois if it wishes to
proceed with a joint venture agreement.

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• Jervois and Guang Ye agree to move the project forward as quickly as possible.
Guangdong Guang Ye Assets Management Co Limited attended, by invitation, a NSW
government initiative in January 2007 and subsequently met the board of Jervois in
Melbourne. As a consequence, Double Link, Jervois’ Chinese agent, paid a return visit to
Guandong Province on the company’s behalf.
The board of Jervois Mining Limited views this as a significant initiative.
By Order of the Board,
DUNCAN C. PURSELL
MANAGING DIRECTOR