just a reminder of the corporate strategy

This is a serious nickel player with ambition to grow significantly and have the backing to do so.Patience,foresight and a touch of luck will be required however a very good speculation imo.
Large share overhang is being patiently soaked up.

Jinchuan to make Albidon an acquisition vehicle for nickel assets
Tuesday, 10 Aug 2010

Dow Jones reported that Australian nickel miner Albidon Limited's majority owner Jinchuan Group Co plans to make Albidon an acquisition vehicle for nickel assets.

Jinchuan built a 50.4% stake in Albidon during the financial crisis when low nickel prices and tighter credit markets forced Albidon to suspend development of its Munali nickel project in Zambia, de list from exchanges, and move into administration.

Mr Alasdair Cooke MD of Albidon Limited told Dow Jones Newswires that Albidon is now on track to re list on the Australian Stock Exchange in August and reaches its annualized capacity of 6,500 tonnes of nickel in concentrate at Munali by September 2010.

Mr Cooke said that once this is achieved, Albidon plans to use Jinchuan's strong connections with Chinese banks to move quickly and aggressively in acquiring nickel assets in Africa and Australasia that have synergies with Jinchuan.

He added that "The general intention in Jinchuan is seeking to use Albidon as a vehicle for their offshore activities. Albidon's maintaining a close watch over any opportunities in African and Australasian regions for nickel assets. Albidon's team will go and find these distressed projects and bring them under the same management."

Mr Cooke said that some potential targets are projects owned by companies that Jinchuan has already signed off take agreements with, or has stakes in.

Mr Cooke said that Albidon has not reached the stage in any of its relations or discussions with companies to reach an agreement or make an announcement. He added that "There is nothing that can be formalized at the moment."

One difficulty Albidon faces is the scarcity of nickel sulfide deposits that are in the predevelopment stages. Nickel sulfide deposits are rarer but more attractive than nickel laterite because the extraction technology is well understood and costs are generally lower.

The biggest nickel sulfide prospect in Albidon's view is Xstrata PLC and Barrick Gold Corporation's JV Kabanga nickel sulfide deposit in Tanzania. The two companies are nearing the end of a feasibility study for Kabanga. Barrick chief executive Aaron Regent at a conference last November cited Kabanga as one of its non core projects that it could sell. The company has said it plans to make a decision once the feasibility study is completed.

Mr Cooke said that "There's no question Kabanga is the best undeveloped nickel deposit in the world. The project isn't formally on the market but I think everyone knows Barrick's canvassing interest."

(Sourced from www.dowjones.com)