mincor pulls plug, page-5

MARKET UPDATE – MINCOR’S PROPOSED ACQUISITION OF THE
INTERESTS OF VIEW RESOURCES LTD IN THE CARNILYA HILL
JOINT VENTURE
Further to the announcement by Mincor on 8 January 2008 that it had reached agreement with View
Resources Ltd to acquire the interests of View in the Carnilya Hill Joint Venture and certain other nickel
rights. We wish to advise that the conditions associated with the acquisition had not been satisfied by
the required date.
The Parties to the proposed transaction have not agreed on a further extension to the date for
satisfaction of these conditions and accordingly the agreement has lapsed.
We further advise our shareholders that View Resources Ltd entered voluntary administration on 8
February 2008.
Mincor remains the holder of a 70% interest in the Carnilya Hill Joint Venture, which joint venture is
governed by a joint venture agreement containing standard pre-emptive rights in favour of Mincor.
The Carnilya Hill Nickel Mine, which is currently under development by the Joint Venture, and operating
under the management of Mincor, has now entered its production ramp-up phase, and work is
proceeding on schedule.
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