You missed the point .The point being Jinchuan Group Ltd didnt...

You missed the point .

The point being Jinchuan Group Ltd didnt put any money on the table to help get it going as they did with the copper yet they are investing in other companys.

Jinchuan Group dosnt love them blindly as some do . They have kept there hands in there pockets on this venture . Why ????

Wow they are taking their ore who wouldnt when its in short supply.

SYDNEY (XFN-ASIA) - Metals X Ltd said China's largest nickel producer, Jinchuan Group Ltd, has agreed to assist it in developing its Australian mineral assets, including the Central Musgrave nickel project in Western Australia.

Central Musgrave includes the Wingellina deposit, rated the world's 16th largest undeveloped nickel oxide deposit and containing an estimated 2.03 mln metric tons of nickel metal, Metal X said.

The mining company said under a framework agreement Jinchuan has agreed to buy 117 mln shares at 0.28 aud each which will see the Chinese company become Metal X's largest shareholder with 13.0 pct of the expanded capital.

The placement, which is subject to regulatory approvals in China, will raise a gross 32.76 mln aud.

Metal X said Jinchuan has also agreed to provide technical assistance to minimize project development costs and support the construction and operation of the Central Musgrave project.

It said it has agreed to grant Jinchuan off-take rights for nickel produced at Central Musgrave and first right of refusal to purchase products from any other projects which Jinchuan participates in directly.

Metals X chief executive Peter Cook said in a statement that Jinchuan's participation is a major endorsement of the potential of the Central Musgrave project.