LIM's Nickel ShortfallAIR DAILY - 29/05/2007 Takeover target...

LIM's Nickel Shortfall
AIR DAILY - 29/05/2007

Takeover target LionOre Mining International has downgraded its nickel production forecast for calendar year 2007, only a fortnight after reaffirming the target of 44,300 tonnes.
LIM, which is the subject of a multi-billion takeover battle, said yesterday the cut would result from problems and delays at its Maggie Hays mine in Western Australia.

LionOre is Australia's third largest nickel producer behind BHP Billiton and Minara Resources. It says that it now thinks its 2007 nickel output will be around 43,000 tonnes.

"The Maggie Hays sub-level cave operation encountered poor ground conditions during the first quarter of 2007," LionOre told the ASX yesterday.

http://www.sharecafe.com.au/article_air.asp?a=AV&ai=4654