the twiggys super powers

No CAZ or BHP can mess with Super Twiggy ! not in WA ! :))))

Andrew "Twiggy" Forrest today as his new play, Niagara Mining, rocketed to the top of the charts.

Perhaps it's Forrest's year to come through with the goods on the stock market, following Fortescue Metals Group's amazing share price run after the deaths of two of its employees during cyclone George that had many in disbelief.

Aside from his Fortescue baby – which shed 44c (1.9%) to $22.55 – his return to nickel in the form of Niagara Mining as non-executive chairman, saw the company's share price end the day at more than double its price of 24.5c before it went into a trading halt.

Niagara's stellar rise saw its share price open at 48c before touching a high of 59c and then cooling to settle at 57.5c, a gain of 33c.

Twiggy set to join Poseidon adventure

Paul Garvey
Wednesday, 4 April 2007

IRON ore baron Andrew Forrest is expected to be appointed to the board of junior nickel play Niagara Mining – which has its foot on the famed Windarra project that sparked the nickel boom of the 1970s – later today.



Andrew Forrest


Mount Windarra nickel project in Western Australia

MiningNews.net understands that Forrest was yesterday seen entering the offices of Niagara, feeding rumours that a management restructure of Niagara was imminent.

Niagara went into a trading halt on Monday pending an announcement expected no later than the close of business today.

The West Australian newspaper today reported that Forrest and Ventnor Capital director Richard Monti were tipped to join forces with Niagara's father-and-son team of Doug and Chris Daws.

Monti was a geologist at Anaconda Nickel, the Western Australian nickel laterite play that launched Forrest to prominence. Anaconda's early underperformance pushed its then chief executive Forrest into temporary corporate exile, but he has since returned to the forefront of Fortescue Metals Group's growth into a multi-billion dollar iron ore hopeful.

Niagara picked up Windarra from WMC Resources in January 2005 for $7 million.

Windarra, whose discovery by Poseidon in the 1970s marked the start of the first nickel boom, produced about 7 million tonnes of sulphide nickel ore at grades of more than 1.58% before it was closed in 1991.

Forrest stepped down from the boards of Moly Mines and Monarch Gold Mining last year citing increased workloads at Fortescue, but late last year added a directorship at Arafura Pearls to his list of corporate roles.

http://www.miningnews.net/storyview.asp?StoryID=96739