moving up nicely - thanks grandma IVK have 18.7% of this...

moving up nicely - thanks grandma

IVK have 18.7% of this project, & have an interest in a gold project in Ghana & a uranium site in Canada(flyover completed end of sept- read ann) are earnings positive (do not expect a divvie) & have an ETA of 1c


(from a Toledo ann on LSX)

BERONG NICKEL PROJECT, PALAWAN

As previously announced, a number of pre-feasibility and feasibility studies in past years have outlined a total resource, at a cut off grade of 0.9% Ni for limonite and 0.9% for saprolite, of 275 million tonnes at a grade of 1.3% Ni a and 0.074% Co. Contained nickel is 3.6 million tonnes.

The project is initially being developed as a direct shipping operation which is anticipated to generate significant cash flow. This comes as a result of an agreement with with Nippon Metals and Alloy Inc of Japan. In addition, interest has been expressed by a number of parties in the joint development of a large scale project to exploit this world-class resource, independently of the direct shipping operation.

Project activities have been focussed on compliance with essential corporate documentary requirements for the Environmental Impact Assessment and in seeking the necessary permits and clearances from appropriate Philippine Government agencies. This concentrates on strict compliance with the requirements under the Indigenous Peoples Rights Act and with obtaining local government resolutions judged essential for application to the Palawan Council for Sustainable Development to obtain mandatory clearance under the Strategic Environmental Plan for Palawan.

A plan and quotation has been developed for rehabilitation of some 15+ kilometres of access road to the nickel deposit site at Berong, utilising some equipment of the local Municipal Government and to be undertaken by a contractor. Work to implement this rehabilitation will commence once necessary Government clearances are in place.