Very large article in this mornings West Australian business section about " Samsung eyes nickle play " One of South Korea's biggest conglomerates, Samsung, is set to inject a much needed boost of confidence into WA's frail base metals sector with an ambitious plan to arrange funding for the 2.5 billion Wingellina laterite nickle project in the State's north-east. Metal X is expected to announce as early as today that it has signed a non-binding memorandum of understanding with Samsung to complete an updated definitive feasibilty of Wingellina with a view to the Korean giant then using its global reach to arrange funding for the mine's development. It's undersatood that all funding options will be considered, as long as Metals X retains a free-carried stake of at least 30% in Wingellina. The article is much larger than what I have typed in, but sounds very good.
MLX Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
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