3rd Oct 2013 15:19
LONDON (Alliance News) - Regency Mines PLC Thursday announced that Direct Nickel Limited, of which Regency owns 7.5%, has successfully completed 16 or 19 planned drilling campaigns in Papua New Guinea.
Regency Mines, a mining and mineral investment company, said that campaigns 17 and 18 at the Mambare nickel-cobalt site are expected to be combined into a 24-day continuous run.
"We are very pleased with the results so far. We can confidently predict that we shall have achieved the objective of proving the Process to the point where it is ready for commercial use," Direct Nickel Limited Chief Executive Russell Debney said in a statement.
Regency Mines shares were up 5.8% to 0.64 pence Thursday.
By Tom McIvor; [email protected]; TomMcIvor1
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