Regency issues Mambare report

13/06/2012 Ben Jaglom

Papua New Guinea has a large mining industry

Papua New Guinea-focused Regency Mines (LON:RGM) has issued results from the Mambare nickel laterite project.

The AIM-quoted minnow noted that the combined indicated and inferred resource stood at 162.5 million tonnes of nickel grading at 0.94 per cent nickel and 0.09 per cent cobalt.

Regency notes that there has been a 67 per cent increase in contained nickel on an estimate made in April 2012.

Project manager Ian Warden described the results as 'exciting' adding that they should help to build the Mambare Nickel Project towards what he enthused would be a 'world-class scale'.

While the results from Mambare are interesting, what is key is its abilty to produce nickel from the project. Investors in Regency have seen the shares slump from a high of 4p last year but we would advise holding on for better days as the explorer retains speculative appeal. Speculative buy

Tags: Business in Papua New Guinea, Doing business in Oceania, Nickel project

Sector: Mining

Companies: Regency Mines

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