could this be the next one to go like white nile speculaors talking about 20p i'm in @ 4p RAB capital have 30% so following thier lead any opinions ????

Replacement - Increased MRE for Mambare

http://www.moneyam.com/action/news/showArticle?id=4387567

Edison gave a value of I think 2.3p/share to the previously announced Mambare resource - and this was based on values of other companies with Nickel resources in current market conditions not pie-in-the-sky values. And I think their last report stated they would update after this upgrade. Should be nearer 4p now by the same yardstick and that's just for the Nickel resource.

martinl2

They also gave their best case at 74p I’m here to we get there.

http://library.rrrplc.com/RGM_web/RGM_Broker_Research/RGM_Broker_Research_2011/RGM_EdisonInvestmentResearch_24.05.2011.pdf

I'd be happy with 7.4p for the time being!

Me to.

And your point is?

7.88 when I bought them in November 2010 seems a life time ago and will probably be a life time before it gets to that again. Hopefully not.

3m

You must average down at this low price we won’t see this for much longer.

Love to but just lost £1000 on ATG - no spare cash yet again, would like to average down on a lot but can't. Cheers though. Hope something else comes good pretty dam quick and gl luck to you.

New note from Edison following the resource upgrade

http://www.edisoninvestmentresearch.co.uk/researchreports/Regency140612flash.pdf

"Given that today’s resource alone more than supports the current share price, the market appears to ascribe no value to the significant (174p/share) potential resource upside. Nor does it ascribe value to the company’s other assets. Our forecasts for Regency remain under review."

martinl2

Cheers a nice update from Edison.

Mambare resource increase
http://www.edisoninvestmentresearch.co.uk/researchreports/Regency140612flash.pdf

New DNi website.

http://www.directnickel.com/

calm down.,. just thought a chart would help as there isn't one in the header.,.

E-mail sent out by Regency Mines...

Dear Shareholders and Colleagues,

We have just released a new JORC-compliant Resource estimate for our Mambare nickel-cobalt project in Papua New Guinea. This can be viewed on our website by clicking here.

From only a small part of the license area, we have declared an Inferred Resource of 162.5m tons, at an average grade of 0.94% Nickel and 0.09% Cobalt.

This is a very substantial Resource, equivalent to 1.53m tons of contained nickel, which makes this already one of the larger projects worldwide. It may be noted that other laterite projects are often geologically or geographically constrained, so that the declared Resource cannot be much increased; this one has very great expansion potential. The possibility exists that if it came into operation would be producing for many decades, a characteristic that may make this project attractive to, for example, Chinese partners.

The nickel price currently is $17,082 per ton, and the cobalt price is $29,100 per ton (source: London Metal Exchange).

We have seen two updates on the company so far, one from VSA Capital and one from Edison Investment Research. If you have access to either of these services, which are primarily designed for institutions and professional and qualified investors, you may wish to read their notes, which are positive in tone.

GECR has also prepared a report, which will go to their large retail investor readership, and we enclose a copy of this and of the Edison report.

Now that we have a story to tell, we must become much more proactive in telling it, and any suggestions from you as to how we might better get our message across will be welcome.

The achievement of this considerable milestone opens a number of options, and we shall make a public announcement about how we will pursue them. It is good to have the drilling phase leading up to the declaration of a JORC Resource, which was a substantial financial commitment for us, now completed.

A period of appraisal and study now begins, as our partners Direct Nickel Ltd continue progress to the commencement of testwork at their pilot plant in Perth.

They have recently issued an update to their shareholders, that will no doubt soon appear on their website.


Kind regards,

Andrew Bell

EMail from AB - Sent 10/09.

Dear Shareholders and Colleagues,

I recently completed a short trip to Australia, in the course of which I had a number of meetings and discussions, some of which were focussed on the Direct Nickel technology that we expect to apply to our Mambare lateritic nickel project in PNG, and some on the maturing and often exciting activities of Regency Mines Australasia Pty Ltd.

At Bureau Veritas I watched our brown clay samples being passed over a Wilfley table, with the titanium ore separating out as blackish granules. This was a very satisfying sight:

We want to see what the ore is (rutile or ilmenite?) and if it is ilmenite, evidence that we can get up to a 30% concentrate. So far so good, and the metallurgical testwork is nearly complete, so we will start getting answers; the ore type we will know when a chemical scan has been completed, which takes a little longer.

We met with some people in the graphite space and discussed graphite matters of mutual interest. This story will run and run, but the devil is in the processing, and many companies that talk about their graphite targets have rather a glib and superficial understanding of that. It was a pleasure to speak to people who seemed to have a deep and long-term commitment in an area where we are learning as we go, and so need to take instruction where we can find it. Our neighbours at the old Halberts mine own a facility that produced high grade graphite with very low impurities, and our ground, though undrilled, has definite potential as the structures continue through it and any expansion potential they had would be likely to lie in our ground.

There are no good pictures of this, and Helen who has been there has none: one piece of dense scrub looks much like another!

The DNi pilot plant at the CSIRO facility in Curtin University I visited for the first time since late 2011, and this time Graham Brock, the project manager, was there to show me round himself. The financial constraints of DNi meant that progress was held up for some months, but the plant is now being completed and everything is on the move. There has been some confusion about the stage 1 and stage 2 that DNi sometimes use in describing their process: to clarify, here are a couple of flow sheets that you may find helpful:

The key to nickel viability historically in the sulphide nickel area has been by-product credits. The Russian long-life giant producer Norilsk has silver and other credits; this makes them profitable. Those with no credits may never make it into production. In the nickel laterite area good grade and not excessively expensive processing have not compensated for the fact that by-product credits are usually limited to cobalt. One interesting difference between the conventional sulphuric acid-based HPAL process and the DNi process is that the Mg comes off not as an environmentally hazardous waste but as MgO, a valuable by-product with a high sales price and potentially up to $200m in annual sales from a 20,000 t p.a. nickel plant. I had not done the sums before Graham helpfully did them for me, and we would need to understand the Mgo market better before inputting them into any assumptions, but this is certainly an area we will focus greater attention on now.

With Grant Donnes, our consultant geophysicist and a director of Regency Mines Australasia Pty Ltd, we looked at the potential corollaries of the structures on our new tenements along a 50 km zone on the Fraser Range with the recent discovery 18 km away of Australia’s biggest copper discovery since Sandfire. And we considered next steps at our copper/gold project at Bundarra in Queensland.

Our quiet but persistent exploration effort in WA is beginning to pay off, and for our lateritic nickel story 2012 will be a banner year, with a huge Mineral Resource declared on just a small part of our Mambare tenement, and we hope the Direct Nickel story reviving as the pilot plant moves into commissioning and production.

Our stock exchange announcements tell the story from a regulatory point of view, but the human dimension of the progress achieved, and the industry background, are an important part of the picture as we see it. To allow you to see events a little bit through our eyes and so humanise the narrative is something that we hope is a legitimate aim and a process that will tend to increase your understanding.

Andrew

Shareholder Update – September 2012

http://www.directnickel.com/shareholders-update/

RGM Newsletter.

If you're not receiving it, e-mail natasha.walton@regency-mines.com

Dear Shareholders and Colleagues,

In the absence of my colleague Natasha Walton on a well-deserved holiday in Australia, it falls to me once again to send you this newsletter to decipher some of what may be mysterious in our recent RNS announcements, and to give some background. We hope this kind of communication is useful; if it isn’t, tell us if you think we can make it better, or unsubscribe if you don’t!

Recent announcements have focussed on our Australian exploration interests. We have mentioned a number of prospects, but focussed on three aspects. First, the area around Munglinup where we encountered sulphides in aircore drilling and subsequently elevated titanium levels in one area, and have conducted some metallurgical testwork. Secondly, the area around the old Halberts graphite mine (which does not belong to us) which contained the continuation of the structures hosting at Halberts high grade large flake graphite. Thirdly, the applications for ground along the Fraser Range, on which we made an announcement on 21 September (http://www.regency-mines.com/themes/RegencyMinesTheme/scripts/php/rns_viewer.php?id=20378989 )

What these three areas had in common was that they were along or near to our area of concentration: the boundary between (a) the Archaean Yilgarn craton that sits like a dinner plate occupying much of the southern part of Western Australia, and (b) to its south and trending north-east along its borders the proterozoic rocks of the Albany-Fraser metamorphic terrane. This orogenic mobile belt saw the 2005 discovery of the Tropicana gold deposit, now owned by AngloGold Ashanti, and often described as Australia’s latest major gold discovery (a phrase that makes both journalists and promoters happy). Since the scale of this deposit and its geology have become better understood, all the ground along the ‘Tropicana gold belt’ towards our tenements has been held by explorers, principally international majors, as can be seen in some of the illustrations accompanying our announcements. The new paradigm for exploration in this area that became possible with the new style of mineralisation identified at Tropicana has led to exploration along the belt, including our exploration at Munglinup, which has consisted of geochemistry, geophysics, and aircore drilling so far. These are still early days however for the belt, and possibly even for our Munglinup areas despite our attempts at exploration, which have so far not yielded any ‘smoking gun’, only the interesting sniffs of sulphide we reported and various clues we do not know how to interpret such as the elevated titanium levels. Everything here is a ‘blind target’, which means there is no surface expression of what may lie beneath.

The old model, where people looked for base metals and gold in the Archaean greenstones of the Yilgarn craton, has been replaced by one more subtle and with different challenges. It is interesting that on the northern margins of the Yilgarn the proterozoic rocks of the Bryah basin have also yielded a significant recent copper discovery at DeGrussa in 2009 and exploration is now focussing on the mixed volcanic and sedimentary rocks of this area. We held ground there too, but our analysis suggested that while we had ‘nearology’ the right rocks did not extend into our tenements so we could not develop a sufficiently strong geological hypothesis to justify the expense of testwork.

The ground we pegged in the Fraser Range was along strike SW from Tropicana and NE from Munglinup. We pegged it because Sirius dropped it. They dropped it because you have to drop after two years and in succeeding years a proportion of your license area in WA. And at that time they hadn’t discovered anything and were like others suffering a shortage of funds in what was a poor market (as we know) for explorers. We liked it because it had what we thought was the gold-prospective ground going through it and a number of good gold anomalies. Also along its south and east it contained ground that seemed to be mafic and ultramafic rocks with geophysical anomalies and potential for base metals, though we were not focussing on that.

Then what happened? In July 2012, at the end of a Government-subsidised drill programme (a kind of ‘scholarship fund’ with limited matching finance for drilling in, for example, remote and expensive desert areas like this), in the last 1.5m of the last hole, a company called Sirius, that like us had pegged ground hoping to find another Tropicana, and was exploring a base metal anomaly, had a discovery, Nova. If they had packed up the drill the previous evening, 1.5m short of target depth, I hear, there would have been no discovery: the area would have been written off perhaps for 20 years. Nova is now being described as Australia’s latest major base metals discovery, the most significant for a generation (again a phrase that makes journalists and promoters happy). I will let the Australian Financial Review speak for me rather than attempt to describe July’s events further: http://afr.com/p/business/companies/sirius_stock_spurts_on_metals_find_7z2ehSC68szvUIwalX1gYO

The Sirius price is now not 45c as at the time of the article, but $2.81. The Sirius page on the ASX website is http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&allinfo=&asxCode=sir and their 29 October announcement, one of the most recent, is also one of the most exciting: http://www.asx.com.au/asxpdf/20121029/pdf/429r1jhmpxqy43.pdf

So we have something quite big a few km to our east, which is unexpected, and we are not just benefitting from nearology but have the right rocks and the right anomalies to explore not just for a Tropicana (gold) but also for a Nova (base metals). The chances, as ever in exploration, are less than 50% (or it wouldn’t be exploration) but better than the National Lottery. However the expense would be considerable, and drilling through the surface sand to what’s below is not something that can be skimped if one wants results. The appetite for this exploration in Australia is strong at the moment: they accept the risks, and want the rewards. They know the potential and feel the excitement. They will put up the money that would be hard to find and very expensive in terms of dilution if we were to fund here in London. Here there is no excitement about the Fraser Range.

So we have done the logical thing and agreed to put these assets into an Australian company, Ram Resources Ltd (ASX:RMR). http://www.regency-mines.com/themes/RegencyMinesTheme/scripts/php/rns_viewer.php?id=20456848
We will if the transaction proceeds in all aspects be a major shareholder; indeed preponderant. We anticipate that we will from the beginning be having input and a strong voice in the exploration decisions, and hope to start exploration even before the main money-raise of $1.5-2m, catching the tide and not being left behind.

We will I feel sure look to strengthen the regional portfolio, and believe there is still time. These are early days for exploration in the area.

The shares we get if all goes well (we get 40m immediately) will be 1.2bn, priced at 0.15c Australian and valuing our interest at $1.8m (the current RMR price has risen to 0.4c), with a 1% gross royalty and 20% of the project retained by us on a free carry for a year. The RMR vehicle will have the funds needed for exploration of this project, which will not yield I believe a result unless there is a willingness to commit funds to explore at least actively – and maybe aggressively! Setting the dilution to RGM shareholders against the funds raised and the programme that would be possible, this seems a good outcome, on licenses only just granted and with negligible book cost.

We have long wanted an Australian vehicle for our Australian interests, where they could achieve full value and a good Australian team could be built up: the lack of a flagship project combined with weak markets had delayed this. Now, with assets that though unproven and unexplored have high market recognition, we can establish a bridgehead. We expect any RGM appointments to RMR will be Australian-based professionals, with just one geologist Project Manager from London involved, since we want RMR, or whatever its name may be, to have a life and spirit of its own and the capacity and confidence to take major decisions.
Here we are, surrounded by a sea of Sirius!
This is the Sirius gold geochem anomalies released in the area now covered by our tenements..............the open file AEM conductor and the magnetic unit similar size to Nova not shown............. this is all public data by the way.

So you can see what lay behind our creating ‘another vehicle’ in Australia, and what lay behind the valuations and strategy. We hope this at worst this creates extra shareholder value at no cost for RGM, and at best it is the spark for success and discoveries.

Further information can be obtained from the RMR page on the ASX http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&allinfo=&asxCode=rmr and RMR’s description of the transaction with illustrations is at http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01349159

Let me turn to the graphite project. Logic dictates that we look for forms of co-operation with neighbours and other interested parties that will create a long-term graphite strategy in which we can participate. This we have spoken of, and our view is unchanged that this is the framework within which we can progress drilling and exploration best. If we have something to announce, we will announce it, but given our lack of background in graphite it is more important for us to get it right than to act quick. So we hope shareholders will be patient, and understand why when they ask ‘what is happening?’ we do not reply.

We continue to look at Sudan as a possible area for diversification into agrominerals. The key is to be sure we have clear targets and a very controlled programme which will not lead us into early or high expense. That is what due diligence is designed for, and we have given ourselves as announced until the end of November.

Shareholders sometimes suggest that a constant diet of announcements may be good for the shares. We believe that constant activity may sometimes serve them ill and incur unnecessary costs, and that all activity should be strategic. Our discovery cost per ton for nickel at Mambare in PNG was, we suggest, very low: our associate Red Rock’s discovery cost per oz for gold in Kenya is demonstrably very low. While not the only metric, for an exploration company with a long-term focus we think this a very important measure of success that ultimately should be reflected in value and market rating. How ironic it is that in the last few days we have been able, we hope and believe, to add considerable shareholder value to RGM on assets where there is no resource, nothing has yet been discovered, and our exploration has not yet begun. If we could repeat this once or twice more, we could say ‘we finf the harder we work, the luckier we get’, but on a single occurrence we shall remain remain modest and thank God for some good luck.

Please feel free to contact us with your questions.

Andrew



Ram Resources THE DEAL


http://www.ramresources.com.au/_content/documents/940.pdf

Indonesian Sample Arrives in Australia – Stage 1 Commissioning on Track for January Start

http://www.directnickel.com/indonesian-sample-arrives-in-australia-stage-1-commissioning-on-track-for-january-start/

RNS pilot plant commissioned.