Regency Mines (LON:RGM) - Maiden resource estimate
Apr 26th 2012 - Edison Investment Research today published a report on Regency Mines (RGM.L, LSE:RGM, LON:RGM) entitled "Maiden Resource Estimate". In summary, the report says:
On 25 April Regency released its maiden JORC compliant resource estimate for the 50% owned Mambare Nickel Laterite Project in Papua New Guinea. The announced indicated and inferred resource of 95m tonnes of ore grading 0.96% Ni and 0.08% cobalt contains 912,595t Ni was based on 3,790m of drilling over as little as 3% of the target plateau. Given the landholding left to be tested, we believe there is significant potential for upside in future resource estimates; historic non-JORC compliant resources point to a potential 400Mt resource that, at current grades, would equate to 3.8Mt of contained nickel.
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