RSS UpdatesCompany Information for Regency Mines Plc
Company stock charts - 6 Month chart
 AIM; RGM
View full financial data |
Company Statement
Regency Mines PLC (AIM: RGM; Frankfurt: RM4) is quoted on the Alternative Investment Market of the London Stock Exchange Ltd in London and on the Frankfurt Exchange. The company is focused on exploring areas of copper and nickel potential in Western Australia, Queensland, and Papua New Guinea.
It seeks to add shareholder value by systematic exploration and, where appropriate, development of these assets, and by joint venture, acquisition, and disposal.
Since 2006 the company has operated the Mambare Plateau lateritic nickel project in Papua New Guinea, now 100% owned. The Mambare Plateau, the central part of which is 20km by 7km, is extensively mineralised. In 2008, the company completed sampling results which have confirmed the presence of a substantial nickel-cobalt deposit. On the 19th of August 2009, Regency announced its intention to form a joint venture with Direct Nickel Proprietary Limited, which has developed atmospheric tank leaching technology with potential to reduce the capital and operating costs of nickel and cobalt extraction from laterites. The two companies intend to create a new company which will raise money for further exploration and a pilot plant.
Regency retains and has recently added to, substantial ground holdings in the Lake Johnston greenstone belt in Western Australia. Regency's interests now extend over more than half the known strike length of the belt, which has been relatively under-explored. Recent gravity and magnetic work and reinterpretation of old data have identified nuberous drill targets.
Current Operations
Mambare
Nickel
- 584 sq km license parts of which explored since 1960s
- Central 20 km by 6 km plateau dwarfs better-known 7 by 2 km Wowo plateau
- Better apparent grade and topography than Ramu project under development
- Linked to Oro Bay by gravel and sealed road
- 1960-71, 240 auger holes, 56 pits, 1 costean
- 1999 Anaconda estimates in 158 sq km section 630mt at 0.78% and
- 200mt at 1.01%, in saprolitic layer
Bundarra
Copper and Gold
The Bundarra project consists of a granted Exploration Permit for Minerals (EPM 11613) that covers an area of approximately 200km2. The project lies 120km southwest of Mackay in the Bowen Basin of central Queensland. A rail line between the Bowen Basin coalfield and the coast passes less than 10km to the north of the tenement. Access from Mackay is by the Sarina/Marlborough Road, then via the Peak Downs Highway and Fitzroy Road to Bundarra Homestead. A network of formed gravel roads provides good access within the tenement.
Mt Stone
Gold
The Mt Stone project comprises a single Exploration Permit application (EPM14581) located 230km west of Mackay. The tenement covers approximately 200km2 of volcanic and sedimentary rocks of the northern Drummond Basin. These rocks have been intruded by granitoid bodies and porphyries of Carboniferous age. The project is prospective for epithermal gold deposits such as those at the Pajingo and Wirralie gold mines, located 50km northwest and 40km southeast respectively.
Access from Mackay to the Mt Stone project area is by sealed and formed roads via Glenden, Mt Coolon, and Pyramid Homestead to Mt McConnell. Local roads and station tracks provide reasonable 4WD access throughout the project area, except following heavy rains.
Previous exploration has outlined extensive gold anomalism within the project area. However, these anomalies have had little follow-up despite showing similar signatures to known epithermal gold mineralisation. Regency proposes to target the more promising areas with early drilling programs.
Mt Gordon and Mt Tay
Nickel and Gold
The Mt Gordon and Tay project areas comprise two contiguous exploration licences of E63/861 and E63/876 that cover a total of 129km2 in the south of the Lake Johnston greenstone belt. The tenements are prospective for nickel sulphides and also have the potential to host gold mineralisation.
Mt Gordon and Lake Tay areas cover a north to northwest striking greenstone sequence of ultramafic, mafic, sedimentary and felsic volcanic rocks of the southern Lake Johnston greenstone belt. A layered gabbro known as the Medcalf Sill intrudes mafic and ultramafic rocks along the south-eastern parts of the belt with sporadic outcrops in the northern parts of the Mt Gordon project area.The western and eastern boundaries of the greenstone sequence are marked by strike parallel shears that largely define the contact with the surrounding granitoid terrain. Regolith in the region is dominated by aeolian sand, which based on RAB drilling data in adjacent tenements, overlies transported clays up to 10m thick.
Geographical Spread
UK
Australia
Papua New Guinea
Board of Directors and Key Management
| Andrew Bell | Chairman |
| Julian Lee | Non-executive Director |
| John Watkins | Non-executive Director |
| Edmund Bugnosen | Director |
Company Address115 Eastbourne Mews
|
Additional Address/Key ContactRegistered Office: |
CapitalMarket Cap ￡6.7 million (@1.7p)
|
Year End30th June |
Nominated BrokersSimple Investments | Nominated AdvisorsBlomfield Corporate Finance Limited |
Major Shareholders
| Bellmin Ltd | 19.8% |
| Starvset Plc | 12.05% |
| Jim Nominees Ltd | 4.06% |
| Sunvest Corporation Ltd | 4% |
| Public | 54.53% |
Related News
11/02/10 - Regency Mines Contemplates Funding Options For Its Nickel Joint Venture, And Commences Drilling For Gold In The Yilgarn09/11/09 - Heap Leaching Is Not The Only Game In Town For Nickel Laterites, Says Regency, As It Plans A New Aim-Listed Spin-Off
11/08/09 - Regency Mines Builds Momentum As Its Working Knowledge Of The Mambare Nickel Laterite Project Increases By The Day
03/06/09 - Regency Mines Rides Out The Storms In The Metals Markets With An Ever Growing Portfolio Of Gold And Base Metals Projects
05/02/09 - Commodity Watch Radio: Andrew Bell of Regency Mining and Red Rock Resources
19/09/08 - Andrew Bell’s Empire Remains Intact, As Red Rock Consolidates In The Yilgarn, And Regency Drills Up Nickel In PNG
Most Recent Statement
05/02/10 - Issue of Equity29/01/10 - Option Exercise, Director Dealing
29/01/10 - Total Voting Rights
22/01/10 - Issue of Equity
09/12/09 - Update re Lake Johnstone and JV
06/11/09 - Joint Venture Agreement