News

March 07, 2007

Rusina Mining Comes Up With A Direct Shipping Deal Which Will Transform Its Future

Once AIM and ASX listed Rusina Mining had finally got rid of Vladimir Nikolenko and his cohorts from being able to exert any influence on the company it has been a case of onwards and upwards. Managing director Rob Gregory’s job was not under threat last summer, but an EGM aimed at turning the board upside down and changing control hardly provides an ideal background for a man with ambitions to move the Acoje nickel project on Luzon island in the Philippines towards production. In the end shareholders turned out in force, after a bit of whipping-in from Richard Lockwood of City Natural Resources, and Nikolenko was last seen sitting over a large vodka with tears in his eyes.

RC Drilling at Acoje

At the time Rob Gregory said, “We now  have the mandate; we have a relevant exploration and development schedule in place; and our priority focus is now rapidly proving up the nickel potential of Acoje which we see as the flagship mineralisation within the project area. The resumption of chromite mining on site next year is a healthy cash flow side line and will assist to self fund the major exploration drive to evolve a significant nickel resource to mine ready status by the end of 2008...