Regency Mines' joint venture partner progressing with nickel extraction process

Direct Nickel (DNi), the joint venture partner of AIM-listed mining exploration company Regency Mines is progressing in its nickel extraction process test plant in Australia, an update from Regency has shown.

Direct Nickel (DNi), the joint venture partner of AIM-listed mining exploration company Regency Mines is progressing in its nickel extraction process test plant in Australia, an update from Regency has shown.

Regency has a holding of approximately 7.5% of the shares in DNi, its joint venture partner in the Mambare nickel-cobalt laterite project in Oro Province, Papua New Guinea, a project which has a license for the DNi 'Process'.

The DNi Process is a hydrometallurgical process for the treatment of nickel laterites.

Regency reported that DNi had achieved the hot commissioning of Stage One of its nickel extraction process Test Plant in Perth, and that the first three months of operations had been successful with intermediate product circuits achieving design metallurgical performance.

The company added that in the latter stage of hot commissioning, the nitric acid recovery recycling circuit had been brought into operation.

Regency said that DNi regarded the performance as an indication that demonstration of the DNi Process on a continuous basis would be achieved this year as planned.

Regency CEO: DNi progress 'looking very promising'Andrew Bell, Chairman of Regency, commented: "The news that the first circuits to be tested are achieving design metallurgical performance is important, and as the acid recycling circuit now being tested has already undergone independent testing by Aker Solutions at their Charlotte, North Carolina facility the stage one progress is looking very promising."

He added: "We invested in and allied with this technology at a time when few others believed in it, and although the path has been a long one recent progress suggests that decision was correct. I believe this has the potential to be a disruptive technology for the nickel industry."

Regency Mines' share price was down 4.69% to 0.30p at 15:04 on Wednesday.

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
James Ferguson: How bad data is driving fear of a second wave of Covid-19
UK Economy

James Ferguson: How bad data is driving fear of a second wave of Covid-19

Merryn and John talk to MoneyWeek regular James Ferguson about the rise in infections in coronavirus and what the data is really telling us.
17 Sep 2020