Ann: Capital Raising, page-3

Forgot to mention that its probably worth noting that the borker behind this small placement, BW Equities, is the same broker that backed Clean Teq (CLQ) to the hilt. They expect, with the new management team, that lightning will strike twice.

Email from BW today:

Jervois Mining Projects
NiCo Young Nickel Cobalt Project
Jervois initiated exploration north-west of Young in New South Wales in the early 1990s discovering vast resources of nickel, cobalt, scandium and iron. This was a new discovery by Jervois and was totally concealed by varying depths of alluvium. Airborne magnetics, followed by ground magnetics and occasional fresh serpentine outcrop provided the vital clues that led to the discovery.
There has been considerable interest in these types of deposits in NSW over the past six months being generated by Robert Friedland and the company he is associated with, CleanTeq. Jervois has been denied any uplift from these promotions because the market is generally unaware of its NiCo Young holding.
The NiCo Young exploration licenses, held by Jervois, contain published inferred resources of 83 million tonnes grading 0.79 per cent nickel and 0.06 per cent cobalt. Intersections of up to 1.6 percent nickel and 0.2 per cent cobalt have been made. Geo Stat Services has been retained to update the resource estimate, to include recent drilling.
The Young nickel/cobalt resource is lower in nickel grade than many tropical laterites overseas. Conversely the cobalt content is above average. The Young resource does have the advantage, compared with other Australian laterites, of the best possible location with regard to existing infrastructure.
Jervois continues to evaluate and test new processing routes for the recovery of cobalt, scandium and nickel from ore samples from the Young and Nyngan Regions.
This work has been carried out in conjunction with Universities and the CSIRO. Small scale tests have been encouraging, but the next phase will involve the construction of a pilot plant and introducing a major engineering group to verify results.
The Jervois Board expects to be in a position to release updated resources and an outline of the plan moving forward by early September.