It's been a long wait but those who like nickel should look at this lateritic nickel play just approved in the Phillipines. Asfar as I know, the offtake agreement from BHP isstill in place.
GRANT OF MPSA APPLICATION The Company advises that it has received confirmation from Sibuyan Nickel Properties Development Corporation (SNPDC) and its Joint Venture partner in the Philippines that the long]awaited Mineral Processing Sharing Agreement (MPSA) Application over the Romblon Nickel project in the Philippines has been granted. The grant has been made to the Applicant Altai Resources Inc. (Altai). The agreement between Altai and SNBDC provides for the transfer of the MPSA from Altai to SNBDC within three (3) months of grant and the payment to Altai of the purchase consideration. The Company, SNBDC and Altai are co]operating in expediting the transfer process with a view to early settlement. ] Ends ] For further information: Dr John Hills Mr John Palermo Director Chairman Telephone: +61 8 9242 1166 Telephone: +61 8 9242 1166 Facsimile: +61 8 9242 5903 Facsimile: +61 8 9242 5903 E]mail: [email protected] E]mail: [email protected]
PEL Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
