Hi fellow jabas,I was not aware that jml had agreed on a jv with...

Hi fellow jabas,

I was not aware that jml had agreed on a jv with igo only in june of this year. I didnt see any report or there was no report in regards to that, interesting. Igo is a quality stock. Jml gets to keep 30% of the nickel rights and all other base metals, which i thought was very interesting. Igo will need to spend 3 mill over 6 years which is ideal for jml. ( read below)

On a different note we are due for our "stage two" reserve upgrade this qtr, should be very interesting times coming up. Also, the hunt has began for a new discovery. As usual with this mob, heads down bums up, not to many announcments. They tend to express themselves via qtrly reports these days.



Jaguar Nickel Sulphide JV
(IGO Earning 70% Nickel Rights)

IGO has entered into a JV with Jabiru Metals Limited whereby IGO may earn a 70% interest in the nickel rights by expenditure of $3m within 6 years including a minimum of $220,000 within the first 12 months.

The JV area covers 188km2 of tenure 50km from Leonora located over part of the southern portion of the Agnew-Wiluna Greenstone Belt, one of the most highly endowed komatiitic nickel-sulphide belts in the world. The project is well situated with regard to infrastructure and access being near to a gas pipeline and having bitumen access.

Past exploration in the area has recently been focussed on VMS deposits, with relatively limited nickel sulphide exploration.

The project area includes 3 main ultramafic units considered prospective for massive nickel-copper sulphide deposits similar in style to Cosmos and the nearby Sinclair deposit.

Initial exploration, comprising a surface geochemical sampling and Moving loop EM surveys will commence in Q3 2010.