Increased Shareholding

RNS Number : 0039E

Regency Mines PLC

22 September 2008

 



REGENCY MINES PLC

Increased Shareholding

Dated: 22 September 2008

Regency Mines plc ('Regency' or the 'Company'), the mining exploration and mineral investment company with interests in copper and nickel in Western Australia, Queensland, and Papua New Guinea, has increased its shareholding in the Mambare nickel-cobalt project in Papua New Guinea from 75% to 100%.

Regency has purchased the outstanding 25% of the shares in its locally incorporated subsidiary, Canopus No. 83 Ltd, the owner of the Mambare project, from a local vendor for a consideration of Kina 350,000 (approximately £75,000) payable in two tranches, and the cancellation of a debt of £115,365.45 in outstanding debt owed by the vendor.

Drilling continues at Mambare with seven rigs now in operation.

Enquiries:

Regency Mines plc

Andrew Bell, Chairman                                                    0207 402 4580 or 07766 474849

Blomfield Corporate Finance Ltd, Nominated Adviser

John Simpson / Ben Jeynes                                              020 7489 4500

Lothbury Financial Limited, Public Relations

Ron Marshman / John Greenhalgh                                   020 7011 9411

Updates on the Company's activities are regularly posted on its website, www.regency-mines.com.

 

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