Brisbane, Dec 8, 2006 (ABN Newswire) - Brisbane-based Discovery Metals Limited (ASX: DML) today announced that it had successfully listed on the Botswana Stock Exchange ("BSE") in a move that places increased focus on its Maun Copper and Dikoloti Nickel Projects in the north of Botswana.
Discovery has also received an updated evaluation of the project economics carried out by Snowden Mining Industry Consultants....A discounted cash flow analysis using the new optimised open pit and underground mine design determined that, dependent upon toll treatment terms, the Dikoloti deposit has the potential to produce a Net Present Value ("NPV") of AUD$54 million (previously AUS$24 million). This significant increase in the potential NPV is due largely to the higher forecasted nickel metal prices.

PLEASE NOTE: THE FORMER DISCOVERY NICKEL LIMITED CHANGED ITS NAME AT ITS AGM ON 29 NOVEMBER 2006 TO DISCOVERY METALS LIMITED. THE COMPANY'S NEW ASX CODE IS DML

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