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Nickelore Limited (ASX:NIO) Invites Shareholders To Company's Share Purchase Plan
Perth, Apr 10, 2008 (ABN Newswire) - Emerging nickel producer Nickelore Limited (ASX:NIO) is pleased to announce an invitation to shareholders to participate in the Company's Share Purchase Plan.
The plan entitles eligible shareholders of the Company to purchase fully paid ordinary Nickelore shares worth up to $5,000 at a price of 7 cents per share, free from all brokerage and commission.
Nickelore has made solid progress in the implementation of its strategy to revitalize the Company and become an emerging nickel company. In the past six months, the Company successfully completed the Heap Leach Scoping Study for the Canegrass Nickel Cobalt Project ahead of schedule. Nickelore has assembled a strong professional team to lead the development of the project.
Funds raised from the Share Purchase Plan will be used for working capital and pre-feasibility phase of the project.
The plan will open on 22 April 2008 for a period of 14 days. Shareholders registered as at the close of business on 11 April 2008 will be eligible to participate in the offer.
Share Purchase Plan documentation will be mailed a few days after the record date.
About Nickelore Limited
Nickelore Limited is a Perth-based nickel company listed on Australian Securities Exchange (ASX Code: NIO). The Company’s primary focus is on exploring, realising and expanding the economic potential of the Canegrass, Mount Pleasant, Lake Marmion, Goongarrie East and Bardoc projects in Western Australia’s Eastern Goldfields. Nickelore acquired Mineral Rights to mine and extract 140,000 tonnes of nickel metal in laterite nickel products from the Canegrass Nickel Cobalt Project. The company has commenced a scoping study into a Heap Leach nickel extraction plant. Members of the Nickelore Board and management team have proven records in mineral exploration, project development and project financing.
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