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ENK PLC

ASX: ENK

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Description

ENK (AIM/PLUS/ASX: ENK) is an emerging mid-tier nickel laterite producer focused on growth with assets in Turkey, the Philippines and Albania. ENK has developed an innovative, low cost, environmentally sensitive heap leach technology, which offers a competitive edge over conventional nickel laterite processing.

In June 2010 ENK completed a successful merger with Rusina Mining to consolidate a global development pipeline that comprises more than 1.3 million tonnes of nickel in reserves and resources.

The Company’s key competitive advantage over its peers is its proven, simple, environmentally sensitive heap leaching process which produces a mixed hydroxide intermediate product (‘MHP’) at lower capital and operating costs than conventional forms of nickel laterite processing technologies.

In July 2010 ENK entered into a strategic partnership with Constantia Resources, a member of the Hunter Dickinson group. Hunter Dickinson has an exceptional track record in advancing mining projects from development through construction to production. Their expertise will complement ENK’s management team and technological know-how.

Acoje & Zambales, Philippines

The Acoje and Zambales deposits are based on Luzon Island in the Philippines. The deposits have a combined JORC resource of 840,000 contained tonnes of nickel. The Company is fast tracking a Definitive Feasibility Study (DFS). The proposed mining operation at Acoje will have a significant positive economic impact on the local and regional community.

Çaldag, Turkey

The Çaldag mine in western Turkey is located near the deep port of Izmir. The project has been designed to be a low cost, open pit operation, which will produce 20,000tpa of nickel and 1,000tpa of cobalt in a mixed hydroxide product (MHP) over a 14 year life of mine. This will be sold for processing into nickel and cobalt metal. The deposit’s JORC proven reserves are 33.2Mt at 1.13%Ni (375,160t contained Ni).

Berong, Philippines

The Berong mine is located on Palawan Island in the Philippines and majority owned by Toledo Mining (AIM: TMC). ENK has a 23.7% beneficial interest in Berong Nickel Corporation (BNC) and a 7.7% interest in Toledo Mining. Berong’s current JORC resource (compiled June 2007) is 9.92Mt at 1.55% nickel and represents only a small percentage of the tenement area. There is strong potential to significantly increase this and a drilling programme is underway to prove up a JORC resource of around 30Mt. A total JORC resource of 40Mt is considered sufficient to support a 20,000tpa nickel processing operation.

Devolli/Koko JV, Albania

ENK is in a joint venture with the privately owned Balkan Resources to jointly develop Balkan’s Kokogllave (“Koko”) and ENK’s contiguous Devolli nickel laterite deposits in Albania. The deposits are located in south-eastern Albania, close to the Greek border. The Devolli nickel laterite deposit has a JORC resource of 427,000 tonnes of contained nickel (35.6 million tonnes at 1.20% nickel). Balkan has completed a NI 43-101 technical report on its Koko nickel laterite deposit and it is intended to develop both deposits as one single mining operation. The Koko tenement has a historic resource estimate, which is neither JORC nor 43-101 compliant, of approximately 30 million tons at a grade of approximately 1.2% nickel.

Mine For

nickel, cobalt

Location of operation(s)

Philippines, Turkey, Albania

Address

Level 1, 83 Havelock St
WEST PERTH, WA, Australia

Phone

(61 8) 9226 1111

Email

Website


Last Updated

14/09/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.