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Rusina – Part of the future of Asian nickel

With the ongoing evolvement of heap leach trials at its flagship Acoje nickel exploration and development project in the Philippines, Perth-based Rusina Mining N.L. is on target to become a significant nickel laterite producer by the end of 2010, serving the major steel markets of Asia.

Acoje, 250 kilometres north of Manila on the island of Luzon, has a current JORC-compliant Inferred and Indicated resource of 50.1 million tonnes grading 1.09% nickel at a cut-off grade of 0.08% Ni.

The estimate has been generated in work by Rusina since 2004 to resurrect what was once South East Asia’s largest metallurgical chromite mine into a new, modern-day 24,500 tonne per annum nickel mining operation in partnership with European Nickel plc (earning 40% interest) and Philippine-based Montemina Resource Corporation, which is acquiring a 20% project stake.

The project gains at Acoje are being reflected in increasing equity market support for the Company with a number of international institutions now appearing on Rusina’s share register.

Within a market environment now boasting improved and sustained nickel prices and demand, particularly from Chinese steelmakers, Acoje stands on the brink of becoming the next low-cost, high-tonnage nickel producer in Asia.

Stock Pricing

Rusina is listed on the Australian Securities Exchange (code: ‘RML’) and London’s AIM market (code: ‘RMLA’). To view the current Share Price on the ASX, please click here.

Pre-Feasibility Study Results

A copy of the Executive Summary of the Preliminary Feasibility Study of the Acoje Laterite Project is available here (7mb PDF).

Website last updated: 04/03/10

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