Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Zambezi Nickel Ltd (LMY)

  Print      Mail a friend

Wednesday 20 September, 2006

Zambezi Nickel Ltd


Zambezi Nickel Ltd
20 September 2006

20 September 2006

                     Zambezi acquires Mavita Nickel Project

  • Mavita Nickel Project in Mozambique acquired from BHP Billiton

  • Mitaba Nickel Project diamond drill programme completed 12 August 2006

  • High priority targets defined at Mitaba from ground IP results

  • Results of first-priority holes from Mitaba

Zambezi Nickel Limited ('Zambezi' or the 'Company') (AIM Code: ZNI), the
AIM-quoted African nickel exploration and development company, today announces
that a definitive contract has been signed with BHP Billiton Plc ('BHP 
Billiton') for the acquisition of the Mavita Nickel Project in Mozambique from 
BHP Billiton by Zambezi.

Mavita Project transaction

The Mavita Project comprises two prospecting licences, LPP 1045 and LPP 1046,
located in the Manica province of central western Mozambique. Mozambique borders
Zambia, where the Company currently operates. Mavita is well served by the
regional road network, is adjacent to the Cahora Bassa power line, is 56km from
the provincial airport at Chimoio and is 179km from the deep-water port at
Beira. The geological setting of the Mavita Project area places it within the
eastward extension of the Archaean Zimbabwean Craton. The Mavita Project
includes several areas of significant aeromagnetic and stream sediment
geochemical nickel anomalies, coincident with mapped ultramafic lithologies.
None of these anomalies have been drill tested to date.

The basic terms of the agreement with BHP Billiton are:

  • BHP Billiton will transfer the Mavita title to Zambezi and Zambezi will be
    the 100% owner and operator of the Mavita Project

  • Zambezi has agreed to spend a minimum of US$150,000 on the project over
    the next 18 months

  • BHP Billiton has the option to clawback 100% of the project anytime after
    the threshold of 200,000 tons of contained nickel equivalent metal at JORC
    inferred level is defined

  • BHP Billiton will reimburse Zambezi at 2.5 times all past expenditures
    upon clawback and pay Zambezi a 3% net smelter return during the life of the

  • BHP Billiton will earn a 3% net smelter return during the life of the mine
    if it does not exercise its option to clawback

  • BHP Billiton retains first right to be appointed as marketing agent and to
    purchase at commercial terms base and precious metals products from the
    project. In case of dispute over off-take commercial terms, BHP Billiton has
    the first right to match formal market offer

BHP Billiton is the world's largest diversified natural resources company, with
some 37,000 employees across around 100 operations in approximately 25
countries. Its operations encompass a broad range of commodities including
aluminium, energy coal, metallurgical coal, copper, manganese, iron ore,
uranium, nickel, diamonds, silver and titanium minerals, oil, gas, and liquefied
natural gas.

Commenting on the announcement, Paul Rankine, CEO of Zambezi said, 'Today's
Mavita deal brings additional value to the Company's portfolio at no immediate
cost. Shareholders should note that the Company is also actively examining other
opportunities for possible acquisitions of nickel prospects in the SADC region.'

Mitaba Project update

Zambezi completed a substantial diamond-core drilling programme on 12 August
2006 that was designed to test targets at the Mitaba Project. The programme
consisted of 20 holes for a total of 5,138 metres, of which 3,177 metres were
first-priority holes. Besides fulfilling the main sampling objective, the drill
cores will also provide material for metallurgical testwork, including
processing and recovery characteristics of any significant mineralisation
intersected. Results received from first-priority holes are as follows:

    Drillhole               Coordinates                 From             To              Interval              Ni
                                                        (m)             (m)                Width               %
                          N               E
MHD001                    8,266,264        715,453          10.40            47.00                 36.60           0.25
                                                            55.50            81.55                 26.05           0.27
                                                            87.00           145.00                 58.00           0.26

MHD002                    8,266,388        715,763          21.00            70.00                 49.00           0.27
                                                           101.70           184.40                 82.70           0.29

MHD003                    8,266,757        716,502         175.80           214.00                 38.20           0.24

MHD004                    8,266,634        716,541           1.00            30.60                 29.60           0.25
                                                            56.30            86.50                 30.20           0.23

MHD005                    8,266,642        716,698          99.60           132.40                 32.80           0.30
                                                           160.00           183.00                 23.00           0.29

MHD006                    8,266,639        716,868          24.60            62.00                 37.40           0.27
                                                            83.00           125.85                 42.85           0.31

MWD001                    8,264,520        710,411         147.00           227.00                 80.00           0.22
                                                           267.00           327.00                 60.00           0.22

MWD003                    8,264,716        710,848         123.00           153.30                 30.30           0.23
                                                           162.00           192.00                 30.00           0.21

Coordinate system Arc50 UTM Zone 35S. Holes oriented at -55 degrees to an
azimuth of 351 degrees magnetic. Mineralized intervals calculated on basis of
lower cut-off of 0.2% Ni, minimum mineralized interval of 0.5m, maximum internal
waste of 1m, only mineralized widths greater than 25 metres reported here.

During the first-priority drilling programme, a ground IP survey of the Mitaba
Project area was carried out to test for the presence of disseminated sulphide
bodies. Significant anomalies were detected at both Mitaba Hill and Mitaba West,
and in an area west of Mitaba West termed the Mitaba West Extension. The
second-priority holes have targeted these anomalies. The assay results of this
drilling programme are expected by the end of September 2006.

During the course of the second-priority diamond-drilling programme, geological
evidence was observed that has lead to a reinterpretation of the geological
model for the Mitaba project, from that of a lava-flow succession to that of a
layered sill.

The presence of mafic bodies within the dominantly ultramafic body, apparently
distributed regularly throughout the sequence, was previously interpreted as
reflecting the presence of more mafic tops to the ultramafic flows. The
recognition in drill core of contact metamorphic reactions adjacent to the
boundaries of these mafic bodies however, confirms that they are intrusive
dykes, a fact not apparent in surface outcrops due to preferential erosion of
these soft zones.

Furthermore, detailed geological logging has led to the recognition of several
pyroxene-rich layers within the ultramafic body, suggesting that the body was
originally a layered sill. The Mitaba body thus represents a large layered,
mainly ultramafic intrusive body that has been intruded by a later mafic dyke
swarm. This has implications for the potential for the presence of platinum
group element (PGE) mineralisation, which is currently being assessed.

For more information, please contact:

Paul Rankine                                   Laurence Read/Abigail Singleton

Zambezi Nickel Limited                         Conduit PR

Tel:       +44 20 7193 3728                    Tel:       +44 20 7429 6666

Mob:       +44 795 280 7110                    Mob:       +44 797 995 5923

A full report including figures is available on the Zambezi website at

The information in this report that relates to Exploration Results is based on
information compiled by Mr Noel Sheppy, who is a Member of The Australasian
Institute of Mining and Metallurgy. Mr Sheppy is employed by Ripley Resources
Pty Limited. Mr Sheppy has sufficient experience which is relevant to the style
of mineralisation and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Sheppy
consents to the inclusion in the report of the matters based on his information
in the form and context in which it appears.


  • African focused pure nickel exploration/development company

  • Admitted to AIM in October 2005, raising £1.6 million

  • Exploration rights over 3 prospects on 2 project areas (Mitaba & Paulwi)
    in Zambia

  • Strategy to aggressively explore and evaluate currently identified

  • Strong position from which to evaluate and possibly acquire nickel
    prospects in the region

  • Exploiting shared cost/infrastructure opportunities with AIM quoted
    Zambezi Resources

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                   

a d v e r t i s e m e n t