Jean Nickel Industry cooperates with Canadian companies to explore nickel mine

Jean Nickel (600432) announced that the company and the Canadian Goldbrook Ventures Inc. cooperation in the exploration of nickel resources for the development and Reform Commission of the People's Republic of China (foreign Investment [2009]1268) approved the document. Jean Nickel is to invest 248 million yuan in cooperation with Canadian Goldbrook Corporation to explore and develop 891,000 acres of land owned by the Quebec, Prov. Raglan Mining area in Canada.　　Jean nickel industry related Personage said, Raglan Mining area copper, nickel resources enrichment, for the company's sustainable development increased the possibility of providing resource reserves, conducive to the implementation of the company's "Global resources" strategy. In addition, the announcement said that the company invested in the Canadian Liberty Mines Inc., the equity transfer has been completed, the company became Liberty Mines Inc., a controlling shareholder with its 85,732,763 common shares (51% of its common stock) and 186,　　994,510 Convertible Preferred Stock. This April 11, the Jean Nickel Industry Bulletin disclosed that the company intends to not more than 10 specific investors targeted to add more than 60 million shares, raise capital of 1.1 billion yuan, of which 165 million yuan for investment in Canada Liberty Company related shares. Under the warrants agreement, the company will hold 51% of Liberty's common equity stake when the shares are completed. It is understood that liberty company three nickel mine project resource reserves of 2.972 million tons, including nickel 47,000 tons, the average nickel grade 1.57%, copper 2.2 tons, project resource development conditions are good, beneficiation process simple, product quality to meet the company smelting requirements, economic benefits are obvious. Liberty Company for the production of nickel concentrates have a preemptive right to enhance the company's nickel metal raw materials guarantee and profitability.