ews for 'OMG' - ($300m new development tipped for Honeymoon Well)
Oct 13, 2004 (The West Australian - ABIX via COMTEX) -- Australia's MPI Mines and US-based OM Group could be close to approving a $A300 million project in Western Australia. It seems likely that the venture would include the development of the Honeymoon Well nickel deposit in Wiluna and an upgrade of the Cawse laterite plant near Kalgoorlie. There is also speculation that LionOre Mining wants MPI Mines. Meanwhile, WMC Resources says it will increase nickel metal production in 2005 to 66,000 tonnes from 62,000 tonnes in original estimates.
Neat as MPI is doing everything right but since OMG is a 20% partner for the nickel side of MPI, I am sure Mooney has a say in that. Like I have said many times in the past, once these filings get filed, BOOM BOOM in a good way with a possible merge, SnP upgrade, etc. LionOre, I have mentioned before and need to see if I can find something else.
Damn, can you imagine if the filings came out, the forward guidence was great, and oh by the way-we are merging with ?????? The same day and no options available. What a rush!