Clarification: Lounge Lizard Nickel Deposit

- October 13th, 2011

Kagara Ltd. (ASX:KZL) announced it is conducting a sale of the Lounge Lizard deposit adjacent to Western Areas’ (TSE:WSA,ASX:WSA) Flying Fox mine.

Kagara Ltd. (ASX:KZL) announced it is conducting a sale of the Lounge Lizard deposit adjacent to Western Areas’ (TSE:WSA,ASX:WSA) Flying Fox mine.

As quoted in the press release,

Kagara has announced it has appointed Goldman Sachs and Partners Australia Pty Ltd to conduct a sale process for its Forrestania nickel assets, including the nickel rights to Lounge Lizard.

Western Areas has noted ongoing media speculation that Western Areas is likely to bid for the nickel rights to Lounge Lizard. Media articles have included a number of statements speculating on the potential value of a transaction for Lounge Lizard, if this was to occur.

Click here to read the full Western Areas (TSE:WSA,ASX:WSA) press release.  

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