Companies: RGM   

Copper and nickel play Regency Mines expects to start drilling Papua New Guinea’s Mambare nickel and cobalt project next month.

The AIM-quoted company, steered by former City analyst Andrew Bell, intends to begin an initial 10,000-metre drilling programme at Mambare in the Oro Province of Papua New Guinea (PNG) in mid-August. London-based Regency says the programme is likely to take about 120 days and will help towards establishing a credible resource estimate for that part of its PNG licence.

Backed by small company supporter Bruce Rowan and with Bell holding the biggest single stake, shares in Regency, in which director Kenneth Watson has increased his stake to 4.8 per cent by exercising options, stand at a depressed 2.38p,valuing the company at £5.1 million.

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Regency Mines	AIM	£1.35m	0.55p	-0.05p
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Other company articles:
Regency prepares to drill			10/07/2008
Regency raises £600,000			12/04/2007
Rowan backs Bell ventures			03/08/2006
Floats chime for Bell			03/08/2005
Regency arm plans AIM float			12/04/2005