Global Nickel cancels NZ joint ventures

Minerals explorer Global Nickel Investments has terminated its joint venture projects in New Zealand to focus on developing its Laverton projects in Western Australia, which are currently being drill tested.

The withdrawal from the Longwoods and Round Hill projects has been mutually agreed with joint venture partners.

Global Nickel Investments managing director, Benjamin Cooper said the company's Mt Cornell, Jutson Rocks and Mt Venn projects in Laverton are the major focus.

"We have commenced drilling the magnetic targets, and the project is taking shape nicely," he said in a statement.

Full announcement below:

TERMINATION OF NEW ZEALAND PROJECTS
The Directors advise that the company has terminated its joint venture projects in New Zealand.

The withdrawal from the Longwoods and Round Hill projects has been mutually agreed with joint venture partners.

Global Nickel Investments NL is solely focussed on developing its Laverton projects in Western Australia, which are currently being drill tested.

Managing Director, Benjamin Cooper states that "the Mt Cornell, Jutson Rocks and Mt Venn projects in Laverton are the major focus for GNI. We have commenced drilling the magnetic targets, and the project is taking shape nicely".

The Company looks forward to updating the market, as results become available.