AN Australian Gold explorer, METMINCO Limited says it will acquire majority stake in nickel and bauxite projects in Solomon Islands.

METMINCO Ltd has told London-based Alliance News that it is intending to buy the entire share capital of Sunshine Minerals, which owns an 80-percent stake in each of the Jejevo Nickel Project in Isabel Province and the Tausere Bauxite Prospect on South Choiseul in Choiseul province.

The Australian Gold explorer, METMINCO Ltd says it will give Sunshine AUD1.5 million, about GBP 825, 165, and another AUD1.5 million in the form of 250.0 million METMINCO shares at a price of AUD0.006.

METMINCO Ltd says it will issue Sunshine a further 250.0 million shares when it generates what it calls a JORC compliant resource estimate for the Jejevo Nickel Project, of at least 125,000 tonnes of contained nickel metal at a cut-off grade of not less than 0.7 percent nickel.

It says it will then issue Sunshine a final 500.0 million shares upon receipt of a mining licence for the Jejevo Nickel Project from the Ministry of Mines, Energy and Rural Electrification in Honiara.

But METMINCO Ltd says the deal is conditional on it completing, an AUD 3.0 million raising and usual corporate due diligence.

The company says it has already received firm commitments for placement of 135.0 million shares at a price of AUD0.4 per share to raise AUD540,000.

The miner says it will also undertake a pro-rata renounceable rights issue to raise up to AUD2.5 million, which is expected to be underwritten by its lead manager, Patersons Securities Limited.

Meanwhile, METMINCO Ltd says it intends to cancel its London listing as only nine percent of the trading in its shares took place in London over the 12 months and currently less than 6-percent of total issued shares are listed in AIM.

It says however, it will continue to trade on the Australian Securities Exchange after the acquisition of Jejevo Nickel Project.

METMINCO Executive Chairman, Kevin Wilson says, “The acquisition of the Jejevo Nickel Project gives our company exposer to nickel at a time when the rising battery manufacture is expected to accelerate demand for the metal. We will start advancing Jejevo as soon as the acquisition completes.

“Together with our Quinchia Gold Project in Colombia, South America, we now have two advanced projects that we believe offer near term development potential.”

Meanwhile, Gunsynd Executive Chairman, Hamish Harris says, “The board is pleased to have conditional on completion, been able to once again swap its exposer from a private company to that of a listed company whilst at the same time enabling Sunshine to access funding and move the project towards mining.

“The transaction also removes the need for any potential future funding by Gunsynd. The company however, maintains its exposer to the upside potential of the project and now has the ability to realize investment at an appropriate time.”

Shares in Gunsynd were up on Wednesday September 18 at 0.025 pence each. METMINCO shares were untraded but last closed at 0.35p each.

Meanwhile, the Directors of Sunshine commend the Minister of Mines, Energy and Rural Electrification, Bradley Tovosia for his foresight on the development of the Jejevo Nickel Project.

A spokesman for the Directors says the issuance of a prospecting license to their company by Mr Tovosia means he understands the need to utilise the Jejevo Nickel resource to improve the resource owners’ earnings, that of the Isabel province and the country as a whole.

He adds nickel mining operation can also create jobs for thousands of school leavers and university graduates who presently are unable to find employment.

By George Atkin in Honiara

PRIME Minister Rick Houenipwela has commended the Royal Solomon Islands Police Force (RSIPF) in what was described as the biggest drug bust in history.

This followed the discovery of the millions of dollars’ worth of cocaine in a foreign vessel by the RSIPF.

Speaking on his way back from New York attending the United Nations General Assembly (UNGA), the Prime Minister acknowledged the joint operation by the RSIPF and Australian Federal Police (AFP).

“I would like to commend the Police Commissioner and the RSIPF for a job well done and the professionalism displayed by our local police officers who have worked alongside the AFP in pulling of this massive and successful investigation,” he said.

The Prime Minister said the drug seizure is the biggest in history for Solomon Islands.

“This is a breakthrough and a positive display of what our local police officers are capable of,” he said.

–OPMC PRESS

By Alfred Sasako

A clinic on the border of East Kwaio and East Kwara’ae on Malaita has closed its doors, denying some 2,000-plus people access to medical care.

Sources told Island Sun on Monday the order to close down the facility at Namolaelae village came from the Director of Nursing based at Kilu’ufi Hospital three weeks ago.

The closure was blamed on a number of factors, including sanitation and petty complaints against staff, one said.

“There was no running water at the clinic for almost the entire year. The Namolaelae clinic could have been closed down months ago, but the Director of Nursing at Kilu’ufi decided to delay the action after the MP for East Kwaio and Minister for Infrastructure Development Hon Stanley Festus Sofu pledged to provide materials for the water supply.

“That was back in December last year. We have been waiting since but nothing has come through,” the source said.

The source said it would seem that things would only get worse so the decision was taken to close down the clinic until next year.

The two staff who were at the clinic are now helping at the Nafinua Health Centre until their postings for the next two months are decided.

“There were other issues at the Namolaelae Clinic. Members of the surrounding communities never stop complaining about the staff. This is now about the third time staff had to be moved because of petty complaints from members of the communities around here,” the source said.

The source said it is hoped this would be the last time that staff have to be moved unnecessarily.

Meanwhile, Sofu travelled to the Constituency last weekend, telling people at Yuru District his visit had nothing to do with Constituency matters.

He reportedly told the people he was there to visit with a sick relative.

However, a posting in the social media network, East Kwaio Politics and Development, said Sofu travelled to the Constituency to donate $50,000 to Atoifi Adventist Hospital. It is not clear whether the donation was made, if at all.

Sofu was due to return to Honiara yesterday. The weekend visit was his first in 12 years as an MP for East Kwaio.

THE Prospecting Licence holder of the Jejevo Nickel Project, Sunshine Minerals says prospecting work on the Isabel nickel project will start soon as a new partner with technical capability has been accepted to join the Sunshine Minerals team.

Directors of Sunshine Minerals announced yesterday in Honiara that the new partner is METMINCO Limited, an Australian gold producer which has bought the entire share capital of Sunshine Minerals.

Sunshine Minerals owns 80 percent stake in the Jejevo Nickel Project.

Sunshine Minerals, the Directors say sees the partnership with METMINCO Ltd as the provider of the opportunity to develop the Jejevo Nickel Project.

And the Directors of Sunshine Minerals, Mr Pawel Misiec and Nelson Kile commend the Minister of Mines, Energy and Rural Electrification, Bradley Tovosia for his foresight on the development of the Jejevo Nickel Project.

They say the issuance of the prospecting licence to their company by Mr Tovosia means he understands the need to utilise the Jejevo Nickel resource to improve the resource owners’ earnings, that of the Isabel province and the country as a whole.

They add, nickel mining operations can also create jobs for thousands of school leavers and university graduates, especially from Isabel province, who presently are unable to find employment.

And most importantly, they say, having METMINCO Ltd as a partner with the right resources and the technical capability does mean the development of the Jejevo Nickel Project will soon become a reality.

Executive Chairman of METMINCO Ltd, Kevin Wilson has led a company delegation to Honiara to discuss with the Directors of Sunshine Minerals and their small team about the nickel project, whether or not Solomon Islands has a conducive environment for investment and general information about the country.

Prior to arriving in Honiara, Mr Wilson said his company was interested in acquiring stake in Nickel and Bauxite Projects in Solomon Islands.

He said METMINCO Ltd is operating Quinchia Gold Project in Colombia, South America.

Meanwhile, Sunshine Minerals says it also has a prospecting license to operate Tausere Bauxite prospect on South Choiseul, Choiseul province.

It adds METMINCO Ltd is also a partner in the Tausere Bauxite Project.

By George Atkin

Honiara

BY JENNIFER KUSAPA

A man facing one count of rape has told court that he needs a lawyer to represent him.

Principal Magistrate Tearo Beneteti told the accused that if he needs a lawyer then he must continue following up on his requests made to the Public Solicitor’s office.

The accused told the court that he had made several requests to the PSO but has not had any lawyer visit him.

Beneteti said that he must continue to check on the PSO with the assistance of the Correctional Services and not to give up as the PSO is also facing a shortage of lawyers.

Meanwhile Public Prosecutor John Zoze informed the court that investigation into the alleged incident has already completed and disclosures have been prepared and are ready to be served to the defence.

The court then adjourned the case to October 15 for the accused to secure a lawyer so that the case can proceed.

On another separate case of rape incident that occurred in August and September of this year, the prosecution said that investigation is continuing and also the accused is still without a lawyer to represent him.

Prosecution also said that it is a new matter and the case is yet to be allocated to a prosecutor.

The case has also been adjourned to October 15 for mention.

BY JENNIFER KUSAPA

A man found guilty of assaulting his mother in-law with a stick at Wanderer Bay in Guadalcanal province will be sentenced today at the Honiara Magistrate Court.

The case was mentioned in court yesterday for sentencing but the presiding magistrate said that he will deliver it today.

This is the case against Edwin Belei who was charged with one count of domestic violence physical abuse under the Family protection act 4 (1) (a).

Police said that the man assaulted his mother in-law with a stick at their village in Wanderer Bay.

As a result of that incident the man was reported to the police in which he was arrested and charged for his actions.

Police Prosecution Service prosecutes the matter in court.