COPY OF FINAL PROSPECTUS - Mirabela Nickel

PROSPECTUS SUMMARY
The following is a summary of the principal features of the Offering and should be read together with the more detailed
information, financial data and financial statements contained elsewhere in this prospectus. For an explanation of certain
technical terms used in this prospectus, please see ‘‘Glossary of Technical Terms’’ beginning on page A-1 of
this prospectus.
Issuer: Mirabela Nickel Limited (ACN 108 161 593)
Business of Mirabela:
Objective of Mirabela:
Santa Rita Project:
Mirabela is a mineral exploration company incorporated under the laws of
Australia and listed on the TSX and the ASX. Mirabela has a portfolio of
prospective nickel and other base metal projects in Brazil. Mirabela’s principal
asset is the Santa Rita disseminated nickel sulphide deposit in the Bahia State,
Brazil. Management believes that the Santa Rita deposit is the largest
disseminated sulphide nickel deposit in South America and the largest greenfield
nickel sulphide discovery in the world in the last ten years.
Mirabela’s primary focus is on completing a bankable feasibility study
(the ‘‘BFS’’) for the development of an open pit mine at the Santa Rita deposit
with a four million tonne per annum throughput nickel sulphide flotation
processing plant that will use a conventional flotation processing system to
produce an average of approximately 16,000 tonnes per annum of nickel in
custom concentrate over an expected mine life in excess of ten years (the ‘‘Santa
Rita Project’’).
Mirabela’s principal objectives are:
• to complete the BFS in May 2007;
• subject to a positive outcome of the BFS, to commence construction of the
processing facility and associated infrastructure of the Santa Rita Project by
late 2007 in order to commence production in early 2009; and
• to continue its active drilling and exploration program at the Santa Rita
deposit and in the immediately surrounding area, to provide additional
resources to the proposed processing facility.
The highlights of the Santa Rita Project include the following:
• the project site is approximately 140 kilometres by road from the Atlantic
seaport of Ilheus, is within four kilometres of a state highway and an airport
and is well served with infrastructure, including a government power grid
(230kV) and access to water from the nearby Rio de Contas river system;
• the resource estimates for the Santa Rita deposit (using a Ni cut-off grade of
0.35% gabbro and pyroxenite, 0.4% peridotite and 0.5% dunite) are as follows:
Classification Mt Ni (%) Cu (%) Co (%)
Indicated .............................. 52.4 0.62 0.15 0.016
Inferred ............................... 18.0 0.57 0.14 0.015
• the estimate of mineral resources is based on a large technical database
(including the results of 200 diamond drill holes totalling 43,105 metres);
• the Company has a well advanced and active drilling program (370 diamond
drill holes totaling 80,500 metres have been drilled to date) that management
believes will result in an upgrade to the resource estimate;
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