Value Microcaps Motherboard

[kipp440]

Australian bird deaths halt Ivernia lead shipments
Mon Mar 12, 2007 10:50 AM ET

VANCOUVER, British Columbia , March 12 (Reuters) - Ivernia Inc. <IVW.TO> said on Monday its shipments of lead concentrate had been halted pending the outcome of an investigation into the recent death of several birds in Western Australia, possibly from lead poisoning.

The Toronto-based mining company owns the Magellan lead mine in Western Australia, which opened in 2005 and is ramping up to full production.

Ivernia said in a statement that tests by the Western Australian Department of Environment and Conservation suggested two of four birds examined had died of lead poisoning.

The company wasn't immediately available for comment.

Trading in Ivernia's stock was halted on the Toronto Stock Exchange before the announcement. It was last bid and offered at below C$1.60, after closing at C$1.83 on Friday.

The Magellan mine produced 63,200 tonnes of lead metal in concentrate last year. Once at full production, which the company expected the mine to reach in the second half of this year, according to the firm's Web site, the Magellan mine will account for about 3 percent of the world's lead mine supply.

Lead's biggest use is in lead-acid batteries for cars.