Nevada Chemicals Inc - Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

Cyanco Holding Corp.

2. Date of Event Requiring Statement (MM/DD/YYYY) 9/5/2008

3. Issuer Name and Ticker or Trading Symbol

NEVADA CHEMICALS INC [NCEM]

(Last) (First) (Middle)

C/O OAKTREE CAPITAL MANAGEMENT, L.P., 333 SOUTH GRAND AVE., 28TH FLOOR

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director ___ X ___ 10% Owner
_____ Officer (give title below) _____ Other (specify below)

(Street)

LOS ANGELES, CA 90071

(City) (State) (Zip)

5. If Amendment, Date Original Filed (MM/DD/YYYY)

6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.001 per share	0	I	See footnotes ⁽¹⁾ ⁽²⁾ ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾ ⁽⁷⁾ ⁽⁸⁾

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:
( 1)	This Form 3 is being filed by (i) Cyanco Holding Corp. ("Parent"); (ii) OCM Cyanco Holdings, LLC ("Cyanco LLC"), in its capacity as sole shareholder of Parent; (iii); OCM Principal Opportunities Fund IV Delaware, L.P. ("Fund IV Delaware"), in its capacity as the sole member of Cyanco LLC; (iv) OCM Principal Opportunities Fund IV Delaware GP Inc. ("Fund IV Delaware GP"), in its capacity as general partner of Fund IV Delaware; (v) OCM Principal Opportunities Fund IV, L.P. ("Fund IV"), in its capacity as sole shareholder of Fund IV Delaware GP; (vi) OCM Principal Opportunities Fund IV GP, L.P. ("Fund IV GP"), in its capacity as general partner of Fund IV; (vii) OCM Principal Opportunities Fund IV GP Ltd. ("Fund IV GP Ltd."), in its capacity as general partner of Fund IV GP; (viii) Oaktree Fund GP I, L.P. ("GP I"), in its capacity as sole shareholder of Fund IV GP Ltd; and (ix) Oaktree Capital I, L.P. ("Capital I"), in its capacity as general partner of GP I.
( 2)	This Form 3 is also being filed by (i) OCM Holdings I, LLC ("Holdings I"), in its capacity as general partner of Capital I; (ii) Oaktree Holdings, LLC ("Holdings"), in its capacity as managing member of Holdings I; (iii) Oaktree Capital Management, L.P. ("Oaktree LP"), in its capacity as director of Fund IV GP Ltd.; (iv) Oaktree Holdings, Inc. ("Holdings Inc."), in its capacity as general partner of Oaktree LP; (v) Oaktree Capital Group, LLC ("OCG"), in its capacity as managing member of Holdings and the sole shareholder of Holdings Inc.; (vi) Oaktree Capital Group Holdings, L.P. ("OCGH"), in its capacity as holder of a majority of the voting units of OCG; (vii) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), in its capacity as general partner of OCGH; (viii) Jordon Kruse ("Kruse"); and (ix) Cass Traub ("Traub").
( 3)	Each of Parent, Cyanco LLC, Fund IV Delaware, Fund IV Delaware GP, Fund IV, Fund IV GP, Fund IV GP Ltd., GP I, Capital I, Holdings I, Holdings, Oaktree LP, Holdings Inc., OCG, OCGH, OCGH GP, Kruse and Traub may be referred to individually as a "Reporting Person" and collectively as the "Reporting Persons."
( 4)	Information with respect to each Reporting Person is given solely by such Reporting Person, and no such Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person. Each Reporting Person disclaims beneficial ownership the securities reported herein, and none of the Reporting Persons has any pecuniary interest in any of the shares of Common Stock subject to the Support Agreement. The filing of this Form 3 shall not be construed as an admission that any such Reporting Person is the beneficial owner of any securities covered by this Form 3.
( 5)	OCGH GP is a limited liability company managed by an executive committee, the members of which are Howard S. Marks, Bruce A. Karsh, Sheldon M. Stone, D. Richard Masson, Larry W. Keele, Stephen A. Kaplan, John B. Frank, David M. Kirchheimer and Kevin L. Clayton (each, an "OCGH GP Member" and collectively, the "OCGH GP Members"). In such capacity, the OCGH GP Members may be deemed indirect beneficial owners of the securities reported herein. Each OCGH GP Member disclaims beneficial ownership of the securities reported herein and the filing of this Form 3 shall not be construed as an admission that any such person is the beneficial owner of any securities covered by this Form 3.
( 6)	On September 5, 2008, Parent and Calypso Acquisition Corp. entered into Support Agreements (the "Support Agreements") with John T. Day, E. Bryan Bagley, M. Garfield Cook, Nathan L. Wade, James E. Solomon and the BLA Irrevocable Investment Trust (the "Principal Shareholders"). As of September 5, 2008, the Principal Shareholders owned an aggregate of 2,917,387 shares of Common Stock of Nevada Chemicals, Inc. (the "Company"), and 21,000 Common Stock Options.
( 7)	Under the Support Agreements, the Principal Shareholders granted to, and appointed, Messers Kruse and Traub, in their respective capacities as officers of Parent, and any individual who thereafter succeeds to any such office of Parent, their proxy and attorney-in-fact to tender such Principal Shareholders' Common Stock or to vote the Principal Shareholders' Common Stock as described in the Support Agreements. As a result of being granted the proxies of and appointed as attorney-in-fact for the Principal Shareholders, Messers Kruse and Traub may be deemed to have an indirect beneficial ownership of 2,917,387 shares of Common Stock and 21,000 Common Stock Options.
( 8)	To the extent that the other Reporting Persons have the power to control Messers Kruse and Traub and appoint their successors, whether directly or indirectly solely in their capacities as control persons over an entity in the control chain, the other Reporting Persons may also be deemed to have an indirect beneficial ownership of 2,917,387 shares of Common Stock and 21,000 Common Stock Options.

Remarks:
This Form 3 is being filed in two parts due to the large number of reporting persons. This filing is filed by the Reporting Persons
listed in Footnote 1 above. An accompanying filing is filed, on the date hereof, by the Reporting Persons listed in Footnote 2, above.
Both filings relate to the same series of transactions described above.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Cyanco Holding Corp. C/O OAKTREE CAPITAL MANAGEMENT, L.P. 333 SOUTH GRAND AVE., 28TH FLOOR LOS ANGELES, CA 90071		X
OCM Cyanco Holdings, LLC C/O OAKTREE CAPITAL MANAGEMENT, L.P. 333 SOUTH GRAND AVE., 28TH FLOOR LOS ANGELES, CA 90071		X
OCM Principal Opportunities Fund IV Delaware, L.P. C/O OAKTREE CAPITAL MANAGEMENT, L.P. 333 SOUTH GRAND AVE., 28TH FLOOR LOS ANGELES, CA 90071		X
OCM Principal Opportunities Fund IV Delaware GP Inc. C/O OAKTREE CAPITAL MANAGEMENT, L.P. 333 SOUTH GRAND AVE., 28TH FLOOR LOS ANGELES, CA 90071		X
OCM Principal Opportunities Fund IV, LP C/O OAKTREE CAPITAL MANAGEMENT, L.P. 333 SOUTH GRAND AVE., 28TH FLOOR LOS ANGELES, CA 90071		X
OCM Principal Opportunities Fund IV GP, LP C/O OAKTREE CAPITAL MANAGEMENT, L.P. 333 SOUTH GRAND AVE., 28TH FLOOR LOS ANGELES, CA 90071		X
OCM Principal Opportunities Fund IV GP LTD C/O OAKTREE CAPITAL MANAGEMENT, L.P. 333 SOUTH GRAND AVE., 28TH FLOOR LOS ANGELES, CA 90071		X
OAKTREE FUND GP I, L.P. C/O OAKTREE CAPITAL MANAGEMENT, L.P. 333 SOUTH GRAND AVE., 28TH FLOOR LOS ANGELES, CA 90071		X
Oaktree Capital I, L.P. C/O OAKTREE CAPITAL MANAGEMENT, L.P. 333 SOUTH GRAND AVE., 28TH FLOOR LOS ANGELES, CA 90071		X

Signatures
/s/ Cyanco Holding Corp. by Dennis M. Myers, P.C. under a Power of Attorney		9/15/2008
^** Signature of Reporting Person		Date
/s/ OCM Cyanco Holdings, LLC by Dennis M. Myers, P.C. under a Power of Attorney		9/15/2008
^** Signature of Reporting Person		Date
/s/ OCM Principal Opportunities Fund IV Delaware, L.P. by Dennis M. Myers, P.C. under a Power of Attorney		9/15/2008
^** Signature of Reporting Person		Date
/s/ OCM Principal Opportunities Fund IV Delaware GP Inc. by Dennis M. Myers, P.C. under a Power of Attorney		9/15/2008
^** Signature of Reporting Person		Date
/s/ OCM Principal Opportunities Fund IV, L.P. by Dennis M. Myers, P.C. under a Power of Attorney		9/15/2008
^** Signature of Reporting Person		Date
/s/ OCM Principal Opportunities Fund IV GP, L.P. by Dennis M. Myers, P.C. under a Power of Attorney		9/15/2008
^** Signature of Reporting Person		Date
/s/ OCM Principal Opportunities Fund IV GP Ltd. by Dennis M. Myers, P.C. under a Power of Attorney		9/15/2008
^** Signature of Reporting Person		Date
/s/ Oaktree Fund GP I, L.P. by Dennis M. Myers, P.C. under a Power of Attorney		9/15/2008
^** Signature of Reporting Person		Date
/s/ Oaktree Capital I, L.P. by Dennis M. Myers, P.C. under a Power of Attorney		9/15/2008
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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