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Poseidon Nickel Ltd.
Summary
| Project: | Black Swan | |
|---|---|---|
| Deposit: | Black Swan, Silver Swan | |
| Location: | Australia | |
| Commodities: | Nickel-Cobalt-Copper | |
| Date: | 7/18/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 18-7-2018: Poseidon Nickel Ltd. announces a Feasibility Study report for its Black Swan, Silver Swan deposit at the Black Swan project. Feasibility Study results incl. pre-tax NPV of A $43.6M (10%), IRR of 92%, 3.1yr LOM at project. Poseidon Nickel Limite | |
| Resources: | (Reserve, Prob.): 3.427Mt @ 0.72 Ni, 0.11% Co, 0.26% Cu at Black Swan and Silver Swan | |
| CP/QP: | [Resources]: Neil Hutchinson;Ian Glacken (Internal;Optiro Pty Ltd.) | |
| ABSTRACT: | Poseidon Nickel Limited (ASX:POS or the Company) is pleased to announce that it has completed a Feasibility Study for its 100% owned Black Swan Nickel Operations. The study confirms that the operations can be brought back into operation with first production within 12 months of fully funding the project, at a low level of capital investment and that no regulatory or technical barriers exist. Black Swan Nickel Operations remains on care & maintenance with all assets held in good standing. The engineering study highlighted the key prestart activities required to restart mining and processing activities and to confirm the required capital and operating costs. The study was initiated to update previously completed studies including an analysis of the geological model, resource model, geotechnical studies, a re-design of the mining methodologies used for the ore body and an analysis of the necessary work required to restart the process plant and infrastructure. The integrated Silver Swan & Black Swan engineering study has materially increased the initial project life and ore throughput rates. Poseidon also owns the Lake Johnston & Windarra Nickel Projects. The 2.2 million tonne per annum processing plant capacity at Black Swan is able to process third party feed on a toll treatment basis or purchase at gate under contract terms. Several mines within the Kalgoorlie region will come out of contract and an opportunity exists to competitively bid for the ore. | |
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