Sirius Hoping for Nickel Price Rebound in 2017

The West Australian reported that Sirius Resources plc (LSE:SXX) said that with nickel prices currently sitting at about US$6.50 per pound, it is currently a bad time to be producing the metal; however, the company is hopeful that prices will rise to $8 to $12 in 2017.

As quoted in the market news:

Sirius said the definitive feasibility study for its Nova-Bollinger project was on track for completion in the middle of next year.

A scoping study has defined Nova-Bollinger as a financially robust, technically low risk project with an initial 10-year minelife, delivering net cashflow of $2.8 billion.

The project is expected to produce 28,000 tonnes of nickel a year, 11,000tpa copper and 940tpa cobalt over its initial 10-year life.

Click here to read the full report from The West Australian.