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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.
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.