Western Areas Releases Quarterly Activities Report

- October 30th, 2018

The Western Areas managing director said the September quarter was about commencing the new financial year with a strong start and focussing on delivery of the Odysseus DFS.

Western Areas (ASX: WSA) has reported what it called an excellent start to the year, with operations on track and significant development activity comprising early works at Cosmos, new primary ventilation fans installed and commissioned at Spotted Quoll and the new filtration and bagging facilities at the MREP completed on time and budget.

As highlighted in the press release:

  • One lost time injury, resulting in a LTIFR of 1.81
  • Mine production of 5,868 nickel tonnes
  • Mill production 5,379 nickel tonnes with 89 percent recovery
  • Unit cash cost of nickel in concentrate of AU$2.99 per pound lb, well within guidance range
  • Operating cash flow of AU$24.8m and closing cash at bank of AU$150.9m
  • Capital expenditure, early works at Odysseus, feasibility study costs and exploration total AU$25.4m
  • Mill recovery enhancement project (MREP) in ramp up mode with new bagging facilities installed and operational
  • Substantial progress on Odysseus definitive feasibility study (DFS) with a decision to mine and DFS results announced post quarter end

Western Areas managing director, Dan Lougher, said the September quarter was about commencing the new financial year with a strong start and focussing on delivery of the Odysseus DFS.

“The DFS for Odysseus, our next planned mining and processing operation, was completed and approved post the end of the quarter. The September quarter outcomes were in line with our expectations and pleasingly nickel in concentrate production was the highest it has been in the last nine months.”

Click here to read the full Western Areas (ASX:WSA) press release.

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