Poseidon Nickel Releases Silver Swan DFS Results

Poseidon Nickel (ASX: POS. “Poseidon” or the “Company”) is pleased to advise the key outcomes of the Definitive Feasibility Study (DFS) for the Silver Swan high grade underground nickel mine.
Highlights

• Strong Economic Fundamentals
• High grade underground nickel mine
• All-in-sustaining cash costs including capital of US$3.10lb
• Breakeven nickel price of US$4.63/lb on an undiscounted basis
• First ore from financing in less than 9 months

Low Capital Intensity

• Existing underground mine and infrastructure
• Pre-production and working capital of A$25.0m

Physical Parameters

• Initial 2 year mine life for 147Kt of ore and 8.8Kt of contained nickel
• Underground mine diluted Ore Reserve of 3.3kt of contained nickel, grading 5.8% nickel, 0.1% cobalt & 0.3% copper to surface

Significant Upside

• Silver Swan Deeps, Black Swan Open Pit plus stockpiled ore, combined with Windarra & Cerberus add potential project mine life for a minimum of 7 years

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