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Western Areas: Strong DFS Results in Decision to Mine
Oct. 22, 2018 08:58AM PST
The company said the board has approved a decision to mine, with Odysseus to continue the separate early works program announced in April 2018.
Western Areas (ASX:WSA) has announced the results of the Cosmos Odysseus definitive feasibility study in Western Australia, which confirms a robust 10‐year operation producing 130,000 of contained nickel in concentrate.
The company said the board has approved a decision to mine, with Odysseus to continue the separate early works program announced in April 2018. The project does not require any significant capital outlay for a number of years, therefore providing optionality around funding future commitments.
As quoted in the press release:
The DFS demonstrates a larger, longer life project with improved economics compared to the pre‐ feasibility study. The project also has significant upside opportunities, with optimization studies to commence on the potential of bringing the AM5 and AM6 deposits into production, which collectively comprise an indicated mineral resource of 57,600 of nickel adjacent to Odysseus. With first nickel concentrate scheduled for the December 2022 quarter, Odysseus will be one of the few nickel sulfide mines coming on‐line just as forecast demand for class one nickel is expected to substantially increase in the electric vehicle sector.
Click here to read the full Western Areas (ASX:WSA) press release.
