NiCo Resources

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NiCo Resources (ASX: NC1) is actively developing and exploring the Central Musgraves project (CMP) in Western & Southern Australia. The project hosts the world class Wingellina Ni-Co deposit which contains a nickel-cobalt-scandium lateritic Mineral Resources in excess of 200 million tonnes, containing 1.95 million tonnes of nickel and 150 thousand tonnes of cobalt, along with a probable Ore Reserve of 164.8 million tonnes containing 1.56 million tonnes of Nickel and 123,000 tonnes of cobalt.

A Phase 1 Feasibility Study (+/-25%) was completed in 2008 and updated in 2012 to envision a HPAL processing plant capable of producing between 30,000 to 39,000 tpa of nickel. This would indicated a potential project mine life in excess of 30 years based on current reserves alone. Due to outcropping nature of the orebody and intense oxidation of the ores, mining is anticipated to be low cost as the ores can be extracted without the requirement for
blasting. Mining studies, completed as part of the Phase 1 Feasibility
Study estimated the average waste:ore strip ratio for the first 20 years of
mining being only 0.5:1 and for the 39-year project 1:1.

The Wingellina project has a mining and infrastructure access agreement already in place as well as having received EPA approval in 2016. It is NiCo's intention to progress the Wingellina project through development and ultimately into production.

NiCo Resources is lead by a board and management team with a strong track record in capital markets experience and project delivery for the creation of shareholder wealth, including Warren Hallam (Non-Executive Chairman), Roderick Corps (Managing Director), Brett Smith (Non-Executive Director) and Amanda Burgess (Company Secretary).

Keywords

hydrometallurgy, project development, capital markets, project financing, cobalt, mineral exploration, nickel

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