Tag: Flying Fox

WA nickel miner, Western Areas, has had a strong start to FY20 as it continues ramping up toward production at Odysseus, hitting all major guidance targets across its Forrestainia operations, while reporting some exciting results from its extensive exploration portfolio. For the September quarter, Western Areas reported mill production at 5259t (FY20 guidance between 21,000 and 22,000t), at a cost of $3.06 (FY guidance oat $2.90/lb to $3.30). Its net cash flow was up $21.6m to $165.9m, receiving a $33.1m boost from the sale of Kidman Resources to Wesfarmers. Nickel prices have surged to a five-year high, jumping almost 70pc since the start of the year, peaking at $US18,153/t off the back of increased interest in nickel for the EV...

WESTERN Areas is bang on track to coincide production at its Odysseus project with the expected high demand for nickel in the electric vehicle market in 2022. The project sits within the Cosmos nickel complex, alongside Western Areas’ existing Forrestainia operation in WA, 28km northwest of BHP’s Leinster nickel operations. Western Areas managing director and chief executive officer Daniel Lougher said that early works on site were almost complete. “Early works was being done in parallel with the definitive feasibility study and included dewatering, creating evaporation ponds and doing some work at the camp plus the rehabilitation of the existing decline underground,” Mr Lougher said. “We’re now sitting fully rehabbed down to a vertical depth of about 500m below the...

  All images: Western Areas Panorama view of Western Areas Flying Fox processing plant.   BY: JESSICA CUMMINS WESTERN Areas has a lot to look forward to with development pushing ahead at its new Odysseus prospect and continued exploration opportunities across its Forrestania operation, and newly acquired Western Gawler tenements.   Nickel-focused miner, Western Areas, doubled its net profit from $4.8 million to $8.3 million in the second half of FY18 in line with improved nickel prices. With free cash flow of $19.1 million as of 30 June, Western Areas managing director and chief executive Dan Lougher said the company’s midterm outlook was to utilise cash on hand to accelerate exploration. Mr Lougher also had high hopes for its newly...