PriceSensitive

Poseidon Nickel (ASX:POS) explores new option for Black Swan BFS

ASX News, Mining
ASX:POS      MCAP $25.99M
12 July 2022 10:40 (AEST)

This browser does not support the video element.

Poseidon Nickel (POS) has progressed its bankable feasibility study (BFS) for the restart of its Black Swan project in Western Australia.

The company is exploring the option to increase throughput of the concentrator to 2.2 million tonnes per annum (Mtpa) capacity.

This decision was underpinned by the updated disseminated mineral resource of 29.8 million tonnes at 0.69 per cent nickel for 206,000 tonnes of nickel contained.

GR Engineering Services will investigate the capital and operational expenditure required to execute the increased throughput option.

However, POS will still continue its feasibility study on the 1.1 Mtpa scenario as well.

An internal economic assessment was conducted, which supported various restart options.

Meanwhile, the company has furthered metallurgical testwork to optimise concentrates for refinery feed.

In addition, it advanced discussions with potential offtake partners and financiers to help fund the project’s restart.

Shares were trading 2.38 per cent higher this morning at 4.3 cents each at 10:18 am AEST.

Related News