Acquisition of Western Areas Limited
Nova
High margin 100% owned and operated nickel sulphide mine producing high quality concentrates
Nova Overview1
FY21 performance drove record financial outcomes from Nova:
Underlying EBITDA of A$436M (EBITDA margin of 65%)
Underlying FCF of A$393M (FCF margin of 59%)
Expanded exploration program through Silver Knight acquisition:
Acquisition of the Silver Knight nickel-copper-cobalt sulphide deposit from Creasy
Group for A$45M completed in October 2021
Infill drilling program to commence 4Q22 to inform and update resource estimate
during 2Q23
FY22 expected capital expenditure requirements:
Development capex of A$5-7M
Sustaining/improvement capex of A$19M-22M
igo
Nova Processing Plant
Tonnes
Ni grade
(Mt)
(%)
Ore Reserves²
9.0
1.8%
Cu grade
(%)
0.8%
Co grade Ni tonnes
(%)
0.07%
(kt)
163
Mineral Resources²
11.8
1.8%
0.7%
0.06%
208
Mine life (on reserves)
~6 years
Production & Costs 1
Nickel in concentrate (t)
Copper in concentrate (t)
Cobalt in concentrate (t)
Cash Costs (A$/lb Ni payable)
FY21 Result
29,002
13,022
FY22 Guidance
25,000 27,000
11,000 12,500
1,084
900-1,000
A$1.85
A$2.00 A$2.40
1. As per IGO AGM Presentation (ASX: 18 November 2021); 2. As per IGO CY20 Mineral Resource and Ore Reserve Statement (ASX: 17 March 2021).
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