Acquisition of Western Areas Limited
Forrestania
Western Areas flagship producing asset is the 100% owned Forrestania nickel project
Flying Fox
Flying Fox has operated for over 15 years
Significant low grade disseminated resource
In FY21, Flying Fox mined a total of 176.5kt ore at an average grade of 3.25%
nickel for 5.7kt contained nickel
Spotted Quoll
Spotted Quoll Underground has operated for 10 years
Utilises top down mining with paste fill
In FY21, Spotted Quoll mined a total of 346.4kt ore at an average grade of 3.2%
nickel for 11.1kt contained nickel which is the highest annual ore tonne production
to date
igo
Spotted Quoll Open Pit
Tonnes
(Mt)
Ni grade Ni tonnes (kt)
(%)
Production & Costs
FY21 Result
FY22 Guidance
Flying Fox - Ore Reserves
0.16
3.2%
5.2
Flying Fox - Ore Resources
1.09
3.7%
40.3
Nickel in concentrate mined (t)
Cash Costs (A$/lb Ni)
16,812
A$4.23
16,000 17,000
A$4.25 A$4.651
Mine life (on Ore Reserves)
~1 year
Spotted Quoll - Ore Reserves
0.79
3.7%
29.2
Spotted Quoll - Mineral Resources
0.78
6.1%
47.6
Mine life (on Ore Reserves)
4 years
Note: Reserves and Resources as per Western Areas September Quarterly Presentation (ASX: 28 October 2021); 1. Per lb of nickel, payable terms are not disclosed due to confidentially conditions of the offtake agreements.
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