AUZ - SKI - Count Down Begins. 5days, page-634

Hi C11
Perhaps if you go further back and did a bit more research you would see the Sconi Project which we will just call the Greenvale deposit as it was originally called when found viable in the 1960's. Then Freeport developed it in the early 70's also bringing online the QNI facility in Townsville. This facility in Townsville utilises/utilised the Caron Laterite Process which is very energy intensive via the Roasting method used. It is also ineffcient compared to HPAL av a 81-2% recovery of Ni and Co wasn't targeted hard till a upgrade in 1989. Due to inefficient recovery , grades of greater than 1.3% Ni were required, hence the waste stockpiles onsite and drilled by AUZ and MLM of 1% and greater grades of Ni. Greenvale was mined till 1989 and last ore transported fom Greenvale in 1995.
Lucknow was drilled originally by BHP after they took ownership of QNI and Greenvale deposits.
QNI even using the inefficient Caron Process was profitable, HPAL is more efficient with 92-94% recoveries of Ni and Co.
Also in the initial MLM PFS Scandium production was going to be Stage 1 and then if profits were made Stage 2 was going to be the expansion including a Acid Plant and Power staion for the production of MHP. But due to no market emerging for Sc and only having a MOU with Bloom Energy and prices of Ni and Co falling as per the below graphs in the period post 2012

http://www.infomine.com/investment/metal-prices/nickel/all/


http://www.infomine.com/investment/metal-prices/cobalt/10-year/

It, the project ,was put on the backburner till AUZ signed the partnership in 2016 for Sc development.
MLM when selling for ownership stated that they wished to concentrate on their Al Weipa Project.
As to the Sc to Sc/Co to Sc/Ni/Co well improving prices, the EV revolution rapidly gathering pace and a processong flowsheet targeting sulphates that sell for a premium and are a straight feed product for batt cathode producers is what this project is based on.