Ann: Investor Presentation July 2019, page-9

Below is an excerpt from Geoscience Australia which I looked up to confirm that Sinclair was a nickel sulphide deposit as opposed to a lateritic one. The other interesting take-out was the amount of cobalt and copper extracted in addition to the nickel.

As we all know the battery metals of nickel sulphide and cobalt are the place to be as well as copper for electric motors so that brings Sinclair well and truly back into focus. Talisman do not have the funding to throw at a full exploration effort at Sinclair but other players do and the falling A$ and the rise in nickel prices are making Sinclair an attractive asset to own. With BHP getting back into nickel sulphides one can't help but wonder whether Glencore will follow and whether history will repeat itself. Watch this space!




Xstrata Nickel Australasia Pty Ltd operates the Cosmos nickel project in WA which is made up of a concentrator at Cosmos and mines at Tapinos and Prospero. Another operation, the Sinclair Mine, which has its own concentrator, is about 100 kilometres southeast of the Cosmos operations. In September, Xstrata announced the suspension of operations at Cosmos project and introduction of a care and maintenance schedule in response to adverse market conditions, including a prolonged period of low nickel prices and a strong Australian dollar. Evaluation of the newly-discovered Odysseus, Odysseus North and Odysseus Massive deposits at Cosmos was continued, with a view to completing a feasibility study by the first quarter of 2014 to enable an investment decision, which would depend on market conditions. Mining operations ceased at Sinclair in May 2013 as resources were exhausted but stockpiled ore will continue to be processed.

Xstrata announced that metal in concentrates produced in 2012 from the Cosmos and Sinclair operations, amounted to 11 674 tonnes of nickel, 573 tonnes of copper and 322 tonnes of cobalt¹. The concentrate is transported by truck to the coastal town of Esperance in southwest WA and shipped to the Xstrata nickel smelter in Sudbury, Ontario.