As expected, a great outcome here by Team Flash & Co.
They are still to tack on the underground mining possibility (which has a grade of 1.5% and can be mined contemporaneously with the open pit) to blend it with the open pit ore (proven grade of 0.93%) to lift the overall plant feed grade. A 6 week wait for this study to be incorporated. So, more upside around the corner. Unfortunately they didn't give a sensitivity analysis to the NPV on the effect of better grades, but if the Ni recovery sensitivity is anything to go by, any significant grade increase in the early years will have a significant increase to NPV from USD735m. Can't wait to see this UG study.
Didn't see that they need to get additional approval for their plant changes, but maybe I overlooked this in the Exec Summary!
Q1 2026 FID...nuff said.
Plenty of other stuff in it, but still reading.
CTM Price at posting:
38.0¢ Sentiment: None Disclosure: Held
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