First few paragraphs
Syerston Nickel/Cobalt Mineral Resource Estimate
Updated Resource Estimate demonstrates potential for Syerston to become a leading global supplier of cathode raw materials to the lithium-ion battery industry
Highlights
Update to global nickel/cobalt Mineral Resource Estimate confirms approximately 700 kt of contained nickel and over 110 kt of contained cobalt, making Syerston one of Australia’s largest undeveloped nickel/cobalt resources
Over 92% of the Updated Mineral Resource Estimate is in the Measured and Indicated categories
Cobalt grades position Syerston to be one of the largest global suppliers of cobalt outside Africa
Potential to fast track development with key work programmes, infrastructure and permits already in place - prior feasibility study completed; Project located adjacent to existing road and rail line; water allocation secured; EIS approved; and Development Consent for a 2.5 Mtpa operation granted
Nickel/Cobalt Project Prefeasibility Study (PFS) to be released shortly
The PFS will assess potential for a 1.5 - 2.5 Mtpa mining operation to produce high purity nickel sulphate and cobalt sulphate products to supply the global lithium-ion battery industry
The Project has the potential to generate significant scandium by-product credits, opening options for a step change reduction in scandium oxide production costs
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