Jim,
If (as I expect it is) the ore is similiar to that of MCRs then BHP will be very keen to get their hands on it, as it makes concentrate that blends very well in their Kalgoorlie smelter with their other less suitable concentrate.
BHP produce a concentrate for MCR in their Kambalda concentrator for a modest tolling fee, and buy the concentrate from MCR on very good terms (very high 70s % payability). A lot of other miners only get around 75% payability for their concentrate. If you look at the DFS MCR did (25 March 2020) you can deduce roughly the payability, and see all the whole economic structure. Worth a read if you are interested in investing in Lunnon (or MCR of course).
I don’t believe BHP would want to get involved with these relatively small, complex mines, which don’t suit their grandiose mindsets. They are very keen to get the concentrate from them though. They will make very good margins on the smelting, refining and production of battery grade nickel sulphate.
I’d have thought Lunnon would have wanted to stay independent for at least long enough to add a lot of value from exploration, and a lot of the exploration on these deposits only occurs from at depth, from within operating mines - so years away.
PS I am no geologist or mining type, just someone who has invested in WA nickel miners since 2004, and followed several quite closely at times.
EL
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