Ann: UPDATE ON DELIVERY OF WINGELLINA PRE-FEASIBILITY STUDY, page-4

For those who have been around NC1 or MLX most of what I say below is old information.

The Ni Co resource is NOT going to be an issue. It is large and IMO will likely grow over the decades it will take to mine the currently known parts. Assumes a mine which is the problem at the moment.

Inco (1955-early 70s work) put a resource of sub 100Mt at similar grades (Ni Co) to the current ~200Mt. Plus there is Claude Hills and other targets such as Scarface (One intersection only but quite nice) that I spotted in an old MLX quarterly while searching for information on Claude Hills (not easy to find - anyone have ideas? Sarig perhaps)





A bit more on exploration potential


Wingellina/Claude hills style in red.
The stars on the above map are the closest I have come to finding any detail of the 2012/3 AEM survey. There is no indication MLX drilled any of these anomalies in my search of announcements. Maybe they did but if they didn't then there may be some sulphide targets just waiting to be prioritised.

The PFS relies very heavily on a sold MRE. IMO that is not a problem.

Processing also seems to be a well trodden path with the deposit style at Wingellina amenable to HPAL.


Access is constantly improving with the Great Central Road getting paved by 2030 if current plans come to fruition. Leaves the 150Kms to Wingellina for the company and WA government.

Power/Water OK.
An example of what is possible for relatively remote mines:

Bunch of large porphyry Cu deposits probably use the power from this combination array in northern Chile. (Spence/Sierra Gorda)

The solar panel areas are in the Km scale. The central mirror system some 1.5Km in RADIUS.

OZL are probably going with a combination of Solar, Wind and batteries at Nebo Babel




From a distant perspective there seem to be ticks in most of the boxes for the PFS. How well ticked is going to be revealed later this year.

Then comes the search for funding if the PFS results lead to DFS and bankable feasibility.

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Some corporate activity I noted from the MLX days.

Jinchuan 20%. Do they still hold?
Off take? agreements that were non binding? probably dropped? Samsung mentioned 2013 or so

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