Ann: USD35M Offtake Prepayment Facility for Nifty Restart Project, page-140

And a bit of Historical data from Nifty
Nifty History
The first mineralisation was discovered in a gossan in 1981 by Mark Neville, whose nickname was "Nifty", presumably taken from Neville Wran. The high-grade sulphide deposit was discovered by drilling in May 1983. Delineation of the copper carbonate zone was completed within a year or two but the deposit was not considered economic at that time. Further drilling of the sulphide zone continued over the next few years. Regional exploration continued under the direction of Paul Mazzoni, a senior geologist with wide experience in many fields. In 1984 encouraging zinc-lead values were obtained from drilling at the Warrabarty Prospect, 55km north of Nifty, but subsequent drilling was unsuccessful in proving an economic ore body. Follow up drilling continued without result.The area was the subject of an agreement between the Company and the WA Government inDecember 1985 and efforts to attract a joint venture partner soon after were not successful. By 1989 the Exploration Division had defined a measured resource of 4 million tonnes of oxidised ore averaging 3% copper and 5 million tonnes of sulphide mineralisation at a grade of 5% copper. This was the subject of a number of feasibility studies over the next year or two during which further drilling and assessment resulted in the oxide resource being increased to 6 million tonnes at 3% copper. A later feasibility study determined that this latter reserve could be developed by an opencut followed by heap-leaching, solvent-extraction, electrowinning to treat 600,000 tonnes of ore a year to recover 16,500 tonnes of high grade copper cathode. In the latter half of 1992 agreement was reached with the WA Government on the terms and conditions of development and an announcement was made on 3 September, indicating work on the $60 million project would commence immediately. The Department of State Development supported the project with a $2 million loan towards infrastructure costs. A royalty rate of 2.5% was agreed.