That depends...
Where will the ore go?
What depth is the base of oxidation? It was absent from the cross-section in the update announcement.
There looks to be some sort of constraint with the tenement boundary on the eastern side...the pit shape seems influenced by it. I can only assume ESR have no rights to that ground. Is this going to impact on final depth of pit etc?
Steep orebody, so need to move a fair amount of dirt to get deeper = High strip ratio.
Anything else in the ore like gold, platinum, palladium, copper?
Given they can probably just load dirt into road trains and off to the concentrator (yet to be named) then it is pretty cheap mining. ~$30-40/tonne? $5m to mine the 125,000t.
Need to factor in some dilution and losing a big chunk of metal in toll treatment charges.
Cheapest Nickel producer on the ASX ( MC 22m ), page-6
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