Cheers Ant... Good stuff.

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Kipper01

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19/07/16

21:47

Post #: 18311379
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Originally posted by antonswig ↑

Hi Nab, always respect your knowledge and input......this is the best I could do on your questions above with what is available from previous announcements POS have put out :

Beta Hunt and East Alpha now owned by Royal Nickel (previously Salt Lake) are air leg mining in Kambalda at a depth of 1.3 kms from surface. Salt Lake secured the regulatory approvals for the use of air leg mining. They have a dozen air leg miners at Beta Hunt. I believe this is all in the public domain.

The scoping study applied the use of a single boom jumbo for a maximum mining width of 3.5 metres resulting in 50% dilution in the mined forecast ore grades. Some air leg mining in specific areas was applied in the scoping study. This has previously been released to the market. The geotechnical engineering being completed will confirm the mining method, mining schedule and ground control to be applied at Silver Swan.

Poseidon's Tsingshan ore off-take agreement recovers 100% of the contained nickel and unlike other third party off-take agreements there is no non-sulphide discount due to their process so fundamentally very different to conventional off-take agreements that the market would be familiar with. This has previously been announced to the market.

Black Swan has the original Silver Swan milling circuit that can treat approximately 150,000 tonnes per annum should POS wish to restart the small circuit at very little cost. POS may choose to do this to blend SS ore with BS stockpiled ore as POS can produce a HG concentrate by blending SS and BS stockpiled ore down to a ratio of 1:10. This was announced to the market today.

Hope that covers your queries, and I too am hopeful the team assembled can have their day to shine in a solid nickel price environment. I firmly believe they have the smarts and connects to make sure they stay alive through the waiting game period.....without too much more dilution.....fingers and toes crossed.

GLTAH and PDYOR

Ant

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Cheers Ant... Good stuff.

POS Price at posting: 5.7¢ Sentiment: Buy Disclosure: Held
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Cheers Ant... Good stuff.

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