Ann: Nickel and Copper Resources at Ruth Well, page-9

This definitely won't set any firecrackers off, but it does prove we have another source for plant feed down the track.

The material diluted (after 20% processing loss) is valued at around AUD$123/t using the copper/nickel values in the announcement, or $18,696,000 for the full 152,000t.

I see an estimated cost of treatment through the refurbished plant is $32-$42/t for sulphide ores, perhaps this is the first we have seen in regards to estimated processing costs for the plant, which is 18km from the deposit (easy trucking).

All-in-all, i think they're bigger fish to fry for ARV to get back on track, however, Ruth Well/Zac both offer upside in the future as Electrical Vehicles gain momentum and the demand (and price) for Copper/Nickel increases. The Zac prospect to me is more appealing with grades, strike open, close to surface etc. which bodes well for feed source in 2020+

Cheers!