Hi All,
My goodness me, what a kufuffle over the recording of the agm.....
I was there and was the silly doofus asking many of the questions. Here are a few of my thoughts -:
The PH presentation was excellent. It was thorough and reflected a methodical, commercially smart, comprehensive summation of the company's position whilst outlining the business strategies being pursued that will take this company forward. In short, I couldn't be more happy about our prospects, we just need a little more patience and we will be rewarded with a large uplift in the value of this company IMO.
My Key Takeaway Points:
- Expected production of 15,000 of nickel concentrate per annum target
- Trucking ore from Windarra to Black Swan (320kms) - not a problem
- LJ, further exploration anticipated next year and targets being identified, NewExco on board and ultramafic drilling program will be implemented
- Strong focus on firming up and expanding resources to extend life of mine from 25 months to at least 5 years (& go from inferred to indicated)
- Extension of life of mine is key to getting a debt facility- discussions with financiers happening already
- Great exploration targets in Golden Swan, Southern Terrace, Silver Swan, below the the pit drilling planned etc
- Mining at depth (my question), no real issue - mine slowly and carefully - remediate with fill, waste tailings & cement
- Liaising with the proposed battery (Pure Battery - Korean company I think) plant in Kalgoorlie for 2024, high potential for uplift in contained nickel to around 80% and reduced costs for us
- Adjacent companies with stranded assets may want to provide feed ore for Black Swan plant
- Considerable preliminary startup works completed and planned, all u/g ladder replaced at $2m plus railings & walkways
- Grid power access agreed, investigate micro-grid option (another of my whacky questions)
- Startup still anticipated late 22
- F.I.D around mid 22
- Mt Windarra gold tailings - looking to partner and will provide $30m free cash
The core results from Tundra-Mute intersection, subject to assaying and chemistry composition - look fantastic and the geo types were really excited so we can anticipate very high grade. PH said that for most geos, picking up and handling a core like this one is a 'once in a lifetime' experience.
Afterwards, PH came up and introduced himself to me and we had a decent chat. Folks; I am so confident about our prospects and have also started to have a man crush on PH, so much so that I missed the chance to spend quality time with my dream companion - TB! My only other complaint is that for the tea and bikkies, it was an epic fail. They didn't have any milk on hand and the coffee machine was broken. The bikkies were cheap and nasty - you can pick up Tim Tams from Woolies for a measly $2 (hopefully our sp one day) so no excuses.
Cheers
U
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