That is some scoping study.The economics of the project are just...

That is some scoping study.

The economics of the project are just remarkable.

HIGHLIGHTS
• Scoping Study indicates 70% Sirius owned Nova-Bollinger as a technically low risk and economically robust nickel project
• Projected life of mine nickel revenue of A$4.6 billion (on a 100% basis)
• Projected net cash flow of A$2.8 billion (on a 100% basis including capital)
• Estimated C1 cash operating cost of A$1.75/lb Ni in concentrate (after by-product credits) positions Sirius in the lowest 20% of nickel producers globally
• Estimated capital cost to first concentrate production of A$471 million including A$51 million of contingency
• Production of premium quality separate nickel and copper concentrates planned to commence in mid-2016 with an initial mine life of 10 years
• 1.5 mtpa throughput plant resulting in average annual production of 28,000t nickel and 11,000t copper in concentrate
• Mining inventory of 13.9mt grading 2.0% nickel, 0.82% copper and 0.07% cobalt for a contained 276,000t nickel, 114,000t copper and 9,300t cobalt
• Over 91% of the tonnes and 95% of the nickel metal included in this mining inventory are in the Indicated Resource category
• Definitive Feasibility Study on track to be completed by mid 2014 enabling underground development and on-site construction to start in Q3 2014
• In excess of A$200 million expected to be paid in WA State royalties

Milesy