NOVA OPERATION

OWNERSHIP
IGO 100%

LOCATION
The Nova Operation is located in the Fraser Range, approximately 160km east-northeast of Norseman, 360km southeast of Kalgoorlie and 380km from the Port of Esperance in Western Australia.

The Ngadju People are the Traditional Owners of the land.

BACKGROUND

The Nova deposit was discovered in July 2012, with development of the current operation commencing in January 2015. Following a successful construction and commissioning phase, the operation commenced commercial production in July 2017, and reached its nameplate production rate in the December 2017 quarter.

PRODUCTION FY23

In FY23, Nova achieved total production of 22,915 tonnes of nickel, 10,266 tonnes of copper, and 803 tonnes of cobalt at a cash cost of A$3.54/lb Ni (payable).

FY24 GUIDANCE

Metal Production

Nickel: 21,500 to 23,500 tonnes
Copper: 8,500 to 10,000 tonnes
Cobalt: 700 to 800 tonnes

Cash Costs (payable)

A$3.40 to A$3.90/lb Ni

The clock is ticking on this very profitable operation with a break even cost of $7800/ton only150 km south of the Mulga Monster.