NC1 holders/critics need to do more research tbh.MLX has been...

NC1 holders/critics need to do more research tbh.

MLX has been pursuing low capex startups and high grade pits for ages.

Laterites are the form of the deposit, limonite is the kind of ore. Saprolite is a deeper layer and minerals hosted there can be rich (usually in nickel) but often require HPAL processing, as do some limonite ores.

ore minerals of limonite include ferruginous goethite (SRL, AUZ etc), lithiophorite, and manganese asbolane (CNJ/BAR/GAL), shown in the below ternary of Al, Ni and Co (source: MLX):


Wingellina has Ni and Co rich asbolanes in 4 types. Asbolane is the best of ores to leach and is usually the focus of higher grade, lower capex feasibilities. Lithiophorite is more complex and the more predominantly intermediate types like 'III' will report to tailings if a low cost method is selected.

Here's an idealised cross-section of Murrin Murrin WA, showing the black asbolane lenses (source: USGS):

High grade starting pits will likely target these richer asbolane lenses, IMO.

However it's not clear to me yet how the new CSIRO Direct Nickel process that uses nitric acid instead of sulfuric preferentially selects the above different ores. It would be worth digging into $QPM feasibility studies and pilots if they are available.

disclosure: held indirectly through BSX