I think a big thing that many people miss with the DFS is that...

I think a big thing that many people miss with the DFS is that the original life of mine plan is only based on the reserves that are underneath the original Odysseus pit.



As @entropylord mentions, AM6 adds to this mining inventory. Everything else they find also adds to this mining inventory.

If you look where Cosmos is, it's directly in between BHP's Mt Keith and Leinster nickel tenements. The strike length of this entire region is enormous. The south-eastern extension of Cosmos runs into BHP's Leinster tenements where BHP's undergrounds grade at around 2% nickel (some parts much more). If David Southam calls his channel the Golden Mile then Dan and Joe should be calling this area the Nickel Mile.


One of the main issues with anything they find underground to the south is that it's 1km underground. So they need more ventilation and will need to develop across. If they hit another another AM6 or much bigger to the south then they may need to sink another shaft or decline. But even after recoveries and payabilities, 2% nickel is +A$300/t rock (US$19,000/t x 2% x 80% recovery x 75% payability / A$/US$ 0.75). If they hit more 2% ore it's all economic, even if you include all those capital costs and underground haulage/hoisting costs.