NiCo Resources

NiCo Resources (ASX: NC1) is actively developing and exploring the Central Musgraves project (CMP) in Western & Southern Australia. The project hosts the world class Wingellina Ni-Co deposit which contains a nickel-cobalt-scandium lateritic Mineral Resources in excess of 200 million tonnes, containing 1.95 million tonnes of nickel and 150 thousand tonnes of cobalt, along with a probable Ore Reserve of 164.8 million tonnes containing 1.56 million tonnes of Nickel and 123,000 tonnes of cobalt. A Phase 1 Feasibility Study (+/-25%) was completed in 2008 and updated in 2012 to envision a HPAL processing plant capable of producing between 30,000 to 39,000 tpa of nickel. This would indicated a potential project mine life in excess of 30 years based on current reserves alone. Due to outcropping nature of the orebody and intense oxidation of the ores, mining is anticipated to be low cost as the ores can be extracted without the requirement for blasting. Mining studies, completed as part of...