Australia's 'New' Nickel David Singleton Managing Director & CEO September 2013 HSBC Presentation


Annual General Meeting‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌


26th November 2015

What do we do when the Nickel price collapses?


  • Consolidate & integrate our assets

  • Get ready for a fast start up when nickel rebounds

  • Cut operating costs but don't cut ability to restart

  • Be thankful we are not in production!


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What have we done over the last year?


  • Completed the Acquisition of Lake Johnston - November 2014

  • Completed the Acquisition of Black Swan - March 2015

  • Lake Johnston prepared for restart

  • Silver Swan full ownership September 2015*

  • Convertible Notes renegotiated and extended

  • Emily Ann drilling commenced 50% Government funded

  • R&D funding cashback to provide adequate liquidity in 2016

  • Signed novel offtake agreement for Silver Swan

*Following lapse of Caeneus option 3

Lake Johnston is ready for production and costs are falling

  • Acquisition completed & ownership established

    • Computer systems, communications, licences and personnel fully transferred to Poseidon & functioning

    • New personnel in place and reinvigorating the site

  • Site reactivation commenced

    • Filtration circuit commissioned and operated

    • Crusher circuit restarted

    • Mills & flotation tanks prepped

    • Work on hold until nickel price recovers sufficiently

  • Licences submitted & granted

  • 2,100 tonnes of concentrate recovered & sold to Tsingshan

    • Currently being processed in China

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