The company has recently received a draft Independent Experts Report (IER) on the Definitive Feasibility Study (NYSE:DFS) for the Windarra project and expects to restart its high intensity drilling program this month.
Findings released so far include an initial life of 10 years, an increase in year 3 output to 15,000 tonnes nickel in concentrate from 10,000 tonnes and also C1 costs of US$3.57 per pound after co-products.
Phase one drilling is intended to extend the current resource and reserves at the C and D Shoots and phase two will explore additional mineralisation intersections under the A, B, G and H Shoots.
The drilling has been designed to extend the resource and reserve base at Mt Windarra prior to a final decision to commence mining in 2013.
Drilling carried out late last year had intersected nickel sulphides outside the current known ore mineralisation boundary, which could increase the size of the Mt Windarra Resource as this area was untested by WMC.
In total, Poseidon currently has a 144,000 tonne nickel resource which compares well with successful peers at start up.
This is located in two positions about 10 kilometres apart and includes the existing brownfields mine at Mt Windarra and a new discovery at Cerberus
Windarra Project is a higher grade nickel sulphide deposit that has already demonstrated high recovery levels through a standard nickel floatation concentrator.
The One2One Forum brings you five exciting companies presenting.
The event is FREE, but registration IS A MUST.
DETAILS: The event will be held on Wednesday 23rd November at the Radisson Blu Hotel, corner of Pitt and O'Connell Street, Sydney from 5.30pm.
The event will be followed by a wine and canapé reception where you can interact with the presenting MDs & CEOs.
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FULL PRESENTER LIST
Shree Minerals (ASX: SHH) is likely to be the next iron miner in Australia. It has received Commonwealth government of Australia approval for mining to commence immediately at the Nelson Bay River Iron Project (NYSE:NBR) in Tasmania. NBR does not require CAPEX infrastructure. Shree could be into production within six months of final approvals.
Liberty Resources (ASX: LBY) is focused on developing a large, low cost fertiliser project in Australia through its wholly owned subsidiary, Urea Corp of Australia. Liberty has agreement to supply up to 1 mtpa urea and 1 mtpa of ammonia via an off take with Marubeni Corporation, one of the world's largest trading groups.
Alexium International Group (ASX: AJX) was founded to commercialise a reactive surface treatment process originally developed by the U.S. Air Force. Alexium has operating locations in Australia, the United States, and Europe and is also listed in the U.S. (OTC QX: AXXIY), and Frankfurt (E7T.F) stock exchanges. Main focus is: Eco-friendly Flame Retardant (NYSE:FR) Treatments on Synthetic Fabrics; development of FR Polymer Additives for Non-textile applications; smart Surface Treatments for High Performance Materials and multi-functional Treatments for Military Applications.
Stratum Metals (ASX: SXT) has executed a binding Heads of Agreement for a major acquisition: for the consolidation of 86km2 in the historic East Menzies Goldfield. Stratum is aiming to commence contractor based mining within 12-18 months at East Menzies. Mountain Gold International Limited; a strategic international investor, invested AU$1.35M for a 40% ownership of Menzies Goldfield Limited to secure acquisition, provide early settlement to Resource Assets Pty Ltd and settle with the entire consortium mid-January 2013.
Sirocco Energy, formally Agri Energy (ASX: SCY) is a conventional, onshore oil and gas exploration company focused on the African continent. The company's primary focus is the unlocking of the resource potential of Block 14 in the Republic of the Sudan and in the heart of the prolific north east Africa oil region.
Poseidon Nickel (ASX: POS) is the "New Nickel Force in Australia" and will be the only new nickel sulphide producer ready to meet supply shortfalls in 2014/2015. Andrew Forrest (Fortescue Metals) worked together with MD David Singleton for 5 years to bring the project to fruition.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.