CAPITAL MARKETS

Flying Fox priced at $A150 million

WESTERN Areas will need to spend $A150 million to develop its Flying Fox nickel mine based on the results of a feasibility study assessing the underground mining of 64,500 tonnes of contained nickel reserves in the T1 and T5 deposits.

Michael Quinn
Flying Fox priced at $A150 million

According to the study by Golder Associates, cash costs will come in at $US1.85 ($A2.50) per pound, with nickel currently trading around $6.75/lb. Western Areas have an off-take agreement with neighbouring...

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