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Nickelore Limited is a Western Australian Company committed to the development of the Canegrass Nickel Cobalt Project – a major nickel mining and processing operation planned to begin production in 2011.
Nickelore Limited has completed a scoping study into the Canegrass Heap Leach Nickel project 70 kilometres north east of Kalgoorlie, Western Australia. The study has confirmed the potential for a 20,000 tonnes-per-annum nickel plant (CAPEX $865 million) generating a positive net cashflow in excess of of $182 million a year. Nickelore has assembled a leading professional team to lead the development of the project.
The Company’s additional focus is on exploring, realising and expanding the economic potential of the Lake Marmion and Goongarrie East projects in Western Australia’s north eastern Goldfields and in developing it's Papua Gold and Copper Project.
The Company has entered into a heads of agreement to aquire up to a 51% interest in a Gold and Copper Project in Papua Province, Indonesia ("Papua Gold & Copper Project"). The Papua Gold & Copper Project, which covers an area of approximately 91 square kilometres and is located in the Central Papua Province of Indonesia, comprises two general survey mining licences. The area is approximately 45 km along strike from the Freeport Grasberg operations and the world class Wabu deposit.
Members of the Nickelore Board and Management team have proven records in mineral exploration, project development and project financing.
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"NIO is an emerging new Ni laterite player. We are impressed with the technical team compiled for project assessment and given the solid resource base we would expect to see some re-rating. A peer comparison shows that NIO has more upside than downside. The outcome of study results will be critical success determinants"..
Tolhurst Research – Naji Aoukar Nov 07 more...
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Notice to Shareholders
Annual General Meeting
Tuesday 30 November 2009
10.00am WDST
Notice of Meeting & Proxy Form
The Vic Hotel
226 Hay Street,
Subiaco, Western Australia

Facts about Nickel
Nickel is a silvery-white metal that takes on a high polish. It belongs to the transition metals, and is hard and ductile. Nickel is used in many industrial and consumer products, including stainless steel, magnets, coinage, and special alloys.
It is also used for plating and as a green tint in glass.
Today 65% of nickel is used in the production of Stainless Steel. |
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Scoping Study points to strong returns for Nickelore project
• Nickelore’s Canegrass Scoping study results support plans for a 20,000 tpa heap leach project
• Project delivers A$182 million net cash per annum (before tax) at long term nickel price of US$18,600/t Nickel
• NPV of A$757 million (before tax, discount rate of 8%)
• Technical studies show Canegrass ore is well suited to heap leach treatment
• Capital cost estimate of A$865 million for a 20,000 tpa Nickel extraction plant
• Cash operating costs of US$2.67/lb Nickel (after Cobalt credits)
• Company commits to pre-feasibility phase of development more... |
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Nickelore Limited
Level 2, 45 Richardson Street,
West Perth WA 6005
PO Box 568,
West Perth WA 6872
tel: +61 8 9481 2433
fax: +61 8 9322 5907
email: info@nickelore.com.au
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© 2007 Nickelore Ltd |
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| formerly Halcyon Group Limited |
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