NOT since the tin crisis of 1985 has the 145-year-old London Metal Exchange been forced to halt trading for one of its commodities.
That was until March 8 this year, when an unprecedented combination of Russia’s invasion of Ukraine and heavy short positions against the metal pushed the nickel price beyond $US100,000 per tonne.
Poseidon Nickel’s Peter Harold updates viewers on a feasibility study for the Black Swan open-cut pit, where the company is developing infrastructure and looking to bump up its mining inventory to get a resource update out after Easter. Outside of Black Swan, Poseidon is looking at Kalgoorlie as a potential refinery location after the Federal Government provided Poseidon’s partner with $120 million for its proposed Kalgoorlie pCAM refinery hub. Harold says the grant is a “wonderful initiative” and unlike anything seen before, and could well bolster the entire industry if similar initiatives cropped up.
Managing director Peter Harold joins Paydirt TV to provide an update on the proposed restart of Black Swan over the next 12 months, as well as the initial development plans for Lake Johnston.
View the recording from the conference below.
The Poseidon Nickel Ltd (ASX: POS) share price is soaring on Monday following the mining company’s latest drilling assay results.
At the time of writing, the nickel miner’s shares are swapping hands for 9.9 cents a pop, up 8.79%.
Poseidon Nickel (POS) has identified continuous massive nickel sulphides at its Silver Swan project in the Goldfields region of Western Australia.
Part of the wider Black Swan project, the company has been undertaking exploration on the Silver Swan Channel to increase the resource and reserve base for its feed the mill strategy.
Drilling by Poseidon at Silver Swan is setting the company up nicely to add even more tonnes to the high-grade nickel resource and reserve at its WA project.
Poseidon Nickel Ltd (ASX:POS, OTC:PSDNF) CEO Peter Harold tells Proactive Investors they're continuing to de-risk operations for the restart of its Black Swan nickel project, 50 kilometres northeast of Kalgoorlie in Western Australia. Two underground rigs are currently testing the potential down-plunge extensions and infilling existing inferred resources at the Silver Swan underground mine within the Black Swan project.
Managing Director Peter Harold discusses with Proactive, plans to restart operations at the Black Swan Project in Western Australia, which includes refurbishing the 1.1 million tonnes per annum processing circuit to maximise nickel concentrate production.
Peter Harold will be deliver the presentation for Poseidon Nickel at the New World Metals Conference held at the Perth Hyatt Hotel on 9th September.