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Australia’s New Nickel
Diggers & Dealers Mining Forum
David Singleton, MD & CEO
August 2015
2Private & Confidential
Indonesian Ore Stocks in China are well down as predicted
3Private & Confidential
Philippines Ore exports up - but not much
4Private & Confidential
Chinese NPI reducing as predicted albeit more slowly
5Private & Confidential
As a result Ferronickel and Refined Nickel imports up
Australia’s New Nickel
Diggers & Dealers Mining Forum
David Singleton, MD & CEO
August 2015
7Private & Confidential
Projects within 300kms centred around Australia’s Major Nickel Region
88Private & Confidential
3 Production ready nickel projects in Western Australia
• Black Swan Nickel Project
• Lake Johnston Nickel Project
• Windarra Nickel Project
9Commercial in Confidence
Windarra Nickel Project
10Private & Confidential
Long section of Mt Windarra at mine closure
Mineralisation
Original Long SectionPre Drilling
11Commercial in Confidence
Mineralisation
Upper G Shoot
12Private & Confidential
Mineralisation
H Shoot
13Private & Confidential
Mineralisation
C & G Deeps
14Private & Confidential
Mineralisation
D Deeps
15Private & Confidential
Mineralisation
F Shoot
16Commercial in Confidence
Windarra Nickel ProjectDiscovery of Cerberus
17Private & Confidential
Development of the Windarra Project
Mt Windarra
South WindarraOpen Pit
Cerberus Greenfields Orebody
18Private & Confidential
Cerberus: Further Developments
Resource Extensions
ModelledPositionsWith Limited to No Drill Testing
19Private & Confidential
Mt Windarra - Operational Site
20Commercial in Confidence
Black Swan Nickel Project
21Private & Confidential
The Black Swan Process Plant and open pit resource was bought by Poseidon from Norilsk in July 2014
22Private & Confidential
Black Swan pit showing smeltable reserves
Ore for smeltable
grade concentrate
23Private & Confidential
Black Swan resources available for non-traditional uses
24Commercial in Confidence
Lake Johnston Nickel ProjectMaggie Hayes
25Private & Confidential
Windy HillCamp
Maggie HaysMine
Tailings Dam
Concentrator and Administration
Emily Ann Mine
Lake Johnston includes 2 mines, a concentrator and camp in operational ready condition
2626Private & Confidential
MINED OUT SLC
North Shoot
RemainingSLC
Suture Zone
Maggie Hays - Increasing Life by over 3 times
2727Private & Confidential
Maggie Hays
North ShootExpansion Opportunity
Maggie Hays South Potential for Future
Production Western ZoneOpportunity
Initial resource extension targets
28Commercial in Confidence
Lake Johnston Nickel ProjectEmily Ann
29Commercial in Confidence
SurfaceDecline
Structurally Offset Targets
Fault Movement=into page (westward)
Fault Movement=out of page (eastward)
Emily Ann was a 4% Ore Body truncated by Toolangi Fault
30Private & Confidential
Supporting Modelled
DHEM Targets
Electromagnetics support strong targets dislocated from the original ore body.
31Private & Confidential
Planned Drill Holes
EIS Grant will support drilling these targets.
32Private & Confidential
High Quality Process Plant
3 stage crushing circuit operating
Grinding Mills operating
Flotation Cells inspected
Concentrate Filtration & Storage facilities tested
Processing capacity of 1.5m tonnes per annum
33Private & Confidential
Windy Hill Camp
277 Rooms available180 required
34Private & Confidential
Poseidon has the second largest published nickel sulphide resource in Australia*
0
50
100
150
200
250
300
350
400
450
500
Publ
ishe
d R
esou
rces
(‘000
tonn
es N
icke
l)
*Australian nickel sulphide producers and developers excluding BHP(B). Data compiled from Deutsche Bank report dated 28.07.14.
35Private & Confidential
Summary
• Lake Johnston can be in production in 4 months• Definitive Feasibility Study completed• Fully permitted• Major contracts either signed or nearing signature• Offtake Contracts and working capital loans agreed subject to final contract• 8,000 tonnes in nickel concentrate• All in sustaining cost of US$5.19
• Windarra and Black Swan can be in production in circa 6 months• Start up studies completed• Final permitting updates submitted• Circa 9,600 tonnes nickel per annum in concentrate• All in sustaining cost estimated at US$5.40
