What We Do
Cosmic Boy
The high-grade nickel ore mined from Forrestania is processed through the Cosmic Boy Concentrator (CBC) and sold into offtake agreements with Jinchuan Group, China’s largest stainless steel producer and BHP Ni West.
The CBC treats the raw nickel and produces a consistent nickel concentrate product grading approximately 14% nickel. The concentrate produced from the Forrestania project is characterised by low impurities such as magnesium which makes it more desirable to smelters.
The concentrator consists of a three-stage crushing circuit, followed by a single closed-circuit ball mill and a system of flotation tanks and thickening/filtration system.
The recovery rates for Cosmic Boy currently average between 85% and 90%. The recovery rates refer to the percentage amount of nickel recovered from the raw ore during processing.
At CBC a Mill Recovery Enhancement Project (MREP) has recently been commissioned. The MREP incorporates the use of the Company’s BioHeap™ technology to recover nickel from the tailings waste stream. The nickel recovered is then converted into a high-grade nickel sulphide product which can either be mixed with the CBC floatation concentrate or sold as a separate premium product suitable to be processed in a refinery.

PRODUCTION STATISTICS
2019/2020 2020/2021 Item Unit Dec Qtr Mar Qtr Jun Qtr Sep Qtr Total Ore Mined Tns 144,932 142,056 160,858 137,280 Mine Grade Ni % 4.0% 4.2% 3.6% 3.0% Total Nickel Mined tonnes 5,849 5,896 5,841 4,147 Ore Processed (Milling/Concentrator) tonnes 143,409 142,200 151,302 148,801 Processed Grade Ni % 4.2% 4.1% 3.8% 3.0% Average Processing Recovery % 89% 89% 89% 85% Total Nickel in Concentrate Produced tonnes 5,399 5,154 5,114 3,756 Total Nickel Sold tonnes 3,991 6,038 4,777 4,064 Contained Nickel in stockpiles tonnes 4,389 3,456 3,738 3,099 Cash Cost Nickel in Concentrate A$/lb 3.06 3.07 3.17 4.44 Cash Cost Nickel in Concentrate inc MREP A$/lb 3.10 3.14 3.23 4.46 Cash Cost Nickel in Concentrate (inc MREP) US$/lb 2.12 2.07 2.12 3.17 Exchange Rate US$/A$ 0.68 0.66 0.66 0.71 Realised Nickel Price (before payability) A$/lb 7.01 8.31 8.09 9.28 2019/2020 2020/2021 Tonnes Mined Dec Qtr Mar Qtr Jun Qtr Sep Qtr Flying Fox Ore Mined tonnes 60,081 63,501 69,398 44,359 Grade Ni % 4.5% 4.3% 3.4% 2.9% Flying Fox Nickel Mined tonnes 2,712 2,754 2,343 1,269 Spotted Quoll Ore Mined tonnes 84,851 78,555 91,460 92,921 Grade Ni % 3.7% 4.0% 3.8% 3.1% Spotted Quoll Nickel Mined tonnes 3,137 3,142 3,498 2,878 Total Ore Mined tonnes 144,932 142,056 160,858 137,280 Grade Ni % 4.0% 4.2% 3.6% 3.0% Total Nickel Mined tonnes 5,849 5,896 5,841 4,147 2019/2020 2020/2021 Tonnes Milled and Sold Dec Qtr Mar Qtr Jun Qtr Sep Qtr Total Milled Ore tonnes 143,409 142,200 151,302 148,801 Grade % 4.2% 4.1% 3.8% 3.0% Average Recovery % 89% 89% 89% 85% Total Nickel in Concentrate Produced (ⁱ) tonnes 5,399 5,154 5,114 3,756 Nickel in Concentrate Sold tonnes 3,991 6,038 4,777 4,064 (i) Includes MREP Nickel tonnes produced.
Stockpiles Dec Qtr Mar Qtr Jun Qtr Sep Qtr Ore tonnes 77,426 80,581 90,136 78,615 Grade % 3.5% 3.6% 3.3% 3.4% Concentrate tonnes 11,146 3,668 4,987 2,575 Grade % 14.8% 15.4% 15.2% 15.9% Contained Nickel in Stockpiles tonnes 4,389 3,456 3,738 3,099 2019/2020 2020/2021 Financial Statistics Dec Qtr Mar Qtr Jun Qtr Sep Qtr Group Production Cost/lb Mining Cost (*) A$/lb 2.28 2.25 2.34 3.24 Haulage A$/lb 0.06 0.06 0.07 0.08 Milling A$/lb 0.53 0.55 0.53 0.83 Admin A$/lb 0.21 0.22 0.23 0.29 By Product Credits A$/lb (0.02) (0.01) - - Flotation Cash Cost Ni in Con (***) A$/lb 3.06 3.07 3.17 4.44 Total Cash Cost Ni in Con (***) incl MREP A$/lb 3.10 3.14 3.23 4.46 Cash Cost Ni in Con/lb (***) US$/lb (**) 2.12 2.07 2.12 3.17 Exchange Rate US$ / A$ 0.68 0.66 0.66 0.71 (*) Mining Costs are net of deferred waste costs and inventory stockpile movements.
(**) US$ FX for Relevant Quarter is RBA ave daily rate (Sep Qtr = A$1:US$0.71)
(***) Payable terms are not disclosed due to confidentiality conditions of the offtake agreements. Cash costs exclude royalties and concentrate logistics costs.
Note: Grade and recovery estimates are subject to change until the final assay data are received.