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 Tsingshan Group, China’s largest stainless steel producer and BHP Billiton.

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.


  • 18/1919/20YTD
    ItemUnitMar QtrJun QtrSep QtrDec QtrTotal
    Total Ore MinedTns141,595133,312147,356144,932292,288
    Mine GradeNi %4.30%4.10%3.90%4.00%4.00%
    Total Nickel Minedtonnes6,0665,4235,8055,84911,654
    Ore Processed (Milling/Concentrator)tonnes146,935152,329149,729143,409293,138
    Processed GradeNi %4.20%4.00%3.90%4.20%4.10%
    Average Mill Recovery%88%88%89%89%89%
    Total Nickel in Concentrate Producedtonnes5,4485,4335,2595,39910,658
    Total Nickel Soldtonnes5,1895,8905,0513,9829,033
    Contained Nickel in stockpilestonnes4,5103,3173,3153,778
    Cash Cost Nickel in ConcentrateA$/lb2.822.963.063.13.07
    Cash Cost Nickel in ConcentrateUS$/lb2.
    Exchange RateUS$/A$0.710.70.690.680.69
    Realised Nickel Price (before payability)A$/lb8.318.0911.59.3910.57

    (*) Noting the export shipment missed the quarter end, leaving port on 1 January 2020

  • 18/1919/20YTD
    Tonnes MinedMar QtrJun QtrSep QtrDec QtrTotal
    Flying Fox
    Ore Minedtonnes56,38657,21361,41460,081121,495
    GradeNi %4.50%4.20%3.70%4.50%4.10%
    Flying Fox Nickel Minedtonnes2,5502,3812,2802,7124,992
    Spotted Quoll
    Ore Minedtonnes85,20976,09985,94284,851170,793
    GradeNi %4.10%4.00%4.10%3.70%3.90%
    Spotted Quoll Nickel Minedtonnes3,5163,0423,5253,1376,662
    Total Ore Minedtonnes141,595133,312147,356144,932292,288
    GradeNi %4.30%4.10%3.90%4.00%4.00%
    Total Nickel Minedtonnes6,0665,4235,8055,84911,654
  • 18/1919/20YTD
    Tonnes Milled and SoldMar QtrJun QtrSep QtrDec QtrTotal
    Total Milled Oretonnes146,935152,329149,729143,409293,138
    Average Recovery%88%88%89%89%89%
    Total Nickel in Concentrate Produced (i)tonnes5,4485,4335,2595,39910,658
    Nickel in Concentrate Soldtonnes5,1895,8905,0513,9919,042

    (i) Includes MREP Nickel tonnes produced.
    (*) Noting the export shipment missed the quarter end, leaving port on 1 January 2020

  • 18/1919/20
    StockpilesMar QtrJun QtrSep QtrDec Qtr
    Contained Nickel in Stockpilestonnes4,5103,3173,3154,389
  • 18/1919/20
    Financial StatisticsMar QtrJun QtrSep QtrDec QtrYTD
    Group Production Cost/lb
    Mining Cost (*)A$/lb2.
    By Product CreditsA$/lb-0.03-0.03-0.03-0.02-0.02
    Flotation Cash Cost Ni in Con (***)A$/lb2.822.963.063.063.06
    Total Cash Cost Ni in Con (***) incl MREPA$/lb--
    Cash Cost Ni in Con/lb (***)US$/lb (**)
    Exchange Rate US$ / A$0.710.70.690.680.69

    (*) Mining Costs are net of deferred waste costs and inventory stockpile movements.
    (**) US$ FX for Relevant Quarter is RBA average daily rate (Dec Qtr = A$1:US$0.68)
    (***) 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