Poseidon Nickel's Strategic Agreement

Poseidon Nickel (ASX:POS) has confirmed that its agreement with Encore Minerals for the Windarra gold and nickel tailings project is now unconditional. This follows the fulfillment or waiver of all conditions precedent. The project will employ Draslovka's Glycine Leaching Technology, enhancing economic viability amid rising gold prices.

Outlook and Strategic Goals

Poseidon Nickel has solidified its strategic partnership with Encore Minerals for the Windarra tailings project. With the agreement now unconditional, Poseidon stands to receive significant financial benefits including an upfront payment, royalties, and support for rehabilitation efforts. The rising gold prices enhance the project's economic potential. Encore Minerals will spearhead the project's development, utilizing environmentally friendly leaching technology. Poseidon's broader strategy focuses on leveraging its substantial resource base to restart operations in Western Australia, aligning with its long-term growth objectives.

Executive Commentary on Agreement

We are pleased to confirm that the agreement with Encore Minerals has become unconditional, marking a significant step forward in the development of the Windarra project. The use of Draslovka's Glycine Leaching Technology aligns with our commitment to environmentally responsible mining practices.