Overview of Widgie Nickel's Scoping Study for Mt Edwards Nickel Project

Widgie Nickel Ltd (ASX: $WIN) has released the results of the Scoping Study for its Mt Edwards Nickel Project, showcasing the potential for a standalone integrated nickel mine and concentrator. The study emphasizes the compelling case for a standalone concentrator with low operating costs and higher payabilities, projecting a production rate of approximately 800,000tpa. The company's Managing Director and CEO, Mr Steve Norregaard, expressed confidence in the robust nickel project and its potential to progress to the Pre-Feasibility Study stage. The Project, located near Widgiemooltha in the Eastern Goldfields region of Western Australia, is estimated to generate AUD$402M free cash over a 94-month period, with a maximum negative cashflow of AUD$269.2M in month 16 at a US$24,000/t Ni price. The study also identifies additional mineral resources that could extend the mine life beyond the projected period.

Executive Commentary on Mt Edwards Nickel Project

Mr Steve Norregaard, Managing Director and CEO of Widgie Nickel, expressed confidence in the robust nickel project and its potential to progress to the Pre-Feasibility Study stage. He highlighted the strategic value and uniqueness of Widgie's Nickel Resource base, emphasizing the long-term nature of the standalone project. The company is considering downstream processing options to improve viability and is optimistic about the future rebound of nickel prices.

Summary of Mt Edwards Nickel Project Scoping Study

Widgie Nickel Ltd's Scoping Study for the Mt Edwards Nickel Project demonstrates the potential for a standalone integrated nickel mine and concentrator with low operating costs and higher payabilities. The study projects a production rate of approximately 800,000tpa and estimates the Project to generate AUD$402M free cash over a 94-month period. The company's Managing Director and CEO, Mr Steve Norregaard, expressed confidence in the robust nickel project and its potential to progress to the Pre-Feasibility Study stage. The study also identifies additional mineral resources that could extend the mine life beyond the projected period. Widgie Nickel is optimistic about the future rebound of nickel prices and is considering downstream processing options to improve viability.