Panther (ASX:PNT) scopes impressive nickel-cobalt numbers for Laverton production
May 13, 2024Panther Metals’ scoping study over Coglia has modelled a globally competitive nickel-cobalt producer with a net present value of $409 million under its control southeast of Laverton in the Western Australian Goldfields.
The production operation is envisioned with a 10-year mine life, producing ore at an all-in sustaining cost of US$4.68 a pound (A$7.09/lb) after a capital expenditure of A$376.9 million to create a A$776.6 million cash flow and capex payback in just 3.2 years.
The company considers the figures to be exceptional, particularly considering its cautious 50 per cent recovery figure input and that the 32.3 million tonnes ore input used for the study excludes the bulk of its 102.8Mt nickel-cobalt estimate.
Panther Managing Director and Chief Executive Daniel Tuffin said the early-stage study outcomes for Coglia were amazing, showing an economically robust asset even at the modelled levels which he described as conservative.
“These results, which are based on less than a third of the current MRE’s size, demonstrate the incredible potential of the Coglia Nickel-Cobalt Project,” Tuffin said.
Tuffin added a planned 3.5 million tonnes a year environmentally friendly bioleach facility not only minimised upfront costs but reflected the company’s commitment to environmental stewardship to position Panther as a global leader in sustainable practices.
“As we delve deeper into the project’s development, the scalability of Coglia becomes increasingly apparent,” he said.
“We are on the cusp of unlocking its full potential, with substantial opportunities for future expansion and enhancement.”
Tuffin said the company looked forward to keeping shareholders updated as it progressed to the next stages of development confident that Coglia stood as a project of future national significance in Australia’s battery-powered future.
The company’s March resource upgrade at Coglia put the deposit in the top 30 per cent of global deposit tonnage, with Panther believing it can significantly upgrade the resource’s inferred component and enhance recovery estimates through infill drilling and metallurgical efforts.
And the Perth-headquartered explorer it is likewise bullish in adding raw tonnage, with a deeper unweather ultramafic lower end remaining open at depth beneath the lateritic upper horizon.
There are also three new extensional exploration targets covering over 4 square kilometres in the project’s southern end, presenting the opportunity to further solidify a world-class asset.
Panther used a nickel price of about US$18,0000 a tonne for the study, a trading price mark below the current US$19,135 level that is expected to go higher amid optimism for a price rebound and new billions available for nickel assets after nickel gained priority status on the Australian Critical Minerals List.
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