Western Areas: Ready for the future
WA nickel miner, Western Areas, has had a strong start to FY20 as it continues ramping up toward production at Odysseus, hitting all major guidance targets across its Forrestainia operations, while reporting some exciting results from its extensive exploration portfolio. For the September quarter, Western Areas reported mill production at 5259t (FY20 guidance between 21,000 and 22,000t), at a cost of $3.06 (FY guidance oat $2.90/lb to $3.30). Its net cash flow was up $21.6m to $165.9m, receiving a $33.1m boost from the sale of Kidman Resources to Wesfarmers. Nickel prices have surged to a five-year high, jumping almost 70pc since the start of the year, peaking at $US18,153/t off the back of increased interest in nickel for the EV…