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Poseidon Nickel Ltd(ASX:POS, OTC:PSDNF) CEO Craig Jones speaks with Proactive a monthinto his new role. Jones says following the decision to defer therestart of the Black Swan project - due to adverse market conditions -the company has implemented initiatives to significantly reduce costsacross the business. POS continues to progress key workstreams forBlack Swan, including grid power studies with Western Power as well asadditional metallurgical testwork to confirm recoveries andconcentrate quality used in the November 2022 Bankable FeasibilityStudy.
Jonescommented on the quarterly: “Following the decision to defer therestart of the Black Swan project primarily due to adverse marketconditions, we have implemented initiatives to significantly reducecosts across the business. There has been a number of board andmanagement changes, reducing both the number of directors andexecutives in the business. There has also been a change in the careand maintenance operating model at Black Swan resulting in a materialreduction in annual operating costs without impacting the restarttimetable for the mine and processing plant when the decision torestart is made. The current cost savings implemented total circa $3million on an annualised basis.
We continue to progress key workstreams for BlackSwan, including grid power studies with Western Power, additionalmetallurgical testwork to confirm recoveries and concentrate qualityused in the November 2022 Bankable Feasibility Study, assessingaccommodation options in Kalgoorlie for the proposed FIFO workforceand continuing to engage with the two shortlisted offtake and debtfinancing providers."
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
Jonathan@proactiveinvestors.com
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