The Avebury nickel project is located on the West Coast of Tasmania, Australia.
During 2010, the operation was on care on maintenance as we commenced extensive technical investigations and studies to ensure sustained economic viability of the operation into the future.
The review included technical analysis of geology, mine planning, process plant engineering and metallurgy, in addition to surface drilling work. The results of this are being analysed in combination with near-mine exploration results, economic modelling and the company’s internal long-term commodity price forecasts.
During 2011, the company received interest from other potential partners and operators with a stated interest in the mine. As a result, the company is conducting a formal expression of interest process for participation in, or potential sale of, Avebury.
Meanwhile, we are continuing to develop a comprehensive restart and operating plan for the mine and continuing to model the economic benefit and strategic impact of operating it under our ownership.
We will consider all proposals to develop or acquire Avebury and believe this will increase the likelihood and accelerate the timing of the mine being re-commissioned in the medium-term.