Odysseus' journey continues

DECLINE rehabilitation at Western Areas’ Odysseus mine has reached the 10,000m RL pump station 500m below the surface as part of early capital works to access the main Odysseus deposit.
Odysseus' journey continues Odysseus' journey continues Odysseus' journey continues Odysseus' journey continues Odysseus' journey continues

The Odysseus pit

With pump station mechanical and electrical designs also finished the early works program has wound up on time and on budget.

In conjunction with the early work program workers in South Africa have started dismantling a shaft headgear and winder that was bought to support hoisting shaft operations at Odysseus, with the equipment due to arrive in Perth in 2020.

Western Areas managing director Dan Lougher said work is also continuing on planned mining studies of the AM5/6 orebodies.

He said Odysseus' definitive feasibility study made no mention of the 57,600t of nickel in the AM5/6 deposits, which would provide upside and optionality in the mining production sequence.

"The Odysseus mine is underpinned by a robust study that demonstrates attractive, long-term financial returns and a mine life in excess of 10 years," Lougher said.

"The capital outlay for the coming years is expected to be funded from operating cashflows and cash reserves, while the project retains significant funding optionality into the future."

Lougher said the balance sheet was also strong with $144.2 million in the bank.