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PrintWestern Areas has released its strongest results for seven quarters, recording its highest production and lowest unit costs in the three months to September 2013 (Q1 2014) since the December 2011 period.
Australia’s No 3 nickel producer lifted production by 37.5% to 8,290t of nickel in ore for the quarter (Q4 2013: 6,031t) at an average grade of 5.1% (4.7%) and unit cash costs of $A2.28/lb ($2.46).
Both mines at Western Areas’ Forrestania project in Western Australia contributed, Spotted Quoll underground producing a record 4,090t (2,584t) due to mining efficiencies and Flying Fox 4,200t (3,447t).
While nickel prices remained at “unsustainable cyclical lows”, the company says it increased cash at bank by $4.9M to $85.3M.
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