Poseidon approval, shares rise PDF Print E-mail
KALGOORLIE MINER   
Wednesday, 14 November 2012 14:04

Poseidon Nickel shares have risen on news it has received conditional State Government approval to resume mining at the historic Mt Windarra nickel mine near Laverton.

Poseidon shares were up 4.5 per cent to close at 11.5 cents. The Andrew Forrest-chaired explorer said its application included all of the necessary environmental and infrastructure approvals which had been assessed by the Department of State Development and other agencies over the past few months.

A final formal approval is subject to Poseidon demonstrating it has project financing and offtake contracts in place by 30 June. Poseidon managing director David Singleton said the milestone gave statutory approval for the project subject only to final financing and offtake.

“We recently announced the completion of the definitive feasibility study for the project and, as announced previously, are continuing our preparations for financing,” Mr Singleton said.

 



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