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Cassini’s greener pastures

or Cassini Resources Ltd managing flagged for Cassini’s West Musgrave
Fdirector Richard Bevan, there was one nickel-copper project which is currently
clear takeaway from his recent trip to Chi- subject to a PFS being managed by Oz
na to visit the company’s new major share- Minerals Ltd.
holder Tinci (HK) Ltd. Oz has spent more than $50 million on
“We don’t really get EVs down here [in the project since joining forces with Cas-
Australia], but up there it’s really in your sini in mid-2016. An interim update to ear-
face,” Bevan said. lier scoping studies on development of the
“You notice so many ‘green plates’ and flagship Nebo-Babel deposits pointed to
you also notice that their adoption is sig- an increased mine life of at least 15 years
nificant and there are charging stations with significantly better nickel and copper
everywhere. Along the regional highways recoveries.
there is plenty of charging infrastructure, “It’s a very high quality PFS,” Bevan
so they’re not worried about range or any- said. “They’re doing this PFS because
thing like that.” Richard Bevan they’re going to be the operator, they’re
Tinci, a wholly owned subsidiary of Chi- not doing this to dress it up for the market
nese chemical manufacturer Guangzhou and MACA Mining Ltd invest in a small or to flip the asset…and a number of these
Tinci Materials Technology Co Ltd, arrived way on to our register, build a relationship work packages are well beyond the PFS
on Cassini’s register earlier this year. and position themselves for either offtake stage.”
According to Bevan, one of the key at- or engineering contracts or mining con- Cassini is not required to fund any fu-
tractions for Cassini was Tinci’s strong tracts and I think it’s a great funding mech- ture work at West Musgrave until a deci-
customer base which includes the likes of anism. It’s worked very well in the past and sion to mine which is set for mid-2021. In
CATL, LG, Panasonic and the Aviation In- we see this as much the same. the meantime, the company will continue
dustry Corp of China. “It’s too early for us to promise them to focus on its Mount Squires gold and
“They are out there actively looking to anything yet, but they’re another option for Yarawindah nickel-copper-cobalt explora-
secure high quality nickel offtake,” he said. us as we look towards funding our share of tion projects.
“Previously Cassini has had companies the construction capital.” – Michael Washbourne
such as GR Engineering [Services Ltd] A $730-800 million capex has been

Primed for the nickel revival

All the right elements
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aUSTRaLIa’S PaYDIRT NOVeMBeR 2019 Page 39