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The Wingellina Project, part of the CMP, is one of the largest undeveloped nickeliferous ‘Pure Oxide’ limonite accumulations in the world, consisting of over 180Mt of ore at 1% Nickel of which 167Mt is categorised as Probable Mining Reserves. 

The mineralogy of the Wingellina ore is a major strength of the project, being a “Nickel Limonite”, or “Pure Oxide Tropical Laterite (POTL)” ore. Unlike most Australian nickel laterite projects, Wingellina ore has characteristics perfectly suited to High Pressure Acid Leaching (“HPAL”), with high iron grades (resource average 47% Fe$_{2}$O$_{3}$) and a very low concentration of magnesium (resource average 1.6% Mg). There are many examples of high iron, low magnesium lateritic nickel deposits which have successfully and profitably produced nickel and cobalt in metal or concentrate form. The characteristics of the Wingellina ore are similar to that of Moa Bay in Cuba and Ambatovy in Madagascar. The former began production using HPAL in 1959, and is still operating today. Moa Bay, Ambatovy and the Wingellina deposits all have similar metallurgical characteristics which result in relatively low acid consumption. Acid consumption has the largest impact on operating costs in the HPAL process and as such is an important consideration in adopting the HPAL technology. 

The Wingellina Identified Mineral Resource estimate defines an ore body containing approximately 1.8Mt of contained nickel metal and 139Kt of Cobalt metal. Significantly, over 92% of the resource is defined as a Probable Mining Reserve in accordance with the JORC code, and resource confidence is high. 

## WINGELLINA “APPROXIMATELY  1.8Mt NICKEL RESOURCE ” 

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