The deposits are located within the West Musgrave Province of Western Australia, which is part of an extensive Mesoproterozoic orogenic belt. The Nebo and Babel deposits are hosted in a mafic intrusions of the Giles Complex (1068Ma) that has intruded into amphibolite facies orthogneiss country rock.

Mineralisation is hosted within tubular chonolithic gabbronorite bodies and are expressed primarily as a broad zones of disseminated sulphides and co-magmatic accumulations of, matrix to massive and breccia sulphides.

The deposits are near-surface and easily accessible by open pit mining with a pre-strip and initial ore stockpile for process plant commissioning of approximately 31Mt, some of which will be free dig. Processing rates between 6Mtpa and 23Mtpa have been thoroughly examined and an optimised rate of 10Mtpa selected. Stockpile strategies and in-pit dumping of waste have all been optimised to minimise operating cost and optimise mill feed grade.

Mining is modelled to be conventional drill, blast, load and haul and is assumed to be contractor operated during the first five years of operation, transitioning to owner operate in year six. The haulage fleet will comprise up to twenty-five 220t haul trucks and optionality is being maintained to allow for these trucks to be fully autonomous in the future.

Babel will be mined for the first two years to access higher grade, near-surface mineralisation, with Nebo then started in year 3.

Mining Rate: ~ 31Mtpa (pre-strip & stockpiling), ~34Mtpa (Yr1-5), ~43Mtpa (Yr6-LOM). Strip Ratio: ~3.3 LOM average.

The grinding circuit consists of two stages of crushing followed by two parallel vertical roller mills treating nominally 5Mtpa each. The second stage of crushing and vertical roller mills replace a traditional SAG Mill, Ball Mill and Pebble Crushing circuit. Vertical roller mills are widely used in the grinding of cement plant feeds and products, slag, coal and other industrial minerals, with thousands currently in operation worldwide. The mill has benefits in reducing power consumption by ~15%, no ball charge grinding media, higher flotation recovery and can be ramped up and down in response to the availability of low-cost renewable energy. The Vertical Roller Mill utilises compression style comminution principles taking 75mm rock to flotation feed size in the one machine.

An innovative mineral processing plant will be built on site.

A Bulk Separation flotation flowsheet producing separate copper and nickel concentrates will be used. The flowsheet has been developed to minimise primary grinding requirements with the primary separation size at 165 microns, saving significant grinding capital and operating expenditure in terms of grinding consumables and power draw. The flowsheet uses bulk rougher flotation, regrinding, 2 stages of bulk cleaning, then copper nickel separation at elevated pH. The nickel concentrate is a high-quality product with a low MgO content, is low in arsenic other impurities. The copper concentrate is also low in impurities and includes minor by-products of gold and silver.

With optimised mine scheduling, the first five years of operation will achieve higher production of circa 33ktpa of copper in concentrate and circa 27ktpa of nickel in concentrate. From year six onwards, production will average circa 27ktpa ........