Consolidated Nickel Mines Ltd (CNM) is a private nickel company currently bringing the Munali nickel sulphide project in Southern Zambia into production, targeting Q1 2019. The mine has a JORC compliant resource of 6Mt at 1.0% Ni and is well located, with excellent transport and communication links in a well known mining jurisdiction. The mine expects to produce 25,000 tonnes of nickel concentrate in 2019.
Simon Purkiss – CEO
A metallurgical engineer, Simon has over 25 years of experience in the mining industry, with a particular focus on base metals and PGMs and the development and sale of new metallurgical processes. Prior to co-founding CNM, he was MD of European Nickel, which successfully developed a technology to heap leach nickel laterites to full bankable feasibility level. During his career, he has worked extensively across Africa, Australia, China, Russia and Turkey, including Business Development manager for BHP Billiton marketing the Billiton bacterial leaching processes.
What is your rationale for attending 121 Mining Investment?
CNM’s aim is to raise the Company’s profile at this event amongst future potential investors, introduce the market to the story and the Munali asset ahead of a potential IPO in 2019.
What recent news would you like to highlight to investors attending?
Imminent commencement of operations
What are your key goals for the next 3, 6 and 12 months?
Complete pre-production program and produce first nickel concentrate in Q1 2019
Meet production ramp up schedule, delivering 60,000 tonnes of ore per month by Q3 2019
Obtain a listing on an exchange with a strong growth profile focused on nickel
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
The key risk to CNM is commencing nickel production on schedule in Q1 2109 – to mitigate this risk, an extensive pre-production plan is currently being implemented to ensure production commences as planned, the Company is well capitalised with sufficient working capital available during the production ramp-up phase, complemented by an experienced operational management team on site.
The key challenge facing CNM is the nickel price, influenced by general market conditions. To mitigate this challenge, CNM is focused on being a low cost nickel producer, driving operating costs as low as possible so the operation is in the lowest half of the industry cost curve.
In a sentence, what do you think makes your company such a compelling investment?
Fully funded, near term low cost nickel production in a well known mining jurisdiction with excellent access to transport links and a proven management team.