Western Areas Nickel sales for June quarter highest for the year

Company News

by Rachael Jones

Western Areas (ASX:WSA) is pleased to report a strong quarter cashflow and met all production and cost guidance metrics for FY19.

The early works programme at the Odysseus project was completed during the quarter, expecting to underpin Western Areas’ long term nickel production.

The Forrestania operation continued to operate in line with plan, producing 21.7 ktn of nickel in concentrate for the full year.

June quarter sales of 5,890 nickel tonnes in concentrate were the highest for the year, benefiting from the drawdown of nickel concentrate awaiting shipment at the end of the previous quarter.

Cash plus nickel sales receivables continued to build during the quarter, increasing to $157.1 million compared March quarter $149.9m, confirming the robustness of the underlying business.

Shares in Western Areas (ASX:WSA) are trading 1.1 per cent higher at 47 cents.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.