Fraser Morgan

Description of Operation

The Fraser Morgan project completed the Pre-feasibility phase and the first phase of the Early Works I program in September 2007, allowing its development schedule to be accelerated to take advantage of current commodity price levels. The project moved into the Feasibility phase in October of 2007 and is scheduled for full execution in 2008. The Feasibility phase includes an early works II program that will continue development on the 34L main access ramp, start development on the 46L tram level, complete definition drilling and continue with all long lead engineering and procurement items. Mine production is scheduled to start in 2009 with full mine production in 2010, an estimated annual production capacity of 7,500 tones of refined nickel and an economic mine life of eight years.