Nickel option

PERTH-BASED nickel laterite group NiWest Limited has secured a number of option agreements to explore for nickel in the Eastern Goldfields.

The company, 60 per owned by Western Metals and 40 per cent by GME Resources, has now tripled its total controlled ground holding to nearly 900 square kilometres.

Speaking at the Australian Nickel Conference held in Perth last week, NiWest managing director Julian Ford used the analogy of a “hungry caterpillar” to describe the difficulties the company and the nickel laterite industry in general was experiencing. He said it could take many years for NiWest to become cash flow positive.

Following the option agreements Mr Ford said he recognised the importance of developing a resource base that could sustain a major operation for decades in the future.