(MENAFN- ProactiveInvestors)
() has received a substantial shareholder notice from Robmar Investments Pty Limited which has an initial 8.84% beneficial interest in the company.
Robmar acquired 35580040 shares between 8th May 2015 and 21st August 2015 at an average price of $0.05 each.
This took its total holding up to 43386275 shares.
Commissioning of the Nicolsons CIP plant (nominal capacity of 150000tpa) is nearing completion.
The current mine plan provides an initial four years of production at the anticipated 30000 ounce per annum with potential for resource and mine-of-life growth.
All in sustaining costs (AISC) for Nicolsons are forecast to be A$900 an ounce and with the price of gold over A$1570 an ounce this provides significant margins.
These margins will allow Nicolsons to be cash flow positive in Q4 2015.
The company also has a hedge book of over 15000 ounces at A$1568 an ounce.
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