The Wingellina Project, part of the CMP, is one of the  largest undeveloped nickeliferous ‘Pure Oxide’ limonite  accumulations in the world, consisting of over 180Mt of  ore at 1% Nickel of which 167Mt is categorised as Probable  Mining Reserves. The mineralogy of the Wingellina ore is a major strength  of the project, being a “Nickel Limonite”, or “Pure Oxide  Tropical Laterite (POTL)” ore. Unlike most Australian  nickel laterite projects, Wingellina ore has characteristics  perfectly suited to High Pressure Acid Leaching (“HPAL”),  with high iron grades (resource average 47% Fe$_{2}$O$_{3}$)  and a very low concentration of magnesium (resource  average 1.6% Mg). There are many examples of high  iron, low magnesium lateritic nickel deposits which have  successfully and profitably produced nickel and cobalt  in metal or concentrate form. The characteristics of the  Wingellina ore are similar to that of Moa Bay in Cuba and  Ambatovy in Madagascar. The former began production  using HPAL in 1959, and is still operating today. Moa Bay,  Ambatovy and the Wingellina deposits all have similar  metallurgical characteristics which result in relatively low  acid consumption. Acid consumption has the largest impact  on operating costs in the HPAL process and as such is an  important consideration in adopting the HPAL technology. WINGELLINA DEPOSIT The Wingellina Identified Mineral Resource estimate defines  an ore body containing approximately 1.8Mt of contained  nickel metal and 139Kt of Cobalt metal. Significantly,  over 92% of the resource is defined as a Probable Mining  Reserve in accordance with the JORC code, and resource  confidence is high. WINGELLINA “APPROXIMATELY  1.8Mt  NICKEL  RESOURCE ”