Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

Why The Western Areas (ASX:WSA) Share Price Ended The Week Up 3%

The Western Areas Ltd (ASX:WSA) share price ended Friday up 3% after announcing a deal. 

The Western Areas Ltd (ASX: WSA) share price ended Friday up 3% after announcing a deal.

Western Areas, which was founded in 1999, is one of Australia’s largest nickel producers, as well as other base metal exploration and development projects. It claims to have two of the highest grade underground nickel mines in the world called Flying Fox and Spotted Quoll, both of which are within the Forrestania project area.

Western Area’s New Deal

Earlier on Friday, Western Areas announced an offtake sale and purchase agreement with Sumitomo Metal Mining, which is a major Japanese mining and refining conglomerate, for the delivery of premium high-grade nickel sulphide precipitate (NSP) being produced at the company’s Mill Recovery Enhancement Project located at the Forrestania Nickel Operation.

This contract expires on 30 June 2020, and although no set volume will be supplied it’s expected all product produced will be sold into the agreement. The delivery is on a ‘CIF’ basis into the port of Osaka.

Western Areas said one of the terms is increased payable rates compared to the company’s conventional run of mine floatation concentrate, given the high grade NSP nickel product being suitable for direct feed into the refining process.

[ls_content_block id=”14945″ para=”paragraphs”]

[ls_content_block id=”18380″ para=”paragraphs”]

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content