Underground mining specialist Barminco has been selected as the preferred tenderer for the excavation of the boxcut and portal as well as the three-year mining contract.

Watpac Civil and Mining has been named as the preferred tenderer for the tailings storage facility, while RJ Vincent has been nominated to build the Nova aerodrome, comprising a 2km sealed airstrip, and 35km access road between the mine and Eyre Highway.

Sirius has secured a second-hand 500-person camp which is currently being stored in Queensland.

Kerman has been selected to procure, transport and construct the accommodation village.

The company expects documentation for all contracts with preferred tenderers to be signed before January.

Sirius is also making progress on the financing front, with the four lead arrangers for the financing, Australia and New Zealand Banking Group, BNP Paribas, HSBC Bank Australia and Westpac Banking Corporation, visiting the site earlier this week.

Finalisation of the financing remains on track for the end of the year.

Detailed negotiations are also underway with potential offtake partners over around half of the planned nickel production for three years and all of the copper production over the same period.

Nova is set to produce 26,000 tonnes of nickel, 11,500t copper and 850t cobalt per annum in two separate concentrates.

The project management plan for Nova was approved by the Department of Mines and Petroleum and subject to final approvals, construction is set to begin in late January.

"The Nova nickel project continues to progress well and in line with timelines previously announced and the calibre of the project is such that Sirius is attracting excellent companies with which to partner," Sirius managing director Mark Bennett said.

"We also expect to conclude at least one offtake agreement in the near future, although this is not a prerequisite for the finalisation of the project financing, such is the quality of Nova."

Sirius will hold its annual general meeting in Perth this afternoon.

Shares in Sirius dropped 2.8% to $2.75.