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Alita Resources Ltd.
Summary
| Project: | Bald Hill | |
|---|---|---|
| Deposit: | Bald Hill | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 1/14/2020 | |
| Report Code: | JORC | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Mine Development | |
| Report details: | 14-1-2020: Alita Resources Ltd. announces a Supporting Acquisition report for its Bald Hill deposit at the Bald Hill project. Independent Specialist Report on the Mineral Assets of Alita Resources Ltd.. Deloitte Financial Advisory Pty Ltd (Deloitte) has b | |
| Resources: | (Reserve, Prob.): 11.3Mt @ 1.01% Li2O, 160ppm Ta2O5 | |
| CP/QP: | [Overall Report]: Karen Lloyd, Scott McEwing, Steve Howard, Rebecca Getty (SRK Consulting (Australasia) Pty Ltd.) | |
| ABSTRACT: | Deloitte Financial Advisory Pty Ltd (Deloitte) has been engaged by KordaMentha Pty Ltd (KordaMentha) in its capacity as voluntary administrators of Alita Resources Limited (Administrators Appointed) (Receivers and Managers Appointed) (Alita or the Company) to prepare an Independent Valuation Report (IVR) expressing its opinion as to the current market value of the assets of Alita. SRK Consulting (Australasia) Pty Ltd (SRK), as Technical Specialist, has been requested by KordaMentha to provide an Independent Specialist Report (Report) on the mineral assets of Alita (Mineral Assets) in support of the IVR, and SRK understands that its Report is to be included as an appendix to Deloitte’s IVR. The principal mineral asset of Alita is the wholly owned Bald Hill Lithium and Tantalum Mine (Project) located in the Eastern Goldfields region of Western Australia. Through its 15% equity interest in Cowan Lithium Limited, Alita also holds an interest in the Cowan Project, a lithium and tantalum exploration mineral asset situated contiguous with the Project. SRK’s representatives, Karen Lloyd, Scott McEwing and Steve Howard undertook a one-day site inspection to the Project on 9 October 2019. SRK’s scope of work included an assessment of the reasonableness of the technical inputs to the Project’s discounted cashflow model (Model) supplied by KordaMentha. Where deemed warranted, SRK has modified production and capital and operating cost projections for use by Deloitte. Additionally, SRK has prepared a valuation of the Project and the Cowan Project (collectively the Projects) using an analysis of market-based (comparable sales) and cost-based methods. SRK’s recommended valuation ranges and preferred values are detailed in the Valuation section (Section 7) of this Report and are summarised in Table ES-1. The valuation ranges were developed on the basis of the perceived potential of the Projects. SRK’s preferred values are positioned at the 50th percentile, given the current market uncertainty for future lithium prices. | |
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