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Bacanora Lithium Plc
Summary
| Project: | Zinnwald | |
|---|---|---|
| Deposit: | Zinnwald | |
| Location: | Germany | |
| Commodities: | Lithium | |
| Date: | 6/5/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 5-6-2019: Bacanora Lithium Plc announces a Feasibility Study report for its Zinnwald deposit at the Zinnwald project. Feasibility Study results incl. post-tax NPV of EUR €270M (8%), IRR of 21.5%, maiden reserve. Bacanora Lithium Plc, the London traded lit | |
| Resources: | (Reserve, P+P): 31.20Mt @ 3004ppm Li | |
| CP/QP: | [Overall Report]: Kersten Kuhn, Matthias Helbig (G.E.O.S. Ingenieurgesellschaft mbH) | |
| ABSTRACT: | Bacanora Lithium Plc, the London traded lithium company, is pleased to announce the results of the NI 43-101 Feasibility Study ('FS') for the Zinnwald Lithium Project in Germany ('Zinnwald' or 'the Project') which confirm the positive economics and favourable operating costs for the production of 5,112 tonnes per annum ('tpa') (~7,285 tpa LCE) of battery grade Lithium Fluoride ('LiF'), a high value, downstream product used in the manufacture of lithium battery electrolytes for the European electric vehicle industry. With a long life of project of 30 years, the FS estimates a pre-tax project Net Present Value ('NPV') of €428 million (8% discount rate); an Internal Rate of Return ('IRR') of 27.4%; favourable Life of Mine ('LOM') operating costs and a 46% EBITDA operating profit margin. Bacanora acquired an initial 50% interest in Deutsche Lithium GmbH ('DL') (the 100% owner of Zinnwald) in February 2017 and has an option to acquire the outstanding 50% ('the Option') that it does not own. The Company is pleased to announce it has reached an agreement with the administrators of SolarWorld AG ("SolarWorld"), which holds the remaining 50% interest, to extend the Option period from August 2019 to February 2020. | |
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