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Birimian Ltd.
Summary
| Project: | Bougouni | |
|---|---|---|
| Deposit: | Goulamina | |
| Location: | Mali | |
| Commodities: | Lithium-Iron | |
| Date: | 7/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-7-2018: Birimian Ltd. announces a Pre-Feasibility Study report for its Goulamina deposit at the Bougouni project. Updated PFS results incl. pre-tax NPV of A $920M (10%), IRR of 49.5%, Initial ore reserve at project. Birimian Limited (ASX: BGS; Birimian | |
| Resources: | (Reserve, Prob.): 31.2Mt @ 1.56% Li2O, 1.03% Fe2O3 for 486Kt Li2O contained | |
| CP/QP: | [Overall Report]: Quinton de Klerk (Cube Consulting Pty Ltd.) | |
| ABSTRACT: | Birimian Limited (ASX: BGS; Birimian or the Company) is pleased to announce the completion of an updated PreFeasibility Study2 (PFS) for the Company’s wholly-owned Goulamina Lithium Project (Goulamina or the Project) located in southern Mali, the results of which demonstrate excellent project economics and significant potential for further upside. All material assumptions on which the production target and forecast financial information included in this announcement are based are set out in the information that follows. The PFS update, prepared by Ausenco Services Pty Ltd (Ausenco), confirms that Goulamina can be profitably developed as a large scale, low cost, hard rock lithium mine. The recommended development scenario comprises an open cut mining operation and a 2Mtpa mineral concentrating plant. Under this scenario, Goulamina would produce an average of 362,000t of 6% Li2O spodumene concentrate (Concentrate), or 53,704t of Lithium Carbonate Equivalent (LCE) annually, for the initial mine life of 16 years. Projected C1 costs (Brook Hunt) are A$374/t (US$281/t) of Concentrate produced, generating average annual EBITDA of A$171M (US$128M) and a 49.5% internal rate of return (IRR: pre-tax, real) | |
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