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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Finniss | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 6/25/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 25-6-2018: Core Lithium Ltd. announces a Pre-Feasibility Study report for its Finniss deposit at the Finniss project. PFS results incl. pre-tax NPV of A $140M (10%), IRR of 142%, 26mo LOM at the project. Emerging Northern Territory lithium producer, Core | |
| Resources: | (Resource, I+I): 2.03Mt @ 1.5% Li2O for 30Kt Li2O contained | |
| CP/QP: | [Overall Report]: Steven Biggins (Internal) | |
| ABSTRACT: | Emerging Northern Territory lithium producer, Core Exploration Ltd (ASX: CXO) (Core or the Company) is pleased to announce the release of its Pre-Feasibility Study (PFS) for the Grants Lithium Deposit, a key component of the Company’s wholly-owned Finniss Lithium Project, located near Darwin in the Northern Territory. Core has taken a major step forward in its goal to become a major Australian lithium producer through the delivery of this PFS, which seeks to unlock a new lithium province near Darwin in the Northern Territory. Core’s development of the Finniss Lithium Project is initially centred on production from the high-grade Grants deposit as an open pit mining operation, and construction of a simple 1Mtpa Dense Media Separation (DMS) process plant that will produce a high quality 5% spodumene concentrate for export. The high grade of Grants, when coupled with proximity to infrastructure, low capital and operating costs, results in a development capable of delivering A$168 million (pre-tax) in free cash generation over a period of only 26 months. This strong cash surplus will ensure Core is well placed with a first-mover advantage in this exciting new lithium province and lays solid foundations for the building of a long-term lithium production hub. Existing road infrastructure will provide access for daily road train movements of concentrate product to the Darwin Port for shipment which is located 88km from the Project area. The Project also has other substantial infrastructure advantages, including being close to grid-power, gas and rail infrastructure and being less than a 1-hour drive from the skills, trades, workshops and services in suburban Darwin. | |
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