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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Finniss | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 4/17/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 17-4-2019: Core Lithium Ltd. announces a Feasibility Study report for its Finniss deposit at the Finniss project. DFS results incl. pre-tax NPV of A $114M (10%), IRR of 80%, Initial ore reserve estimate. Emerging Northern Territory lithium producer, Core | |
| Resources: | (Reserve, P+P): 2.2Mt @ 1.4% Li2O | |
| CP/QP: | [Overall Report]: Blair Duncan (Internal) | |
| ABSTRACT: | Emerging Northern Territory lithium producer, Core Lithium Ltd (ASX: CXO) (Core or the Company) is pleased to announce the release of its Definitive Feasibility Study (DFS) for the Finniss Lithium Project, located near Darwin in the Northern Territory. The DFS confirms that Core is well positioned to be the next lithium producer in Australia. Executive Summary Core has taken a major step forward in its goal toward becoming Australia’s next lithium producer in producing high quality lithium spodumene concentrate through the mining and processing of high grade spodumene pegmatites located within one hour’s drive of the capital city of Darwin and Darwin Port - Australia’s closest port to Asia. Mining high-grade Ore Reserves of 1.4% Li2O combined with exceptional spodumene metallurgy enable Core to produce high quality, coarse concentrate using gravity only DMS processing. Core’s development of the Finniss Lithium Project is initially based on the development of the Ore Reserves within the high-grade Grants and BP33 deposits as standard open pit mining operations and the construction of a simple 1Mtpa DMS process plant to produce up to 180,000 tpa of high-quality lithium concentrate with robust operating margins. A modest Pre-Production or Start-Up Capex of $73 million and strong cash flows enable quick capital payback of less than 1.5 years and confirms that the Finniss Lithium Project is one of Australia’s lowest capital intensity lithium projects. Excellent Reserve Case DFS economics are further reflected in the high pre-tax nominal IRR of 80%, NPV of $114 million and strong free cash flows of $A158 million from revenue of A$501 million. C1 Operating Costs of US$300/t FOB (Free on Board) concentrate (A$429/t) generates a robust operating margin of more than US$300/t on low case pricing assumptions | |
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