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Kidman Resources Ltd.
Summary
| Project: | Mt Holland | |
|---|---|---|
| Deposit: | Earl Grey | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 10/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 3-10-2017: Kidman Resources Ltd. announces a Scoping Study report for its Earl Grey deposit at the Mt Holland project. Scoping study results incl. post-tax NPV(10%) of US$565, IRR of 57%, LOM of 25yrs. The initial announcement of a transaction between Kid | |
| Resources: | (Resource, I+I): 128Mt @ 1.44% Li2O for 1.84Mt Li2O contained at Earl Grey | |
| CP/QP: | [Overall Report]: Chris Williams (Internal) | |
| ABSTRACT: | The initial announcement of a transaction between Kidman (Company) and SQM occurred on 12 July 2017, and subsequently formally executed on 12 September 2017, has resulted in a 50:50 Joint Venture (JV) in the Earl Grey lithium deposit in return for an investment by SQM of US$110 million. The JV transaction was a milestone for the Company in allowing it to pursue its vision of transitioning from explorer, to developer, and ultimately a significant lithium production company. The transaction is subject to various customary conditions precedent, which are outlined in the announcement on 12 September 2017. With the JV transaction documents now complete, Kidman is pleased to report the results of the Earl Grey Scoping Study (Study) on a 100% Project basis. Investors should note that Kidman will ultimately own a 50% economic interest in the Earl Grey Project. The Study examined a base case scenario to produce a saleable concentrate for the export market. The defined production target was 47Mt at 1.4% Li2O over a 25 year period. The Study, at this early juncture does not examine, nor factor, a potential refinery (as contemplated in the JV), as this will ultimately be considered in the next level of studies to be conducted by the JV parties. The future inclusion of a potential refinery option will enhance Kidman’s vision to differentiate through downstream participation in a long term sustainable business. The Company believes this vision will facilitate maximum shareholder benefit with Kidman planning to become a very significant participant in a burgeoning lithium market. It is important to note that the Study results released today, do not contain the expected future benefits SQM should bring to the project’s advancement, some benefits of which are already being experienced in early JV workflow and technical meetings. | |
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