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Liontown Resources Ltd.
Summary
| Project: | Kathleen Valley | |
|---|---|---|
| Deposit: | Kathleen Valley | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 1/29/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-1-2019: Liontown Resources Ltd. announces a Scoping Study report for its Kathleen Valley deposit at the Kathleen Valley project. Scoping study results incl. post-tax NPV of A $421M (8%), IRR of 38%, 9yr LOM at the project. Liontown Resources Limited (A | |
| Resources: | (Resource, Total): 21.2Mt @ 1.4% Li2O, 170ppm Ta2O5 | |
| CP/QP: | [Overall Report]: Aidan Ryan (Lycopodium Minerals Pty Ltd.) | |
| ABSTRACT: | Liontown Resources Limited (ASX: LTR; “Liontown” or “Company”) is pleased to announce the results of an independent Scoping Study (“Study”) for its 100%-owned Kathleen Valley LithiumTantalum Project (“Project”), located in Western Australia’s North-eastern Goldfields, with key outcomes demonstrating the potential of the project to support a viable standalone lithium mining and processing operation. As a result, the Liontown Board has approved the commencement of further studies and metallurgical test work to support a Feasibility Study, as well as a new drilling programme aimed at significantly expanding the current Mineral Resource estimate. Commenting on the Scoping Study outcomes, Liontown's Managing Director David Richards said: “We are very pleased with the results of the Scoping Study, which has confirmed the potential to establish a significant new standalone lithium mining and processing operation at Kathleen Valley capable of producing a spodumene concentrate for global and local markets.” “The Scoping Study outlines a base case 2Mtpa development with the potential to produce approximately 360,000tpa of spodumene concentrate over an initial 8 to 9-year mine life – a similar scale of operation to those which have recently been successfully commissioned in the Pilbara region of WA by Pilbara Minerals and Altura Mining.” “Importantly, using conservative forecast product pricing assumptions, the Scoping Study estimates competitive life-of-mine cash operating costs of around US$376 per tonne FOB of spodumene concentrate and potentially US$308 per tonne net of tantalum credits.” “This highlights the potential for the development of a robust standalone mining and processing operation capable of generating strong margins and excellent financial returns, based on a forecast capital outlay of A$232 million, which is similar to the scope of other recently established lithium mines in WA.” “Given these impressive results and the Project’s location in a well-established mining district, close to high-quality infrastructure, as well as the strong potential to continue growing the Resource base, the Board of Liontown has approved the commencement of further studies and a new drilling program designed to expand the existing Mineral Resource.” “We have a clear commitment to move the Project forward as quickly as we can, with a view to delivering a full Definitive Feasibility Study by early 2020 and then moving into a financing and construction phase. That will position Kathleen Valley to take advantage of what is widely anticipated to be a rapid expansion of the global lithium-ion supply chain next decade as the electrification of the world’s transport fleet really begins to gather momentum.” | |
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