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Pilbara Minerals Ltd.
Summary
| Project: | Pilgangoora | |
|---|---|---|
| Deposit: | Pilgangoora | |
| Location: | Australia | |
| Commodities: | Tantalum-Lithium | |
| Date: | 9/20/2016 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 20-9-2016: Pilbara Minerals Ltd. announces a Feasibility Study report for its Pilgangoora deposit at the Pilgangoora project. DFS results incl. post-tax NPV (10%) of A$709M, IRR of 38.1%, 2.7 year payback. Australian lithium developer Pilbara Minerals Ltd | |
| Resources: | (Reserve, P+P): 69.8Mt @ 1.26% Li2O, 132ppm Ta2O5, 1.04% Fe2O3 at project | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Australian lithium developer Pilbara Minerals Ltd (ASX: PLS) is pleased to advise that it has completed the Definitive Feasibility Study (DFS) on the initial 2Mtpa development of its flagship 100%-owned Pilgangoora Lithium-Tantalum Project in WA, with the results confirming the Project’s exceptionally strong financial and technical merits and putting the Company on track to become Australia’s next major lithium producer. The DFS confirms the Pilgangoora Project’s globally competitive forecast cash operating costs, robust margins, long life and exceptional economic returns – as well as its ability to scale-up to meet expected growing demand for lithium raw materials over the next decade. In light of the substantial growth in the Pilgangoora Resource and Reserve during the year and the exceptionally strong outlook for global lithium demand, a separate Pre-Feasibility Study (PFS) has also been completed on an expanded 4Mtpa production option. The results of this study have been provided in a separate ASX announcement today. The highly successful DFS provides a strong platform for the Company to complete additional project offtake arrangements (in addition to its existing off-take agreement with General Lithium), secure project financing and commence construction – which is targeted to commence in the fourth quarter of CY2016 with commissioning targeted during Q4 CY2017. | |
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