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Pilbara Minerals Ltd.
Summary
| Project: | Pilgangoora | |
|---|---|---|
| Deposit: | Pilgangoora | |
| Location: | Australia | |
| Commodities: | Lithium-Tantalum | |
| Date: | 3/26/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 26-3-2019: Pilbara Minerals Ltd. announces a Scoping Study report for its Pilgangoora deposit at the Pilgangoora project. Expansion Scoping Study results incl. post-tax NPV of A $3.73B, 15yr LOM at the project. Australian lithium and tantalum producer Pil | |
| Resources: | (Reserve, P+P): 108.2Mt @ 1.25% Li2O, 120ppm Ta2O5, 1.17% Fe2O3 | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Australian lithium and tantalum producer Pilbara Minerals Limited (ASX: PLS) (“Pilbara Minerals” or “the Company”) is pleased to announce that a Scoping Study considering the Stage 3 expansion (Stage 3 project) at the Pilgangoora Lithium-Tantalum Project (Pilgangoora Project) has delivered exceptionally positive results. The Study re-affirms the Pilgangoora Project’s scale and quality and continues to position Pilbara Minerals to become one of the world’s largest, lowest cost hard-rock lithium and tantalum producers. With an estimated incremental capital cost of A$225.83M (+/- 30%), the proposed Stage 3 project would see the Pilgangoora Project’s processing capacity expand to 7.5Mtpa. This would deliver an average of approximately 1.2Mtpa ~6% spodumene concentrate and ~1.1Mlbspa 30% tantalite concentrate over an estimated 15-year LOM, based on the existing project Reserves. Stage 3 capital is in addition to the previously announced Stage 2 capital expenditure of A$231M. The Stage 3 Scoping Study, which was based on the current Reserves of 108Mt, has delivered positive economics (for 100% of Stage 1, 2 and 3) including a LOM project revenue of A$16.6B, a post-tax NPV10% A$3.73B and an average annual LOM cash operating cost of US$291/tonne CIF. Originally announced in January 2019, the proposed Stage 3 project is a reflection of strong customer interest in further product supply and will support Pilbara Minerals' objective for increased participation in downstream lithium chemicals opportunities with POSCO and other possible partners in the future. | |
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