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Rock Tech Lithium Inc.
Summary
| Project: | Georgia Lake | |
|---|---|---|
| Deposit: | Georgia Lake | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 10/2/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-10-2018: Rock Tech Lithium Inc. announces a PEA report for its Georgia Lake deposit at the Georgia Lake project. PEA results incl. post-tax NPV of US $210.2M (8%), IRR of 48%, 11yr LOM at the project. VANCOUVER, Oct. 2, 2018 /CNW/ - Rock Tech Lithium In | |
| Resources: | (Resource): 1.89Mt @ 1.04% Li2O (Meas.), 4.68Mt @ 1.0% Li2O (Ind.), 6.72Mt @ 1.16% Li2O (Inf.) | |
| CP/QP: | [Overall Report]: Karl Peters (DMT GmbH & Co. KG) | |
| ABSTRACT: | VANCOUVER, Oct. 2, 2018 /CNW/ - Rock Tech Lithium Inc. (the "Company" or "Rock Tech") [TSX-V: RCK; Frankfurt: RJIB (WKN: A1XF0V)] is pleased to announce the results of a Preliminary Economic Assessment ("PEA") at its flagship 100%-owned Georgia Lake lithium property in the Thunder Bay Mining District of Northwest Ontario, Canada. Rock Tech engaged DMT GmbH & Co. KG ("DMT") to complete the PEA. The results of the PEA include a pre-tax Net Present Value ("NPV") of $312 million at a discount rate of 8% and a pre-tax Internal Rate of Return ("IRR") of 62.2%. The PEA focused on only a portion of the Georgia Lake project centered around an area referred to as the Nama Creek Main Zone, excluding additional inferred resources the Company has defined on other areas of the property as included in the updated resource estimate disclosed on June 27, 2018 and filed on SEDAR on August 10, 2018. In the PEA, DMT covered all relevant topics for the development of the mine and the production of spodumene concentrate, including project infrastructure, mine design and operations, recovery, processing and reclamation. "The completion of the PEA is a key milestone in the development of our Georgia Lake lithium property," said Martin Stephan, Chief Executive Officer of Rock Tech. "We are pleased that the results confirm our optimism with respect to the project and confirm for our shareholders that their investments in advancing this project have been a success. Although the PEA focused only on a portion of our NI 43-101 resource estimate, it shows the real value of our company's assets and proves the excellent profit potential with an expected annual EBITDA of $64 million (CAD) which is nearly double the current market capitalization." | |
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