Quarterly Activities and Cashflow Report 31 December 2017
During the reporting period Core:
Entered into a binding Offtake Agreement, a conditional US$20 million Prepayment Agreement and a $2m Placement for its 100% Finniss Lithium Project near Darwin in the NT with one of China's largest lithium producers.
Lodged a Mineral Lease ("ML") with the Department of Primary Industry and Resources and a Notice of Intent ("NOI") with the Northern Territory Environment Protection Authority for the Grants Lithium Project.
Successfully completed the acquisition of the Bynoe Lithium Project directly adjacent to Core's Finniss Lithium Project in the NT near Darwin from Liontown Resources Ltd (ASX:LTR).
Drilled wide high grade spodumene intersections at Core's 100% owned high grade BP33 pegmatite.
Drilled multiple intersections confirming the potential of the 100%-owned Sandras Prospect to host high-grade spodumene pegmatite.
Had a strong cash position of approximately $4.6 million to further its project objectives at the end of the period.
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About Core Lithium Ltd
Core Lithium Ltd (ASX:CXO) is an emerging lithium producer focused on development of its Finniss Project near Darwin in the Northern Territory. Core owns 100% of Finniss, a major developing project that lies close to existing infrastructure such as the Darwin Port, grid power, gas and rail infrastructure.
The Finniss Project covers a 500km2 tenement holding and 25 historic pegmatite mines. The project area is about 80km from Darwin Port. Exploration work has generated a near term development timeline, with feasibility studies to be completed over the course of 2018 ahead of receipt of approvals in early 2019 and planned first production during 2019.
An aggressive exploration program is under way, which has confirmed the high quality prospectivity across much of the Finniss Project area. Core's stated ambition is to upgrade Finniss' resource base to fast-track commercialisation options.
Liontown Resources Limited
Core Lithium Ltd