Finniss Lithium Project
Diggers and Dealers Presentation
Adelaide, Aug 6, 2018 AEST (ABN Newswire) - Core Exploration Ltd (
ASX:CXO) provides the Company's Diggers and Dealers Presentation.
Grants Pre-Feasibility Study Highlights
- CXO on pathway to low-capex lithium concentrate production near Darwin - targeting late 2019
- Development of the high grade (1.5%) Grants deposit only modelled in the PFS
- Preliminary Feasibility Study (PFS) delivers strong financial outcomes:
o Capital Cost only $53.5 million
o A$168 million in free cashflow generated
o Low Operating Cost US$279/t concentrate delivers 57% operating profit margin
o NPV10 of A$140 million (pre-tax)
o IRR of 142%
o Payback in less than 12 months
- Definitive Feasibility Study (DFS) expected later this year aiming to include:
o Increased resources
o Increased concentrate grade and optimised recovery
o Increased offtake commitment
o Increased prepayment (customer) finance
- Binding US$20 million prepayment facility and offtake agreement with Yahua and recent non-binding agreement for US$35 million pre-payment and concentrate with Ruifu (announced post-PFS)
- Potential to grow Resource base across a number of high grade prospects
- Arguably the best logistics chain to Asia and supporting infrastructure of any Australian lithium project, providing significant strategic advantages
- Enterprise Value of $24 million offers substantial leverage to Development and Exploration
Finniss Lithium Project
Core's dominant position in this emerging lithium province
- First mover advantage
- One of Australia's highest grade lithium resources
- Over 100 historic pegmatite occurrences
- Large area -500km2 of tenements
- Granted Mining Lease over historic pegmatite mine
- Widespread high grade spodumene drill intersections at multiple prospects
- Existing and new large pegmatite targets to be tested
- Easy trucking distance by sealed road to Darwin Port
To view the full presentation, please visit:
http://abnnewswire.net/lnk/181TR2MT
About Core Lithium Ltd
Core Lithium Ltd (ASX:CXO) is an Australian hard-rock lithium company that owns the Finniss Lithium Operation on the Cox Peninsula, south-west and 88km by sealed road from the Darwin Port, Northern Territory. Core's vision is to generate sustained shareholder value from critical minerals exploration and mining projects underpinned by strong environmental, safety and social standards.
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