Name of the Project
Goulamina lithium project.

Location
Southern Mali.

Client
Birmian.

Project Description
The Goulamina project has a mineral resource estimated at 32.9-million tonnes grading 1.37% lithium oxide (Li2O) at a 0.4% cutoff.

A prefeasibility study (PFS) on the project has confirmed the technical and economic viability of Goulamina, with four possible development scenarios considered.

Scenario 1: a small pit at one-million tonnes a year (base case).
Scenario 2: a large pit at two-million tonnes a year for the life-of-mine.
Scenario 3: a small pit at one-million tonnes a year for the first three years of production and two-million tonnes a year thereafter.
Scenario 4: a large pit at one-million tonnes a year for the first three years of production and two-million tonnes a year thereafter.

A fifth scenario, involving the secondary processing of 56% of the available spodumene concentrate to produce battery-grade lithium carbonate for sale, and selling the residual spodumene concentrate, has also been considered. 

This scenario is based on a concept study undertaken on the secondary processing of spodumene-to-lithium carbonate.

Based on the different scenarios, the PFS envisages a project operational mine life of 8.8 to 14 years, processing between 14-million tonnes at 1.39% Li₂O and 20.6-million tonnes at 1.31% Li₂O. The plant will produce a 6% Li₂O concentrate at an average recovery of 80.7%, demonstrated by metallurgical testwork.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Based of the five possible scenarios, the project has a net present value (NPV), at a 10% discount rate, of between $85.6-million and $126.4-million and an internal rate of return of between 21% and 22%.

The inclusion of secondary processing will lift the project’s NPV to $637.9-million.

Value
The estimated capital cost ranges from $86.9-million to $412-million.

Duration
For the purposes of the PFS, it is assumed that project construction will start in mid-2019, with initial production expected in early 2021 and a six-month production ramp-up period.

Latest Developments
The recent shallow-hole drilling results delineating additional lithium-bearing pegmatite anomalies at the Yando, Sabali and Danaya depoists have highlighted the exploration potential of the project area.

The forthcoming drilling programme on these targets may increase the project’s mineral resource base, which, in turn, would redefine and enhance the preferred development strategy.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Birmian, tel +61 8 6382 2226 or email info@birmian.com.