Australia's Lithium Plus outlines simple, quick returns lithium operation for Bynoe
ASX-listed Lithium Plus Minerals has outlined a rapid development pathway and high returns for the Bynoe lithium project, in Australia's Northern Territory.
The company finds in a scoping study the viability of a direct shipping ore operation using underground mining, on-site crushing and screening, and export through Darwin Port.
The study estimates an after-tax net present value of A$325-million for Bynoe, with an internal rate of return of 75.4% and payback period of 1.8 years from first production. For capital expenditure of A$87.7-million, the project can operate for six years to generate life-of-mine free cashflow of A$492-million.
Bynoe is poised to produce 48 400 t of contained lithium oxide production over its lifetime.
The company's simple, low-capital underground development strategy targets early cashflow, a small surface footprint and reduced environmental disturbance.
Lithium Plus advises that environmental approvals are well advanced, while a 20-year mining lease and offtake agreement with Chinese industrial group Canmax for 50% of production are in place.
The company is in the process of evaluating flexible funding options, including offtake-linked prepayments, strategic partner funding and debt and equity funding.
Lithium Plus envisions that a final investment decision will be reached during the second quarter of 2027 ahead of mine construction that can start shortly after.
The company continues to undertake drilling for resource growth and testing multiple nearby priority targets, particularly at the Lei primary deposit that remains open at depth.
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