Name of the Project
Finniss lithium project.

Location
South of Darwin Port, in the Northern Territory, in Australia.

Project Owner/s
Core Lithium.

Project Description
The updated definitive feasibility for Stage 1of the Finniss project has confirmed that Core Lithium is well positioned to be the next lithium producer in Australia.

Finniss has total ore reserves estimated at 7.4-million tonnes grading 1.3% lithium oxide, supporting an eight-year mine life assuming openpit mining methods are used at the project’s Grants and Hang Gong deposits, and underground mining methods are used at the Grants, BP33 and Carlton deposits.

Stage 1 of the project will involve the mining of the high-grade spodumene pegmatite deposit from multiple openpit and underground sources;  the transfer of the spodumene pegmatite ore to a run-of-mine pad located adjacent to the Grants open pit; water-based dense-medium separation to produce a high-quality spodumene (lithium) concentrate product; and the transport of the lithium concentrate product to the Port of Darwin by sealed public road for overseas export.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of A$221-million and an internal rate of return of 53%, with a two-year payback.

Capital Expenditure
The project has a modest preproduction capital expenditure of A$89-million.

Planned Start/End Date
Stage 1 construction is scheduled to start before the end of 2021.

Latest Developments
The completion of the DFS has paved the way for the Core Lithium to progress debt finance opportunities and finalise other customer and equity financing discussions.

The updated DFS has also shown further potential for Stage 2 production expansion, with increases in mineral resources and ore reserves under way. A substantial drilling budget has been allocated for 2021 and 2022.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Core lithium, tel +61 8317 1700 or email info@corelithium.com.au.