Ann: Half Yearly Report and Accounts, page-6

Phase 1 FFS due in Q219, and guess what, an updated SS for FULL LMAX will also be released.

Two more locations outside North America are shaping up. My guess is that one will be in Japan.


“Full-Scale L-Max® Plant Scoping Study
In parallel with the engineering work for the Phase 1 Plant Feasibility Study, budget prices will be sought for larger scale major equipment items. This data will inform an initial capital cost estimate to be made for a full-scale L-Max® plant during the first half of 2019.
Encouraging results were received from by-product market, logistics and key consumables studies undertaken for three prospective strategic L-Max® locations outside of North America, two of which appear to be particularly favourable. Further desktop work is scheduled for the first half of 2019 with the objective of developing scoping study level capital and operating cost figures for L-Max® plant configurations ranging from 10,000tpa to 20,000tpa LCE. Initial indications are that significant economies of scale will apply at higher throughput rates, in particular for the L-Max® chemical plant but also for ore concentration.”