Ann: Core Lithium 2019 Annual Report to Shareholders, page-12

Seems like the project still has a long way to go for CXO to become a producer. Not too sure what to make of the Jan 2020 "first shipment" date. Seems a tad optimistic.
Agreed. Q4 2020 is more likely. Not a bad thing as the lithium market is predicted to start turning up by then.

13:1 is quite the strip ratio.
Agreed. Although along with BP33 this is fully accounted for in the DFS. Logistics,high grade and good recoveries balance this expense out to a large extent.

A shame about the overall size of the resource. Must be one of the smallest in australia. Be interesting to see what would come from some exploration drilling at barrow creek.
Agreed. I think a 20mt resource is very achieveable though this year but we are definately missing a large shallow high grade deposit. Hundreds of targets to go! And that is just the Finniss area. Barrow Creek looks very good as well, but that is for later but definately good to have a back up like this.
Interested for us to explore Yerelina zinc more as well.

I quite like how they have kept the plant simple and gone for a lowish grade product @5.5%. For such a small resource the 28.3% not recovered is pretty insignificant compared to what is feasible for larger longer LOM operations. Hopefully the stated numbers are realistically attainable without flotation circuit seperation and CXO will avoid all of the plant issues that PLS is having.
Agreed. 6% can be achieved as well as shown by mets with minimal recovery loss difference. Will be interesting to see where the sweet spot is for grade/recovery/cost.

Dont like how the company's KMP termination benefits are so high or the lack of skin in the game from management.
No holder will disagree here. Piss poor.

Also dont like that they are Adelaide based and wasting money on an office there as well as the one in the NT where the project is rather than relocating.
Not something that needs any brain power or time spent on right now. More pressing issues. But long term agree this should be looked at.

Anyone able to shed any light on the 171k "impairment expense"?
It is for costs related to relinquished tenements therefore an impairment.

US$687/tonne (as per the DFS) for 5.5% concentrate seems above what australian producers are currently getting. Better hope that spodumene prices improve rather than continue to deteriorate.
I think the price used in the DFS was a fair price at the time, although I agree not reflective of current price. If we start producing next year then there is general agreement prices should at least be stabilising if not increasing moving forward. Bottom is close to being in now.
Our costs are under $400t so we are lucky that we are on the right side of the marginal cost curve. We also have a 2 year price floor negotiated with Yahua (if that is worth the paper that it is written on - let's see). Even at these prices we should be generating 4 cps in FCF every year. If we can get to a 15 year LOM with 20mt resources by next year then this is a great little project with alot of upside for those getting in at these prices.