Make me understand the difference apart from ~1 year gap in production between the two producers and slight differences in the spot price and lower OPEX for CXO:
In 2021, CXO released a Definitive Feasibility Study and a Scoping Study on Finniss. Both suggested Core could produce an average of 173,000tpa of lithium concentrate (5.8% Li2O) at a C1 Opex of US$364/t and AU$89 million Capex through DMS (gravity) processing. The initial Finniss mine life is set at 10 years (includes a possible extension to the mine of +2yrs). Pre-tax IRR 53% - 56% Payback 2 years Pre-tax NPV A$221m - A$259m based on a mkt price of US$850/t
VERSUS
SAYONA PFS Average of 163,266tpa lithium concentrate (6% Li2O) at US$590/t and AU$102 m CAPEX Mine life set at 27 years Pre-tax IRR 140% Payback 2 years Pre-tax NPV US$724m based on a mkt price of US$1,242/t
SYA Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
