Subscale? CXO able to fund it's resource growth from internal generated cashflows.
CXO board approved enabling/surface works for BP33, $55m BP33 resource doubled . Exploration budget increased $35m.. CXO has $135m in the bank after $15m refund.. circa 70% gross margins after revised ASIC cost if Lithium price can hold around current spot price levels.. should able to fund BP33 mine development from internal cashflows..get clarity on this around March 2024.
If you listened to webinar.. GM mentioned that customers were giving him feedback of structural deficit in supply over the next two years..
Which can only be met from hard rock Li mining..current brine Li extraction process takes 18mths, makes it difficult to ramp up production.. How many hard rock producers coming on line within FY24? DLE will kick in fully in 2026 and is projected to meet 15% projected demand.
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