The only sinking that anyone is doing will be you.
If you think 1.12% Li2O at surface shallow deposit which will increase on MRE upgrade in afew months is not economical then god help you as you have no brain at all. Not even half.
This is Critical Element's Rose deposit PFS with only 0.87% Li2O
https://www.cecorp.ca/en/critical-elements-announces-a-positive-feasibility-study-for-the-rose-lithium-project/June 13th, 2022– Montréal, Québec – Critical Elements Lithium Corporation (TSX-V: CRE) (US OTCQX: CRECF) (FSE: F12) (“Critical Elements” or the “Corporation“) is pleased to announce results of a new Feasibility Study on the Rose Lithium-Tantalum project (“Rose” or the “Project”) in Eeyou-Istchee – James Bay, Québec.Unless otherwise stated, all figures are quoted in American dollars (“US$”) and are reported on a 100% equity project basis.
Highlights
- Average production, Year 2 to Year 16 of 173,317 tonnes of chemical grade 5.5% spodumene concentrate
- Average production, Year 2 to Year 16 of 51,369 tonnes of technical grade 6.0% spodumene concentrate
- Average production, Year 2 to Year 16 of 441 tonnes of tantalum concentrate
- Expected life of mine of 17 years
- Average operating costs of US$74.48 per tonne milled, US$540 per tonne of concentrate (all concentrate production combined)
- Estimated initial capital cost $US$357 million before working capital
- 100% equity basis for project
- Average gross margin of 68.3%
- After-tax NPV of US$1,915 million (at 8% discount rate), after-tax IRR of 82.4% and average price assumptions of US$4,039 per tonne technical grade lithium concentrate, US$1,852 per tonne chemical grade lithium concentrate, US$130 per kg tantalum pentoxide (Ta2O5)
- Anticipated construction time to start of production of 21 months
The Rose Lithium-Tantalum Project is 100% owned by Critical Elements. The Corporation’s market strategy is to enter the lithium market with a low-risk approach. The completion of the feasibility on the spodumene plant is the first step to enter the market and establish the Corporation as a reliable high quality lithium supplier. The low-risk approach is characterized by simple open-pit mining and conventional lithium processing technologies.
Critical Elements has consistently sought to advance the wholly owned Rose Lithium-Tantalum Project in a low-risk manner. To this end, the Corporation has completed a new Feasibility Study with a conservative spodumene concentrate price deck, as well as capital and operating cost estimates reflective of current market conditions. The new Feasibility Study incorporates a standard truck and shovel open-pit mining operation and conventional lithium processing technologies. The Project will produce technical grade spodumene concentrate for the glass and ceramics industry and chemical grade spodumene concentrate for conversion for use in batteries for e-mobility, as well as a tantalite concentrate.
The mine will excavate a total of 26.3M tonnes ore grading an average of 0.87% Li2O and 138 ppm Ta2O5after dilution. The mill will process 1.61M tonnes of ore per year to produce an annual average of 224,686 tonnes of technical and chemical grade spodumene concentrates and 441 tonnes of tantalite concentrate. The ore is contained in several parallel and continuous shallow dipping pegmatite dykes outcropping on surface. The ore zones are open at depth and a future underground operation is possible.
Over the life of mine, the open pit will excavate a total of 182.4M tonnes of waste rock and 10.9 M tonnes of overburden. The average strip ratio is 7.3 tonnes of waste per tonne of ore.
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