Incorrect.
Core has the option of restarting Grants as a DMS only operation and stockpiling fines for future use in a flotation plant. That option is low cost and doesn't need a CR.
Core has the option of changing the Grants mining plan again and at a higher than low cost operation, mine more of Grants via open pit, again as low capex restart. Core may be working on a modified Grants UG proposal that would allow more mining, processing and profits before BP33 capital costs need to be paid.
I suspect the higher capital costs re BP33 relate to the most efficient way of mining down to 700m+ type depths and also applying those options to nearer surface ore's. Core may have low capex options to mine the top 75-300m of BP33 via the origional lower capex plans. These earlier plans may become optimal again if another lithium shortage / high price environment emerges and quicker ore from BP33 is required.
Prepay offtake financing options may exist, particularly if Core completes mining design work on Carlton or Booth/Lees and through that has ore reserves exceeding offtake commitments.
Local / Central Government funding options may become a source of finance for flotation.
Core may decide to JV with a partner on one or more deposits and while those arrangements would cause ownership dilution they may avoid a CR.
While a CR may be part of restart options, there are restart possibilities that dont involve a CR, although they do often involve restarting in a period of higher prices. Restarting during a period of low prices without a CR does seem unlikely, but why would you do that?
What Core needs is a highly competent MD to work through all these options and determine the best way forward. Someone like Mr Brown who previously ran lithium and Iron ore operations at MinRes would appear an excellent choice to plot the way forward.
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