But there was news after all ([wryly]: of course there always...

But there was news after all ([wryly]: of course there always is!!)
… at least news I came on in the public arena (possibly due to it being a header on the Business section of The West this morning)

https://thewest.com.au/news/regiona...roject-near-norseman-at-367-million-c-9678192

Scoping study values Essential Metals’ Pioneer Dome lithium project near Norseman at $367 million
Neil WatkinsonKalgoorlie Miner
Thu, 9 February 2023 2:00AM



A stockpile of spodumene concentrate at Esperance Port. Essential Metals’ Pioneer Dome project is 270km north of the port. Credit: Unknown/Supplied

A scoping study has put a $367 million value on Essential Metals’ Pioneer Dome lithium project near Norseman.
Essential Metals told the ASX this week the study was based on a mineral resource estimate of 11.2 million tonnes at 1.16 per cent lithium oxide for 129,000 tonnes, with 81 per cent in the indicated category.
The company said metallurgical testwork also demonstrated the potential to produce a saleable lithium concentrate, while mine optimisation modelling generated economic open pits totalling 8.8Mt of process plant feed at 1.11 per cent lithium oxide, and a mine life of 7.3 years.

Essential said the study assumed three open pits and a 1.2 million tonnes per annum concentrator processing plant, resulting in the production of spodumene concentrate with a targeted lithium grade of 5.7 per cent lithium oxide.

The company said the study, undertaken by engineering firm Primero with input from other experienced consultants and Essential team members, resulted in a base case net present value of $367m.

It estimated pre-production capital costs at $293m.

Essential said the positive results of the study supported starting more detailed studies, taking into account the proposed $136 million takeover of Essential by Tianqui Lithium Energy Australia, which was announced last month.
The objective of the takeover is to secure additional feed for Tianqi’s Kwinana processing plant, and has the backing of the Essential board.

Essential said the study had projected a January 2026 target for first production at Pioneer Dome.

… And this news *is* good news for a few reasons I think beyond the scoping-study fees (which may not be note-worthy);

— On January 9 this year the IGO/Tianqi partnership (half owners of Australia’s largest and most developed lithium resource, Greenbushes) entered a scheme of arrangement to buy ESS [ref]….

As background, Tianqi is famous as one of the largest lithium miners in the world. (Google just said third largest with a US$25b market cap), and it’s long been building Australia’s first lithium hydroxide processing plant in Kwinana just south of Perth which is now also half-owned (not quite) by IGO.​

When the original engineering company at the Kwinana plant ran into major problems, Primero was called in to save the day!
And is still working there despite that there were further delays​

— so Tianqi obviously sees the merit of this well-reputed division of our well-reputed company ​

Maybe Primero is even its’ preferred partner?​

— And then there’s the potential for further Primero work at ESS down the track? And even for other divisions

(Action has been the incumbent drill&blast company at Greenbushes for several years)

​

— Plus of course the ‘name fame’ benefits : )

… I don’t trust Macquarie one bit Parma but I am still thinking will get there ..
But I don’t care if we don’t.

… Primero ‘name fame’ pizzazz aside, NRW’s retention to date of a relatively modest profile - despite its’ excellence - is a feature of this company, and an unusual one in this day and age, and one which pleases me inordinately as it makes me feel like I am part of a ‘secret’ cognoscenti

cheers

( @jacko1 from the Newman Road Workers Club!!)