Final phase of PFS test work underway to produce Lithium Carbonate, expected July 2024
Test work expected to produceBattery Grade LithiumCarbonate in July 2024
PFS completion now expected Q4 CY2024(previously Q3 CY2024)
US Government grant funding applications progressing withestimated notification due by 2H CY 2024
Funding accelerates completion of key milestones in 2H 2024:
▪ Investigate value optimisation options for McDermitt PFS – possiblefocus on high-grade/low strip mining in early years of Project ▪ Tribal Agreements (Q3)▪ US Government technical cooperation & research agreement (Q3) ▪ Production of battery grade lithium carbonate from test work (Q3) ▪ Update on POSCO test work underway in Korea (Q3) ▪ Completion of optimised McDermitt PFS (Q4) ▪ Potential award decision for non-dilutive US Government grant funding1(Q3/Q4)▪ PFS completion (Q4) ▪ Commence strategic partnership/investment process (Q4) ▪ Progressing permitting activities and stakeholder engagement ▪ Potential additional metallurgical testwork post-PFS to establishadditional value improvements
JLL Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
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