Looks like Grants has lost its big boy status: BP33 and Carltons are now bigger
Nice upgrades from Hang Gong and Lee’s Booths. Looks like they have a greater understanding of these deposits now, and have flagged them for potential underground mining also.
I love the increase in measured & indicated to 7.62MT at 1.41% Li20. Of this 7.62MT, 6.43MT will be from deposits included in the upcoming DFS.
Looking at the 2019 DFS, it was based on included deposits which at the time had a total of 2.54MT of measured and indicated resources, which would give us 2.2MT of reserves, that’s a conversion rate of 86.6% resource to reserves. If we can maintain that conversion rate then that would give us 5.57MT of reserves, very close to TAW’s original starting point of 5.7MT. So I am looking forward to seeing what happens here. Ore reserve classification to be finalised in June aka in the next two weeks.
”Relatively simple” to conduct infill programs to convert a “large component” of inferred resource to higher confidence categories. Nice
bring on the updated ore reserve and mine life. I’m gonna tip 5.2MT - 5.5MT of reserves for an 8.5 year to 9 year mine life
”An expected increase in mine life and improvement in economic outcomes should be attractive to potential offtake and financing partners.” “Further offtake negotiations and financing plans accelerating as markets continue to improve.”
I think the first thing we will see is Transamine convert their MOU to a binding agreement. And then a little wildcard, we may see the non-binding term sheet for our lithium fines become binding. And then fingers crossed, a 3rd offtake partner to take the remaining 50,000tpa, followed by financing
IMO
GLTAH
CXO Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
(20min delay)