CXO 0.00% 9.3¢ core lithium ltd

1. Yes the weather up north has been unseasonable, and yes...

  1. 234 Posts.
    lightbulb Created with Sketch. 396
    1. Yes the weather up north has been unseasonable, and yes possibly causing delays. But what dealys? Delay in setting up admin building? or vegetation clearing?, we don not know.
    The pictures show the open pit works progressing, other site areas (crusher, processing plant, etc) ready and handed over. So if delays here there should be contingency for weather, others in the timelines for these works (standard procedure).
    With 2 large excavators, 14 dump trucks there is potential to move upto 1.5M bcm per month, and from the pic my guess upto 1-2M already moved, another 2-3 months to hit the mother load. Another 1+ month to stockpile Li ore for future processing prior to the next wet.
    Yes the wet season will create challenges to mine at that depth (relatively small surface area versus depth = steep pit haul road in wet slippery conditions), but knowing dump truck drivers that love to have a 900hp engine, near red lining on the tacho, in first gear screaming up the haul road at 3 km/hr, its a thrill (me thinks all budding F1 drivers at heart.)
    I am not concerned in that respect, on the contrary the site pictures showed no sense of urgency. In the pit pic, where is the second excavator? (other pic shows it "fluffing" around at ground level) . Where are the 14 dump trucks? (other pic shows them driving around, or with its tray up near the workshop). Come on! A better pic would have both the excavators working down the hole with a line of trucks receiving / queing or leaving. But then would have some clown, like me, screaming ITS STAGED ITS FAKE, I see no dark black exhaust smoke coming from the truck.
    Re COVID, yes was traffic jam in Shanghai Port, but the steel is on the water, on its way. The Primero team are finishing off project in WA (that Client is advising nearing completion and on schedule). So potential COVID issues here with team accomodated in Darwin. But I would be more concerned about morning hangovers impacting productivity (coming from isolated, most likely dry site camp to Darwin - luxury)
    2. Construction issues and potential delays will happen, happen all the time not insurmountable. The key is final practical completion (achieving nameplate capacity). Core CEO has talked about 3-6 months ramp up, by May/June 2023. I think this is overly conservative, it is not a relatively complex process (compared to floatation circuit where getting the 'froth and bubble" is crucial, or a LiOH conversion where everything is critical), but it is not like walking into a darkroom and flicking the light switch. These dates would be most likely coming from Main Contractor (Primero) and if they have half a brain would not be providing overly optimistic timelines, if only to avoid liquidated damages if late. So as I said, if the 30 December 2022 is a little late, am not concerned.
    So again, am confident at this stage. The October / November project updates will be more telling. In the meantime I wait by the phone, for the Chairman of the Board to call and plead with me to come and sort it all out.
    PS: To any concerned, I am not holding my breath waiting for the call, instead honing my typing skills for the new profession of 'keyboard warrior".
    GO CORE GO
 
watchlist Created with Sketch. Add CXO (ASX) to my watchlist
(20min delay)
Last
9.3¢
Change
0.000(0.00%)
Mkt cap ! $198.7M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
1 21052 9.5¢
 

Sellers (Offers)

Price($) Vol. No.
9.0¢ 897 2
View Market Depth
Last trade - 09.43am 01/07/2024 (20 minute delay) ?
CXO (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.