All really valuable information, though Albemarle are confusing...

  1. 213 Posts.
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    All really valuable information, though Albemarle are confusing the situation by referring more to conversion plants, mostly hydroxide.

    CXO is a better example for WIN.

    15 Aug 2016: CXO acquires Finniss
    23 Sep 2016: first assays (Widgie here in December 2022)
    8 May 2017: maiden resource (Widgie need this)
    19 Oct 2017: CXO applied for mining lease (Widgie have this)
    25 Jun 2018: pre feasibility study released (Widgie need a quicker DSO study, see RDT)
    21 Jan 2019: mineral lease granted (Widgie have this)
    9 Aug 2021: funding secured (Widgie need a fraction of this $ for DSO)
    26 Oct 2021: construction begins
    3 Oct 2022: DSO sold
    30 Dec 2022: DSO shipped

    Important differences:
    CXO didn't have a DSO strategy until 6 mths into their spodumene plant construction, so it wasn't optimised.
    CXO spent 1.5 years waiting for a mining lease which WIN already have.
    CXO designed their study in more detail and at a much higher cost, because it was a full concentrator. See other RDT for timeframes on their DSO study.
    CXO constructed an underground mine, while WIN is open pit.

    Once you take everything into account, WIN may need:
    Up to 8mths to get a maiden resource (from Dec 2022)
    Up to 6mths to do a DSO study concurrently with drilling
    Up to 12mths to construct depending on where they can cut corners compared to CXO.

    It's tight, but doable. Spodumene never went above $1000 per tonne before July 2022. CXO also endured a bust cycle & covid, which reduced their urgency.

    Someone can chime in if I've missed something.
    Last edited by Dandelion: I see I was beaten to it 27/01/23
 
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