More from BP"IMPLIES KATHLEEN VALLEY OK UNDER WOODMAC’S...

More from BP

"IMPLIES KATHLEEN VALLEY OK UNDER WOODMAC’S NUMBERS
The debt conditions and covenants also provide some confidence in expectations around Kathleen Valley’s near-term ramp-up and cash generation. Conditions to the draw-down relate to demonstrating compliance with financial ratios under independent price forecasts. Ongoing obligations include cash flow modelling under independent price forecasts and cost estimates approved by an independent technical expert. The modelling must demonstrate the project is sufficiently funded for the term of the facility and has the capacity to support a subsequent long term funding package.We expect that Wood Machenzie remains independent price forecaster used for the cash flow modelling. When LTR’s previous committed facility was withdrawn in January 2024, we understand that Wood Mackenzie’s near-term price estimates for 6% spodumene concentrate were around US$950/t CIF Asia over the next two-plus years."