Ann: PFS confirms potential for robust new long-life lithium mine, page-12

Announcement looks fairly decent.

i'm more just pleased we can put the debate myself and scarpa were having around strip ratio. The debate being that it would be higher than KDR's and closer to 5-7;1. additionally debate was that "pre-stripping" would improve the economics. My argument being that pre-stripping is a part of every operation (unless it's at surface) and that the strip ratio in the PFS would be higher as typically it's presented in a LOM case.

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-Process circuitry looks relatively basic which is good.
-Recoveries of 76% seems are probably realistic - If their met test's are analogous to the JORC ore body this should be achievable.
-LOM pricing of 690 USD - Still a fair bit higher than current pricing but around where i would say it will average so no issues there.
-IRR/NPV is little low as stated with NPV8 but fairly as expected with 2mtpa throughput. I garner there will be stage 2 upgrades in the future and there is obviously more ore around to support a longer mine life. Increasing the NPV.


Sensitivity analysis is usually the best go to.
Can be seen that recoveries halve the NPV if only achieving 65% if spod price hold at 600USD probably becomes marginal. This is what has occurred with most current producers.

All in all - It seems quite realistic and economical.

Best of luck everyone - hopefully the market likes it.

SF2T