Managing Director, Simon Hay, commented:“The June Quarter was a...

Managing Director, Simon Hay, commented:
“The June Quarter was a period of significant progress for Leo Lithium. Our Goulamina
Lithium Project remains on schedule and construction activities are underway. Mining has
commenced with initial mining activities focused on the Stage 1 starter pit, leading to
production and stockpiling of our first run of mine ore.
The recent significant resource upgrade confirms the outstanding scale, high-grade nature,
and further growth potential of the Goulamina Project. We anticipate further positive
developments with the latest Mineral Resource setting the foundation for an updated Ore
Reserve estimate in August.
We look forward to building the strong relationship with our joint-venture partner Ganfeng,
the world’s largest lithium chemical producer. The Strategic Placement and key terms
underpinning the proposed Cooperation Agreement are a strong endorsement of
Goulamina. A key aspect of the Cooperation Agreement is to increase Goulamina Stage 2
capacity to circa 500ktpa, lifting overall Goulamina production to circa 1mtpa of spodumene
concentrate3
.
This is an exciting time for Leo Lithium with several near-term deliverables underway,
including our first spodumene product in 2024 and the ramp-up of mining activities in the
second half of this year.
The Goulamina Project is one of the largest lithium spodumene projects in the world. Given
our high grades, relatively low costs of production and capital costs, we believe these
characteristics make Goulamina an important strategic asset for the world’s growing
demand for lithium chemicals. We look forward to delivering on our strategy and becoming
West Africa’s first lithium producer.”