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12.0¢ core lithium ltd

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13/11/19

09:19

Post #: 41392333
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Originally posted by tacair ↑

For those interested in the more balanced aspects of the report, the below is from page 53 of the report. Talks about backfill as being the best option in the long term, and supports (in my view), CXO's perspective of not having backfill as a condition prior to mining:
"The NT EPA acknowledges the potential for the remaining lithium resource to be mined at some later stage and that backfilling the pit as part of the Proposal could sterilise this resource. The NT EPA is also aware of the Proponent’s plans for continued lithium mining and processing in the region and recognises the potential for the pit void to be filled with future tailings in the medium term. For example, the Proposal area may continue to be used for ore processing if other mines are established in the region and tailings could be disposed of directly in the Grants pit void. Therefore, a case may be argued for delaying backfill of the pit at the end of the proposed life of mine. The NT EPA confirms that if there is a significant amount of material producing AMD, it must be placed in the pit and not left above the ground.

In the longer term, the NT EPA considers that backfilling the pit would be the option most likely to meet the Closure Objectives for a post-mining land use by providing the most stable storage site for mine wastes and the most ecologically sustainable option for the mine site in the longer term when all activities have ceased. A backfill strategy would ensure that the mine site can be rehabilitated to a safe, stable, non-polluting and ecologically productive part of the landscape. Further, backfilling the pit void and returning all disturbed land to its pre-mining state would broaden the options for future land uses such as for recreation, agriculture or grazing land with corresponding environmental, economic and social benefits. This would more closely align with community expectations related to mine rehabilitation and improve the social and environmental acceptability of mining in the region, both for the Proponent and generally."

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Yeah to paraphrase all of that:

-the EPA wants them to backfill.

-CXO doesnt want to due to the cost

-The EPA is saying that Core hasnt adequately explored all backfill possibilites

-The reason Core hasnt done this is because they were hoping to not have to due to massive cost.

CXO Price at posting: 3.8¢ Sentiment: None Disclosure: Not Held
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