The problem is not just lithium price but also Core’s costs....

The problem is not just lithium price but also Core’s costs. Core’s previous costs were not well managed. Maybe that’s why both previous ceo and cfo got the sack. Listening to the new ceo PB, he sounds determined to reduce costs.

One area to reduce cost is probably to do processing in-house instead of contracting it out. He says he is bringing in a very good metallurgist into the team, probably to oversee this process.

He says he has got a good handle on how to restart (has experience at Wodgina). Restart plan is top of his agenda. He says it only takes 2 months to restart mining, once decision is made.

With the SP at rock bottom, I think there are a lot of upsides:

With $87m cash and no debt, and only 6 workers on site, they will last a while. They still have $15m worth of spod to sell if they need more cash.

They are only spending $8 or 9m on exploration. If they strike gold (or increase Napperby’s uranium resource), that will give the SP a boost.

PB also acknowledges a lot of work had already done at the second mine BP33. Doesn’t think it will be a big deal progressing BP33 to mine.

In the short term, we do need the lithium price to recover. PLS’s Henderson thinks lithium price has bottomed. Lepidolite supply from China and Africa had withered away at current low prices and new projects had stalled. He says demand is also increasing due to energy storage systems, not just ev.

Just repeating what PB says "My role is to drive costs out of the business structures, so that when that market swings, we can open the mine in a sustainable way …for a long time." Then Core is back in business!