Hi All,I'm aiming to do a comparison of all upcoming hardrock...

Hi All,

I'm aiming to do a comparison of all upcoming hardrock lithium producers. For CXO I have used the DFS: https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4A%2B9zxjyv%2FRh8LFiGug%3D and the latest quarterly: https://hotcopper.com.au/threads/ann-quarterly-activities-and-cashflow-report-30-september-2022.7055485/ I'm sure I have made some mistakes however I'm more then happy to fix them providing the information is sourced:

Assumptions in model:
1) Royalty starts at 2.5% (LRC royalty), + 1% for 1st year, 2% for second year, 2.5% from thereon to NT Gov.
2) Production reaches 190,000tpa of 5.8% spod from Q2 next year. It is maintained here through resource delineation.
3) Capex and Opex remain Constant
4) I have assumed spod price as US$6200 Q1 23, US$5500 Q2 23, and then decreasing US$500 each quarter until it reaches US$2500. I'm happy to run alternative pricing scenarios.

All this leaves us with:


I'm sure there are mistakes so please let me know where they are and I will update accordingly. The aim is once I have a final model for each company I can do a comparison. All financial metrics are in AUD.