CXO Summary

Just thought Id add a summary so for new people to view. We can update as the project moves along

About

920 mill shares on issue

Market Cap – 40 mill

Top 20 own 25.95%

Largest shareholder - Ya Hua International Investment and Development Co. Ltd who have subscribed for $1.4 million at 5.3 cents a share (26.4 million shares) 2018 and subscribed to a further $2 million at 6 cents a share (33.3 million shares) 2017.

Management – Malcolm McComas (NED), Stephen Biggins (MD), Gregory English (NED), Heath Hellewell (NED)
Recently raised 5.5 million at 4.25 cents (Malcolm McComas subscribed to 1.5 mill $61,557) - June 2020

Malcolm McComas previous companies – SAU and IVR

Project

Finniss Lithium Project – Northern Territory

Currently developing one of Australia’s most capital efficient and lowest cost spodumene lithium projects.

Within 25km of Darwin Port (Australia closest port to Asia), power station, gas, rail and 1 hour by sealed road to workforce accommodated in Darwin and importantly to Darwin Port.

2019 DFS highlights production of 175,000tpa of high-quality lithium concentrate at a C1 Opex of US$300/t and US$50M Capex through simple and efficient DMS (gravity) processing of some of Australia’s highest-grade lithium Mineral Resources.

In April, Core received approval of its Mine Management Plan (MMP) from the Northern Territory Government. Core is on track to be construction-ready in 2020.

Offtakes

22/05/2020 – 50,000 tpa of spod concentrate for 5 years with Transmarine (European) non-binding MOU

01/04/2019 – 75,000 tpa of 5.5% LiO concentrate with Yahua (One of China’s largest lithium hydroxide and carbonate producer)

Chart wise - right at 38.2% FIB Retracement


LIT ETF looking very bullish


Adelaide River Gold project – Northern Territory

25km south east of the Finniss Lithium Project

Gold mineralisation is hosted in gold vein systems similar to those at the nearby Cosmo gold mine, operated by Kirkland Lake Resources.

Kirkland Lake (11 billion dollar company)

Napperby Uranium Deposit – Northern Territory

The Napperby Uranium Inferred Mineral Resource estimation defined by SRK Consulting comprises 9.54Mt at 382ppm U3O8 for 8.03 Mlb of contained U3O8 at a 200 ppm U3O8 cut-off



Feel free to add more in depth about the lithium grades and size of project

Pros
- location, especially how its close to the chinese port
- cashed up
- close to getting project up and running
- only NT play which is a game changer IMO

Cons
- Only thing I dont like is the top 20. I would like to see more skin in the game from management and a tighter top 20 IMO.