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.
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Mkt cap ! $225.0M |
Open | High | Low | Value | Volume |
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Price($) | Vol. | No. |
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