@Kikker1959 I never mentioned I didn't believe LTR DFS costs, I said the DFS was outdated ...... The 2021 DFS - US$452/dmt x 1.369 (A$0.73) = A$619
Although there were some updated inputs back in September, it wasn't overly clear what the total AISC given that the 10 year average doesn't start until January 2025 and included a footnote: "It should be noted that Opex unit rates may be higher than the average in the ramp up period and early in the first year as production increases and fixed costs are diluted." ~ must be a reason why these weren't included in the (rolls eyes) 10 year average.
Also noted that the Company provided an updated estimate of working capital and corporate costs of A$152 million
Revised numbers September 2023 Estimated C1 FOB A$651 (excluding royalties) includes A$60/dmt of Tantalum credits
Excludes
Royalties = A$98/dmt
Excluded from Updated Capital Costs A$26 million for early mine development & acceleration of the 4Mtpa expansion.
Excluded from Updated Capital Costs A$37 million associated with building the 567,000 tonne pre first production ROM stockpiles = A$65.25/dmt will be included in the Company's operating costs once spodumene sales commence.
Opex estimates are presented in units of concentrate production' and compare to existing lithium operators. To allow further benchmarking, mining costs (the largest cost driver) when converted to units of mine production results in a 10 year average underground mining cost of A$73/dmt of underground ore mined. That is some hefty addition to the overall AISC when it goes underground.
My calculations = US$585/dmt - A$877.25/dmt ~ also hasn't included the impact of AASB16 ~ and doesn't include the cost of financing but given the average spot price was US$1,325 when the original DFS was announced, it will sure increase time to being cost flow positive and payback will be a tad longer than the original 2.3 years.
Current SC6% spot price = US$785 Current SC < 6% spot price = ? as LTR aren't or can't produce SC6%?
You tell me the REAL numbers after trying to work out the OPEX that are supposed to be clear and precise in the DFS? rather than add a little here not include a little there method LTR used.
Like daz said, everything is so far out of date it all needs doing again .. .. ..
(20min delay)