Mt Caitlin isn't a particularly great resource but very handy to...

Mt Caitlin isn't a particularly great resource but very handy to have producing when prices soared. It is now generating cash to fund their growth projects. The reason for the poor output and high costs was raised last year as they have been working through a section of ore with poor mineralisation and low recovery rates - but still achieving a gross margin of 72%.

They are now through the worst of it and reported the majority of forecast annual production of 140-150kt will be achieved in the March and June quarters and FY23 cash cost of production continues to be forecast at ~US$900/t dmt FOB. Proiduction will increase next year and exploration has discovered more lithium which will likely expand mine life by a couple of additional years by which time the rest of the projects should be in full production.