LTR A NPV Valuetion

Hi All,

I'm aiming to do a comparison of all upcoming hardrock lithium producers. For LTR I have used the DFS: https://hotcopper.com.au/threads/ann-updated-downstream-scoping-study-for-kathleen-valley.6415211/ and the most recent presentation: https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4gy%2ByBf3v%2Ftt7bFiGug%3D 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) Production starts in Q2 of 2024 with nameplate in Q3 of 2024.
2) OPEX is at US$327/t on con for life of mine (including sustaining capital)
3) There is a step change in the business in 2028. For this reason I have done 2 scenarios, The baseline below is without the lithium converter, When I added the converter I increased cashflow by 30% and decreased cash position by $1.5Bn to reflect the CAPEX.
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.


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.