So many dreamers here. CV5 will be an absolute nightmare of a...

So many dreamers here. CV5 will be an absolute nightmare of a mine to operate and high opex looks to be certain seeing with Core Lithium they are encountering with just some wet season water.


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Northern Territory lithium aspirant Core Lithium’s share price suffered a 19.5 per cent fall on Monday and Tuesday after early lessons from the first months of production led to an outlook of higher costs and less production for this financial year.

The firm that owns the Finniss lithium mine revised guidance for its operating cost to between $1165 and $1250 a tonne, about triple what a 2021 feasibility study predicted. Problems encountered include mine closure during the wet season as water filled the pit and a need to reconfigure the mine plan to keep pit walls stable.

Core chief executive officer Gareth Manderson said the operation, which is less than 100 kilometres from Darwin, is still in its start-up phase.

“We are continuing to better understand the Finniss ore processing characteristics and mine performance,” he said.