Results of the Goulamina Definitive Feasibility Study confirm Goulamina confirmed as one of the world’s best hard rock lithium assets for scale and cost of production.
The project delivers outstanding returns with a pre-tax NPV of A$1.7 billion using conservative pricing metrics.
A key advantage is the quality of the 6% Li2O spodumene concentrate (SC6) product, being high in grade and low in impurities.
The Company requested a two-day trading halt be placed on its securities on 3 September 2020 pending an announcement regarding a capital raising. The Capital raising is currently being finalised and requests its securities be placed in a voluntary trading suspension until the capital raising is complete and an announcement made to the market in this regard.
Goulamina Lithium Project Exceptional Drilling results complete the COVID delayed RC drilling programme at Goulamina. New Mineral Resource Estimate delivers maiden Measured Resource, increases both global Mineral Resource and Measured and Indicated Resources. Initial pit optimisations utilising the new Resource Estimate indicate potential for material increase in Ore Reserves. Results of the Goulamina Definitive Feasibility Study will be published in August or September.
64.6Mt @ 1.49% Li2O for 0.96Mt Li2O Measured and Indicated resource; Measured and Indicated Mineral Resources increased by 48%; Global Resource increased by 6% to 109Mt @1.45% Li2O; Measured Mineral Resources established for the first time; Increase in M&I resource expected to flow through to Ore Reserve estimate; Significant potential remains to further increase Mineral Resources at Goulamina in the Danaya and Sangar domains; Ore reserve estimation and mine design in progress.