It has just delivered a direct shipping ore resource of 66 million tonnes at 30%, based on a 27% cut-off grade, which it hopes will support its near-term plans for a DSO development and advanced feasibility study.

 

Total resources for the Wonarah deposit remain unchanged at 812Mt at 17%, based on a 10% cut-off.

 

It is the second development milestone in two days, following yesterday's signing of a US$5 million binding agreement with Taiwan-based technology partner Aleees to support development and sales of lithium-ferro phosphate cathode active material at the Darwin Middle Arm precinct, targeting lithium batteries that contain neither nickel nor cobalt.

 

Studies will also investigate production of yellow phosphorous and thermal phosphoric acid.

 

A scoping study earlier this year suggested the proposed stage one 10,000tpa plant could cost A$180 million, and has a post-tax net present value of between $138 million and $548 million with a 22-44% internal rate of return, depending in lithium chemical pricing. 

 

In recent months, the NT government has approved mining leases and set aside plant at Darwin for the planned plant. 

 

The company remains well funded following a $5 million capital raising in May and is hopeful of being in production by the end of the decade.

 

Avenira shares have traded at 0.9-4.2c over the past year and were last traded at 1.2c, valuing it at $21 million.