Core boosts lithium reserves with underground additions

AS LITHIUM reserves increase at the Finniss pre-development project near Darwin, owner Core Lithium says it’s engaged with parties keen on offtake and expects to “be engaging with project financiers in the second half of 2020 to reach a final investment decision”.
Core boosts lithium reserves with underground additions Core boosts lithium reserves with underground additions Core boosts lithium reserves with underground additions Core boosts lithium reserves with underground additions Core boosts lithium reserves with underground additions

Core's Finniss lithium project in the Northern Territory

Lithium reserves of 5.7 million tonnes at 1.3% lithium oxide mean feed for seven years from open cut and underground mining, with additional resource inventory seen as potentially underpinning a 10-year project.

Core said the addition of underground reserves came "without substantial increases to the start-up capital".

Feasibility work last year on the open cut and plant costed the start-up at A$73 million, with the estimate for two underground developments released today adding an initial $54 million.

Core is estimated to currently have about $1 million cash.

Shares in Core were unchanged at 4.6c in afternoon trade, capitalising the company at $36.5 million.

  • Top News: Vale Terry Grammer. Read more.
  • Top News: SolGold's relationship with BHP, Newcrest not 'soured'. Read more.
  • Top News: Nickel Mines becomes 'new force in global nickel'. Read more.