Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) has announced the filing of an independent technical report for its Bandeira lithium project in Brazil, featuring a Preliminary Economic Assessment (PEA) and an updated Mineral Resource Estimate.
The report, compliant with NI 43-101, indicates a strong project with a post-tax NPV8% of $1.6 billion and an IRR of 121%. Beyond financials, it suggests a 20-year underground mining operation with robust production rates. Further, the project’s CAPEX is outlined at $233 million, with OPEX per ton of concentrate at $349.
Currently, Lithium Ionic is advancing toward a comprehensive feasibility study, slated for early 2024 completion.
Project Highlights and Development Path
Bandeira’s projected outputs and financials are impressive, with a quick payback and significant free cash flow. A pivotal stage lies ahead as the company pursues an environmental and installation license from Minas Gerais.
Company Profile and Regional Significance
As a Canadian firm, Lithium Ionic is a prominent player in Brazil’s lithium space. The Bandeira Project neighbors existing and significant lithium operations, reinforcing the region’s standing in the global market.
Carlos José Evangelista Silva and Guilherme Gomides Ferreira from GE21, alongside Carlos Costa and Blake Hylands of Lithium Ionic, have been the qualified persons responsible for the PEA and resource estimation.
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