Core Lithium

Blackbeard diamond hole NMRD104 hit 92m @ 1.25% Li2O (~45m true width), including 73m @ 1.45%, its longest intersection there, ~80m up-dip of earlier NRC269 (63m @ 1.67%). NMRD108 partial: 29m @ 1.35%; more assays pending. Supports the Exploration Target; no resource yet.

drilling result

First spodumene concentrate was produced at the restarted Finniss plant, within six months of the March FID and on the September quarter target. The plant is still commissioning; first shipment of new concentrate stays targeted for the December quarter.

production update

Core sold its last ~25kt of fines stockpile to Glencore at a base price of ~US$285/t (~A$400/t), with proceeds due in the December quarter. This is the third sale and takes 2026 stockpile sales to ~A$38.5M, completing stockpile monetisation.

material agreement

Axiant listed on the ASX on 2 September, completing the gold and non-lithium spinout. Its IPO raised $8M at $0.20 a share (minimum raise), so Core holds about 33%: 20M shares plus 20M performance rights, escrowed 24 months.

asset acquisition disposition

First BP33 extension hole NMRD100 hit 34.08m @ 2.09% Li2O from 578.7m, outside the existing 10.5Mt @ 1.53% resource, next to earlier hole NMRD085 (90.17m @ 1.80%). Four more holes planned. Extra Blackbeard rig is on its way.

drilling result

FIRB approval was received and Core got the ~US$44M (A$62M) Tranche 2 convertible note funds, the last condition. This completes the A$120M equity, US$70M convertible note and US$50M loan package from 18 March; Core says Finniss is funded to steady state in 2028.

debt financing

Core signed a share sale agreement to sell its gold and non-lithium tenements, including Shoobridge, to Axiant for 20M Axiant shares and up to 20M performance rights. Axiant plans an $8-10M IPO at $0.20 a share, with a priority offer to Core holders. This firms up the earlier spin-out plan.

asset acquisition disposition

Portal cut at BP33 and Develop mobilised, so underground decline work has started; first BP33 ore is expected mid-2027 and nameplate mid-2028. The first shipment, 20kt of fines and 5kt of concentrate, left Darwin, with payment due before end of June quarter.

production update

Drilling began at Blackbeard, Core's priority growth target at Finniss: up to 12,150m to support a first resource estimate, with completion expected in the September quarter. Core also agreed to acquire the Bynoe lithium tenement (EL 30897) from Charger Metals. Existing target is 7-10Mt at 1.5-1.7% Li2O (conceptual).

drilling scheduled

Core plans to spin its gold and non-lithium NT and SA tenements into Axiant Resources via an IPO, keeping a significant stake and all lithium rights. Chair Greg English retires 30 June after 16 years; director Malcolm McComas becomes Chair.

director officer appointment

First blasting and excavation began at the Grants open pit, restarting mining at Finniss. Ore is expected to be processed in the September quarter, with first concentrate shipment in the December quarter. Core says this is in line with the FID schedule and cost expectations.

production update

Core awarded Develop Global a ~A$274M, three-year underground mining contract at BP33, with a two-year extension option. Mobilisation is targeted for June 2026 and decline works for July 2026. BP33 is expected to supply 88% of ore feed in the first ten years.

contract award

Tranche 2 of the equity raise completed: ~320M new shares for ~A$67M before costs. Core has received about A$157M net of costs so far. The convertible note's second tranche still awaits FIRB approval, and the BP33 underground contract is near award.

capital raising announcement

Core agreed to sell ~20kt of lithium fines to Glencore at US$290/t (~A$405/t) CIF, shipping May 2026. About 55kt of fines remain unsold. With the February concentrate sale, the two sales are expected to bring about A$18M.

material agreement

Core awarded NRW a ~A$50M contract to mine the Grants open pit, with ore targeted from May 2026. Grants holds ~784kt of ore for ~134kt of SC5, with first concentrate shipment targeted early in the December quarter. BP33 boxcut works have also begun.

contract award

The intended A$120M raise is fully committed at A$0.21 a share, a 4.5% discount to the last price of A$0.22. A$53M Tranche 1 is unconditional; A$67M Tranche 2 needs shareholder approval. About 571M new shares will be issued, diluting existing holders.

capital raising announcement

Board approved FID to restart Finniss, backed by US$120M (A$170M) strategic funding: a US$70M Glencore/InfraVia convertible note and US$50M Nebari secured loan, plus an intended A$120M equity raise. Glencore also gets a marketing arrangement. This resolves the long-running funding and FID threads.

debt financing

CEO Paul Brown is appointed Managing Director, joining the Board, with no change to his responsibilities or pay. Mark Hine, an experienced mining engineer, joins as independent non-executive director, bringing underground mining expertise ahead of FID.

director officer appointment

Core signed an unconditional fixed-price sale of its ~5,100dmt spodumene concentrate stockpile to Glencore at a SC6 equivalent of ~US$2,023/t, over 50% above the restart study price. Payment is due in the June quarter 2026; ~75,000dmt of fines remains unsold.

material agreement

Core sold its Napperby, Fitton and Entia uranium projects to Elevate Uranium for A$5M (A$2.5M cash, A$2.5M in Elevate shares), plus a 1% royalty on Napperby. The sale is complete, with proceeds for working capital and focus on the Finniss restart.

asset acquisition disposition

Grants will be mined first as an open pit, moving underground later, cutting Grants pre-production capital by A$35-45M and bringing first ore within a month of mobilisation. Grants Ore Reserve rises 33% to 1.53Mt @ 1.42% Li2O. This revises the May underground-only plan.

resource reserve update

Core terminated its final offtake agreement, with Ganfeng, for a one-off US$2M payment. With Yahua already settled in May, all future Finniss spodumene is unencumbered and available to funding partners or spot sales. This resolves the open Ganfeng thread.

material agreement termination

Maiden Carlton Ore Reserve of 4.5Mt @ 1.19% Li2O lifts total Finniss Ore Reserves 42% to 15.2Mt @ 1.26% Li2O (192kt contained, up from 138kt). The restart mine schedule is now 87% backed by reserves, up from 61%.

resource reserve update

Core raised A$50M at A$0.105 per share (about 476.2M shares) in a two-tranche placement run by Argonaut and Canaccord, with cornerstone investors led by Fourth Sail Capital, plus a planned A$10M share purchase plan. Tranche 2 (~A$20.8M) needs shareholder approval.

capital raising announcement

Restart study outlines a 20-year underground operation: unit costs A$690-785/t, pre-production capex A$175-200M (down 29%), ~205ktpa concentrate, A$1.2B free cash flow at US$1,330/t. Morgan Stanley is advising on funding. A final investment decision remains subject to market conditions and funding.

other

Total Finniss Ore Reserve rose to 10.73Mt @ 1.29% Li2O, from 9.25Mt, with Grants doubling to 1.15Mt via a switch to underground mining. Mineral Resource edged up 0.6% to 48.5Mt @ 1.26% Li2O after adding tailings and stockpile material.

resource reserve update

Core terminated the legacy Yahua offtake agreement (signed 2019) for a US$2M cash payment. Core says this gives more scope to secure strategic funding for a restart. This settles the pending Yahua true-up thread.

material agreement termination

Core ended its last operating contracts from the Finniss production period, taking 100% ownership of all site infrastructure for a total A$19.5M payable over four months. It says this cuts care-and-maintenance costs. The restart study stays on track for the June quarter.

material agreement termination

Finniss drilling hit 63m @ 1.67% Li2O from 166m at Blackbeard, inside Core's Mining Lease within 20km of the Grants plant. With Centurion, mineralisation spans over 600m. More drilling is planned after the wet season; it could feed restart studies and a future resource.

drilling result

Final Shoobridge holes returned 12m @ 2.93g/t gold from 56m (including 6m @ 5.12g/t), with a single-metre assay up to 19.76g/t. Less than 1km of the 4.5km trend is tested, and a 4,500m follow-up program has started, building on the September results.

drilling result

Finniss Ore Reserve is now 9.3Mt @ 1.38% Li2O (9.5-year notional life). BP33 reserve rose 223% to 8.7Mt, while Grants fell to 0.6Mt and no reserves are reported for smaller deposits such as Carlton. It supports restart studies; restart is not decided.

resource reserve update

Shoobridge assays for 21 of 28 holes include 2m @ 12.9g/t gold from 54m, plus lithium up to 1.41% Li2O at Barretts. Core plans expanded drilling aimed at a maiden gold resource, adding a gold angle beyond lithium; remaining results are due this month.

drilling result

After its Charger offer lapsed, Core agreed to buy 7.6M Charger shares (9.8%) from Lithium Australia for 6.08M new Core shares, and a 30% free-carried Bynoe interest for A$500k cash, subject to Charger's 60-day pre-emptive right. Core has no current intention to make a takeover offer.

asset acquisition disposition

Core confirms it offered Charger Metals a non-binding all-share scheme merger, 0.9 Core shares per Charger share, first proposed on 25 July 2024. The offer is subject to due diligence, and Core says Charger has not provided access. It would add Charger's Bynoe and Lake Johnston projects.

business combination

This is Charger Metals' announcement, not Core's. Charger says it received Core's unsolicited non-binding all-scrip offer of 0.9 Core share per Charger share (about A$6.5M, A$0.084 per share), and its board says the terms undervalue it. This is the first public sign of Core's bid.

business combination

FY24 concentrate production was 95,020dmt, at the top of the 90,000-95,000dmt revised guidance, with sales of 97,423dmt. Processing has now stopped and Finniss is paused. Cash was A$87.6M with no debt; an NT royalty assessment of about A$6.4M for FY23 will be contested.

production update

Paul Brown, currently CEO of Hastings Technology Metals and formerly of Mineral Resources (CEO Lithium and Iron Ore), is appointed permanent CEO from 4 June 2024, ending the search after Gareth Manderson's departure. Interim CEO Doug Warden leaves in early July.

director officer appointment

Finniss resource rises 58% to 48.2Mt @ 1.26% Li2O, from 30.6Mt @ 1.31%. Lees and Booths combined grow 429% to 14.5Mt, and Seadog gets a maiden resource. Measured and Indicated is 27.9Mt, about 58% of the total.

resource reserve update

CEO Gareth Manderson, in the role since August 2022, steps down; CFO Doug Warden becomes interim CEO and James Virgo interim CFO from 18 March. An executive search is under way. Core also notes inbound enquiries about its Napperby and Fitton uranium projects.

director officer appointment

Half-year to 31 Dec 2023: revenue A$134.8M but net loss A$167.6M, including A$119.6M impairment (confirming the flagged Finniss writedown) and A$27.6M onerous contract provisions. Cash was A$124.8M; 49,530t concentrate produced. The loss contrasts with the FY23 profit.

half year report

The Lucas mining services contract (signed Sept 2021) is terminated by mutual agreement, with Core paying Lucas A$10M. Stockpile processing continues to mid-2024. Core will look for alternative mining solutions if open pit mining restarts, which has been suspended since January.

material agreement termination

Strategic review outcome: Grants open pit mining is temporarily suspended and processing continues from about 280,000t of stockpiles, enough until mid-2024. BP33 early works stay paused after box cut completion. Core flags a likely impairment of Finniss in half-year results.

other

A strategic review is under way because spodumene concentrate prices have fallen over 80% this year, over 40% since end-October. BP33 early works are suspended, and mining may be temporarily curtailed. Processing of the ROM stockpile continues through the wet season.

other

The BP33 resource rose to 10.5Mt @ 1.53% Li2O from 10.1Mt @ 1.48%. The Measured and Indicated share rose to 9.36Mt (89%), up from 6.94Mt, so more can be considered for conversion to Ore Reserves for the updated feasibility study.

resource reserve update

First full-year profit: FY23 revenue A$50.6M, EBITDA A$14.0M, net profit A$10.8M, operating cash flow A$90.8M, cash about A$153M, no debt. FID for BP33 remains on track for the March quarter.

annual report

The share purchase plan raised about A$11.4M, issuing 28,418,750 shares at A$0.40, below the A$20M target. With the A$100M placement, total equity raised is about A$111.4M.

capital raising announcement

The first 10,000t concentrate delivery into Ganfeng's long-term offtake and the first 15,000t fines parcel (1.2% Li2O) have been loaded on the Clearwater Bay at Darwin, bound for China. Concentrate is priced on a formula linked to the lithium spot price.

production update

A 10,000t concentrate parcel, the first into long-term offtake (to Ganfeng), is at Darwin ready for export, within contract specs. A first 15,000t fines parcel (1.2% Li2O) is also nearly at port, giving an outlet for material while recovery work continues.

production update

The A$100M placement at A$0.40 completed, issuing 250 million new shares, backed by existing and new institutional investors. Funds go to BP33 early works, recovery improvements and exploration. The SPP (up to A$20M, A$0.40) follows, closing 15 September.

capital raising announcement

Core launched a fully underwritten A$100M placement at A$0.40 a share, plus a non-underwritten A$20M share purchase plan at the same price. Funds go to BP33 early works, plant optimisation, exploration and study work during ramp-up. Pro forma cash is about A$201-221M.

capital raising announcement

First production guidance: FY24 sales of 90,000-100,000t at C1 cost A$1,165-1,250/t, with output and costs worse than the 2021 feasibility study (recoveries about 49%). FY25 output is expected to be below FY24. Cash was A$152.7M with no debt.

quarterly activities report

The board approved A$45-50M of early works at BP33 (covered box cut, access, water management), awarded to Darwin-based Northern Australian Civil. Final scope, capital cost and investment decision are now expected by end of Q1 CY24, once the larger resource is built into the study.

drilling scheduled

The NT Government granted the BP33 mining authorisation and approved its Mine Management Plan, the last approval step before a possible board investment decision. The maiden concentrate cargo (about 5,500t at 5.6% Li2O, for Yahua) is loading at Darwin. A$21M received for the first parcel.

regulatory community update

Total Finniss resource rose 62% to 30.6Mt @ 1.31% Li2O, from 18.9Mt, with Measured and Indicated up 46% to 19.4Mt. New maiden resources at Bilatos and Penfolds were added, and an updated reserve is being prepared. A$25M is allocated to the 2023 drilling.

resource reserve update

The first 3,500t of concentrate (5.6% Li2O) is at Darwin port ahead of the end-April target, ready to ship to Yahua. Grants pit is dewatered and mining resumed in late March, with the 15,000t second parcel now in production.

production update

Yahua agreed to buy about 18,500t of extra concentrate: roughly 3,500t of first commissioning concentrate (FOB, ready by end-April) and 15,000t under a prepayment, 80% payable in April. Both are priced to Fastmarkets with no floor or ceiling, and are on top of the 300,000t four-year deal.

material agreement

BP33 resource more than doubled to 10.1Mt @ 1.48% Li2O from 4.37Mt @ 1.53%, with 69% in the higher-confidence Measured and Indicated categories. It remains open at depth, and a Finniss-wide resource and reserve update is under way.

resource reserve update

First spodumene concentrate was produced and DMS plant construction is complete. However, water in the Grants pit has held back ore, so part of FY2023's planned concentrate slips to FY2024. First shipment is due to reach Darwin by end-April, with ongoing production expected by July 2023.

production update

Doug Warden, previously CFO of Resolute Mining and Iluka Resources, is appointed CFO from 17 April 2023 after a handover from interim CFO Andrew Forman. This resolves the CFO search begun after Iacopetta's November resignation notice.

director officer appointment

Core is moving its head office from Adelaide to Perth, with the Perth office due by mid-2023 and Adelaide closed by end-2023. Melissa Winks joins as sustainability head and Andrew Forman becomes interim CFO from February, replacing departing CFO Iacopetta; permanent CFO search continues.

director officer appointment

The Rossana sailed from Darwin with the 15,000 dmt DSO cargo at US$951/dmt for a buyer in Fangcheng, China. Core calls it its first revenue event. Focus now shifts to finishing the DMS plant for concentrate production.

production update

Loading began at Darwin Port of the first export shipment, 15,000 dmt of DSO at 1.4% Li2O sold at US$951/dmt, bound for Fangcheng, China. This delivers on the end-2022 export target given since FID. Concentrate production is still due H1 2023.

production update

Near-mine drilling gave Bilatos 61m @ 0.87% Li2O (shallow, 22km from the plant) and Far West 12m @ 1.66%, plus Hang Gong 7m @ 1.86%. These are potential extra ore sources for the Grants plant. Drilling continues, with a larger 2023 program planned.

drilling result

CFO Simon Iacopetta is stepping down after four years and will stay for an orderly transition while Korn Ferry runs a global search. He called the business in sound financial shape. Second senior executive departure within days, after COO Duncan.

director officer appointment

Crushing began 9 November 2022 and the first DSO truck left Finniss for Darwin Port, with ship loading due at month end. COO Blair Duncan resigned; Mike Stone, ex-Rio Tinto, joins 5 December as COO, and Samantha Rees is the new people and culture head.

production update

The 26 October deadline for a definitive Tesla supply agreement passed without one being signed. Core says it will keep talking with Tesla. Ganfeng and Yahua offtake still covers about 80% of the first four years' output.

material agreement termination

Managing Director Stephen Biggins resigned from the role and the board with immediate effect, earlier than the end-2022 date flagged in March. This completes the handover to CEO Gareth Manderson, who started in August 2022.

director officer appointment

Primero, already building the DMS plant, won a five-year contract to operate and maintain it and the tailings facilities, valued at about A$60M. Concentrate production remains scheduled for H1 2023. This extends Primero's role beyond construction.

contract award

Final three BP33 deep diamond holes confirm the earlier visual results, including 72.74m @ 1.56% Li2O and 22.0m @ 1.60%, to 830m depth. Southern body grade remains variable. Core expects a BP33 resource increase and will bring forward early works using placement funds.

drilling result

Core's first spodumene DSO tender sold a 15,000 dmt cargo at 1.4% Li2O for US$951/dmt, shipping from Darwin in late Q4 2022. This is the first lithium sale from Finniss and will test logistics ahead of concentrate production in H1 2023.

contract award

Core completed the fully underwritten A$100M placement of about 97.1M shares at A$1.03, citing strong demand from domestic and offshore institutions. Settlement is due 7 October with allotment 10 October. This resolves the raising launched on 30 September.

capital raising announcement

Core launched a fully underwritten A$100M placement of about 97.1M shares at A$1.03, a 6.8% discount to the last close. Funds go to faster exploration (A$25M budgeted for 2023), early works at BP33, the night shift and working capital. Dilutes existing holders.

capital raising announcement

First spodumene ore was uncovered at the Grants pit on 15 September 2022, and first DSO shipment preparations are under way for before year-end. BP33 diamond holes hit 22.85m @ 1.59% Li2O, with intersections to 830m depth and over 400m outside the current resource, so a resource increase is expected.

drilling result

Core appointed Gareth Manderson, a Rio Tinto veteran of 22 years, as CEO from 8 August 2022, succeeding Stephen Biggins, who resigned in March. This resolves the CEO search; Biggins stays as a director during the handover. Total fixed pay is $718,250.

director officer appointment

Finniss resource rose 28% to 18.9Mt @ 1.32% Li2O, and Ore Reserve rose 43% to 10.6Mt @ 1.3%, extending mine life from 8 to 12 years. This delivers the upgrade flagged since March, including Ah Hoy's maiden resource (0.8Mt @ 1.20%). First DSO shipment is targeted by end-2022.

resource reserve update

The NT Environment Minister granted environmental approval for the BP33 underground mine, the second mine approved at Finniss. Core will now lodge a Mining Management Plan; it anticipates mining authorisation by mid-2022, the last approval step. This resolves the BP33 approval thread.

regulatory community update

Core signed a binding agreement to buy the Shoobridge tenement (EL31407) from Newmont, about 80km SSE of Finniss. It has historic tin-tantalum pegmatites untested for lithium. Completion needs NT Ministerial consent; the price is not visible in the provided text.

asset acquisition disposition

Foundation Managing Director Stephen Biggins has resigned for personal reasons and will step down before the end of 2022, after nearly 12 years. The board has hired Korn Ferry to search for a new CEO, a leadership change during construction.

director officer appointment

Core signed a legally binding term sheet to supply Tesla up to 110,000 tonnes of spodumene concentrate over 4 years, with a price floor and ceiling. A definitive agreement is required by 27 August 2022, and Tesla would also support downstream processing plans.

material agreement

Deep drilling at BP33 returned strong results, including 57.35m @ 1.83% Li2O, and a southern extension was found beyond the current resource. Core expects the BP33 resource estimate to increase, with expanded drilling restarting in early Q2 2022.

drilling result

Drilling at Ah Hoy returned thick lithium intercepts, such as 19m @ 1.21% Li2O, and Core says they likely support a maiden resource estimate in coming months. Far West results were more variable, with a best of 6m @ 1.79% Li2O.

drilling result

Core exercised its option to buy six mining leases next to Finniss, which include over 30 historic pegmatite mines. Price is $5M (at least $1.5M cash), plus up to $5M contingent on resources found. First drilling hit lithium, for example 22m @ 0.74% Li2O. This resolves the Leviathan option thread.

asset acquisition disposition

Core said construction of Finniss has started, following the 30 September final investment decision. Site works are under way, mining is due later this year, DMS plant construction starts March 2022, and first concentrate is scheduled for Q4 2022. It says the project is fully funded with $150M raised.

other

Ganfeng's 75,000tpa four-year offtake and A$34M equity investment became unconditional after Chinese approvals. Core has received the A$34M and will issue 100,591,715 shares, giving Ganfeng about 6.1%. This resolves the 31 October conditions thread.

material agreement

Core's board made the final investment decision to build Finniss, saying it is fully funded after raising A$116M. Site establishment starts in October 2021, with first concentrate scheduled for Q4 2022. This resolves the long-running FID and construction thread.

other

Core awarded Primero the EPC contract to build the Finniss DMS plant, converting its preferred-contractor status. Work starts after the investment decision, on-site plant construction begins March 2022, and first concentrate is scheduled for Q4 2022.

contract award

Core signed a 3-year open pit mining contract with Lucas TCS for the Grants pit, moving Lucas from preferred contractor to awarded. This supports starting construction before end-2021, with a final investment decision expected within weeks and first production in late 2022.

contract award

The share purchase plan drew over A$43M in applications against a A$15M target. Core raised the size to A$25M, scaled back all applications, and will issue about 81M shares at A$0.31, extra funds going to acquisition, exploration and resource drilling.

capital raising announcement

The A$91M placement at A$0.31 was completed, with demand well above the shares on offer. With Ganfeng's A$34M (pending approvals) and the share purchase plan, Core says Stage 1 is fully funded, with first production targeted for late 2022.

capital raising announcement

Core signed a binding 4-year offtake with Ganfeng for 75,000tpa of concentrate, with a price floor, plus a A$34M equity investment at A$0.338. With Yahua's 75,000tpa, about 80% of early Stage 1 output is contracted. Needs shareholder and Chinese approvals by 31 October 2021.

material agreement

Core launched a fully underwritten A$91M placement of ~293M shares at A$0.31, plus a Ganfeng A$34M investment at A$0.338 and a share purchase plan of up to A$15M. Total up to A$140M, which Core says fully funds Stage 1, resolving the funding thread before construction start in 2H 2021.

capital raising announcement

Updated Stage 1 DFS lifts Ore Reserves 30% to 7.4Mt @ 1.3% Li2O, supporting an 8-year mine life. It shows initial capex of A$89M (up from US$50M in the 2019 DFS), pre-tax NPV8 of A$221M, 53% pre-tax IRR and 2-year payback. FID is targeted before end-2021 construction start.

resource reserve update

Core won a $6M federal Modern Manufacturing Initiative grant to assess a lithium hydroxide plant at Darwin's Middle Arm precinct, following April's hydroxide test work. A feasibility study will follow a scoping study. Construction of the mine is still on track to start before end-2021, subject to financing.

material agreement

Core signed a two-year grid connection agreement with Power and Water Corporation, securing 5,000 kVA of capacity for Finniss. This closes the open grid power thread. Construction is expected to start before end-2021, with first exports in 2022.

material agreement

Core signed a 5-year Port Operating Agreement for Darwin Port facilities, covering truck dump, ship loader and conveyor. It converts the non-binding 2017 Heads of Agreement into a binding deal. Core targets first exports in 2022 after an FID expected in coming months.

material agreement

Core set a new Exploration Target of 9.8-16.2Mt at 0.8-1.4% Li2O across seven prospects, on top of the existing 15Mt @ 1.3% resource. It is conceptual only, not a resource. NT approval to drill the acquisition leases was received.

resource reserve update

Scoping-level ANSTO test work turned Finniss concentrate into battery-grade lithium hydroxide, with over 95% lithium extraction. Core is now considering downstream processing; FID is now targeted for Q3 2021, with offtake deals still being negotiated.

other

Federal Government awarded Finniss Major Project Status for three years, giving a single entry point for federal approvals. Core says construction is anticipated in H2 2021, subject to conditions including FID, with the updated DFS due in H1 2021.

regulatory community update

Core signed an option to acquire six granted mineral leases next to Finniss, holding over 30 pegmatites historically mined for tin and tantalum. Aim is to complete the acquisition in 2021 and add resource and mine life; drilling needs approvals, expected next quarter.

asset acquisition disposition

More Grants assays support the resource, including 31m @ 1.65% Li2O and 36m @ 1.34% Li2O. One hole hit about 55m of pegmatite outside the current resource, with assays awaited. A resource upgrade is expected next month and the updated DFS is now stated for Q2 2021.

drilling result

Core raised $40M through a placement of 160M shares at $0.25 to institutions, a 4% premium to the 20-day VWAP, with one free $0.45 two-year option per two shares. Funds go to Finniss development, resource drilling and working capital; construction is anticipated before year-end, subject to FID.

capital raising announcement

Core was granted a 25-year Mineral Lease for the BP33 deposit, its second lithium mining lease after Grants in 2019. This secures development tenure for BP33; the company's earlier-flagged environmental approvals for BP33 are not covered in this announcement.

regulatory community update

Core has received several expressions of interest in its non-core Blueys silver project near Alice Springs and is weighing a sale or restructure of its silver and gold assets. No price or deal is agreed; Finniss lithium stays the focus.

asset acquisition disposition

Core now targets FID in 2021, not 2020, timed for an expected lithium price recovery, and will upgrade the study to definitive level in Q1 2021. It is evaluating higher capacity, grid power and a deeper Grants mine. A resource drilling campaign is expected to start next month.

other

Core signed a non-binding MOU with Xinfeng for 20,000-30,000tpa for three years, with potential project finance. A $1M placement to Xinfeng at 4.6c is escrowed 12 months. Yahua, Transamine and Xinfeng together equal about 85% of capacity, but only Yahua is binding.

capital raising announcement

NT Government's Local Jobs Fund offered a non-binding term sheet for a $5M concessional loan: 36 months at BBSW+2%. It is conditional on binding offtake for at least 50% of production, balance of funding and a final investment decision. Resolves the May application outcome, only indicatively.

debt financing

Finniss Ore Reserve rises 159% to 5.7Mt, backing a 7-year mine life (roughly double the 2019 study's 3.5 years). It adds maiden underground reserves at BP33 and Carlton, with start-up capital said to be materially unchanged. Core targets FID in 2020.

resource reserve update

Finniss resource rose 52% to 15Mt @ 1.3% Li2O (14.72Mt in the table). Measured and Indicated rose 150% to 7.62Mt @ 1.41%. An updated mine plan and Ore Reserve were due later in June.

resource reserve update

Core raises $5.5M via a placement of 129.8M shares at 4.25c, plus a $1.5M share purchase plan on the same terms. Funds go to Finniss studies, environmental work and drilling later in 2020. Director McComas commits $61,557, subject to shareholder approval.

capital raising announcement

Core signed a non-binding term sheet with Geneva-based Transamine for 50,000tpa of spodumene concentrate over five years, alongside Yahua's binding 75,000tpa. A binding deal is expected later in 2020, subject to due diligence and Core's final investment decision; an optional financing facility is also mentioned.

material agreement

The NT Government approved Core's Mine Management Plan for Finniss, which Core calls the final regulatory hurdle to start site activities. This resolves the delayed approval flagged in December. Core aims to be construction-ready in 2020, ahead of sourcing debt and equity.

regulatory community update

Core announces a new gold project, Adelaide River (application EL31886), 25km from Finniss, based on historic rock chips up to 170g/t gold. Results are unverified and not JORC-reported. Fieldwork is planned for Q2 2020; Core says lithium remains its focus.

asset acquisition disposition

Carlton assays include 35m @ 1.32% Li2O and 32m @ 1.52% Li2O, outside the current resource. At least two pegmatite bodies are confirmed, open to the south and at depth. Core says a significant Carlton resource expansion and maiden reserve are due this quarter.

drilling result

BP33 assays: 107m @ 1.70% Li2O (106.6m, estimated 40m true width), plus 19m @ 1.35% and 14m @ 1.02%, all outside the current resource. Confirms the December visual estimate. BP33 resource upgrade now planned for February; the updated feasibility study is due in the first half of 2020.

drilling result

BP33 hole intersected 119m of pegmatite (105m strongly mineralised), outside the current resource and open at 400m depth. Resource and reserve upgrade is now planned for the March 2020 quarter. Mining Management Plan approval is taking longer than expected, and Core now aims to be development-ready as markets improve in 2020.

drilling result

All six completed deep RC holes at Carlton hit spodumene pegmatite over 31m wide (up to 44m), extending it about 100m deeper and 100m south, plus a second body. Assays are due in about 3 weeks; core expects a maiden Carlton reserve and larger resource.

drilling result

Thick high-grade BP33 results, including 52m @ 1.28% Li2O and 56.75m @ 1.81% in a deep diamond hole, with grade rising at depth. Core expects a substantial BP33 Ore Reserve increase and sees potential for bulk underground mining; no new resource figure yet.

drilling result

First assays from the Finniss resource-growth drilling include 47.4m @ 1.53% Li2O at Grants, 31m @ 1.13% at Carlton and 13m @ 1.56% at Hang Gong. Core expects part of the Hang Gong target to convert to resource, though hole collapses limit tonnage.

drilling result

LRC got unconditional FIRB approval, so the A$6.875M held in escrow is released to Core. The SPP underwriters also took 8.75M shares at 4c ($0.35M). Core cites $11.8M raised across the SPP, royalty and placement; shares now 786.9M.

capital raising announcement

The SPP closed oversubscribed, raising $3.3M at 4c (83.725M shares, versus $2M targeted), lifting shares on issue to 778.2M. The first $6.9M of LRC royalty funds is expected in July. Money will fund resource drilling and exploration ahead of a final investment decision.

capital raising announcement

The NT environment regulator delivered a positive Assessment Report on Grants, completing the environmental impact assessment. Core will now submit a Mining Management Plan, with authorisation expected next quarter. This advances the open approvals thread, though full approval is not yet granted.

regulatory community update

Core offers shareholders a Share Purchase Plan to raise up to $2.0M at 4.0c, partly underwritten to $1.0M, alongside the $8.1M LRC royalty. Underwriter gets a 5% fee and 4M options at 6c. Funds go to Finniss development, resource drilling and working capital.

capital raising announcement

Lithium Royalty Corp pays A$8.125M for a 2.5% gross revenue royalty over Finniss. A$6.875M is held in escrow until FIRB approval (expected within 8 weeks); A$1.25M depends on a 15Mt resource and 14 days of continuous plant operation. A non-dilutive funding source.

asset acquisition disposition

Maiden Lees resource of 0.78Mt @ 1.3% Li2O (Inferred) lifts the Finniss total to 9.63Mt @ 1.3%. A 2-3Mt Exploration Target (conceptual) is also defined at Lees-Booths Link. Follow-up drilling is planned in coming months.

resource reserve update

DFS and maiden Ore Reserve (1.4% Li2O) for Grants and BP33: capex A$73M, pre-tax NPV A$114M, IRR 80%, payback 1.5 years, up to 180,000tpa concentrate. Capex is up from PFS A$53.5M and NPV down from A$140M. Construction targeted 2H 2019, production 1H 2020, subject to financing and approvals.

resource reserve update

Core and Yahua expanded the existing binding offtake by 50% to 75,000tpa of 5.5% Li2O concentrate, covering 300,000 dry tonnes to 30 November 2023. It has a price floor and ceiling for the first 2 years and covers about 40% of Grants and BP33 production.

material agreement

Carlton resource rises 38% in three months to 1.1Mt @ 1.3% Li2O, 42% Indicated, lifting the Finniss total to 8.85Mt @ 1.3%. Hang Gong and Lees-Booths Link updates are expected before the DFS. Construction is now targeted Q3 2019, with production early 2020.

resource reserve update

Diamond drilling found a new 26m spodumene pegmatite just 15m west of the Carlton orebody. It will not be in the initial DFS. A Carlton resource update is due next week, with more drilling in mid-Q2 2019.

drilling result

Simon Iacopetta is appointed CFO from early March, filling the role left after Erik Palmbachs died in Nov 2018. A metallurgical advisor and project manager were also appointed, and a marketing manager is being sought. Resolves the CFO thread.

director officer appointment

Maiden Hang Gong resource of 1.4Mt @ 1.2% Li2O (Inferred) lifts the Finniss total to 8.55Mt @ 1.33%, from 7.1Mt. An Exploration Target of 3-5Mt is also flagged, which is conceptual. The DFS may not include all the new resources.

resource reserve update

Primero is preferred EPC/FEED contractor, Lucas TCS for mining and Qube for haulage. These are preferred status only; final awards follow the DFS and project financing. First production is still targeted for end-2019.

contract award

Core was granted a 20-year Mineral Lease for Grants, the first lithium lease in the Northern Territory, three months earlier than expected. It resolves the lease application lodged in Oct 2017. DFS is due end of March quarter; first production still targeted end-2019.

material agreement

Maiden Carlton resource of 0.79Mt @ 1.3% Li2O lifts the Finniss total to 7.1Mt @ 1.4% Li2O, from 6.3Mt. Hang Gong and Lees-Booths estimates are due in January. Grants mining lease is expected within a month.

resource reserve update

Placement of about 60M shares at 5c raises about $3M, including $1.5M from Yahua and Ruifu. Funds go to the feasibility study and resource drilling. The expanded DFS is now targeted for late Q1 2019. Ruifu binding deals still pending.

capital raising announcement

The feasibility study, due late November, is delayed to include the expanded resources and a possible higher-grade product. Yahua and Ruifu commit $1.5M at 5c within up to $4M planned. Binding Ruifu deals now expected Q1 2019; construction timetable unchanged.

capital raising announcement

Maiden Sandras resource of 1.3Mt @ 1.0% Li2O lifts the Finniss total to 6.3Mt @ 1.4% Li2O, from 5.04Mt. Sandras is lower grade than Grants and BP33. More resources are planned over the next 2 months.

resource reserve update

BP33 resource upgraded 51% to 2.15Mt @ 1.5% Li2O, now partly Indicated (0.63Mt) rather than all Inferred. Finniss total rises to 5.04Mt @ 1.5% from 4.31Mt. Core says it is negotiating further offtake and prepayment deals; DFS due late November.

resource reserve update

Grants resource upgraded 42% to 2.89Mt @ 1.5% Li2O, with two-thirds Measured or Indicated. Finniss total now 4.31Mt @ 1.4%, up from 3.45Mt. DFS remains on track for late November 2018; mining targeted mid-2019, first production late 2019.

resource reserve update

Napperby uranium re-estimated to JORC 2012 at 9.54Mt @ 382ppm U3O8 (8.03Mlb), up from the historic 9.34Mt @ 359ppm. Core says multiple parties have expressed interest and will now engage on a sale or partial sale, keeping focus on lithium.

resource reserve update

BP33 extension drilling returned wide intersections including 63m @ 1.50% and 59m @ 1.59% Li2O, thicker and higher grade down-plunge than expected. A new resource estimate is expected in coming months; the maiden resource was 1.42Mt @ 1.4%.

drilling result

Non-binding term sheet with Shandong RuiFu Lithium for up to 150,000tpa concentrate offtake, a conditional US$35M prepayment, and a roughly $3.0M placement at 5c for a 10% stake. Together with Yahua's US$20M, this gives US$55M of potential prepayments. Binding agreements are targeted within weeks.

material agreement

Assays confirm Grants extensions outside the resource, including 67m @ 1.57% Li2O and 45m @ 1.72% Li2O. Of 12 holes, six had significant intercepts, five at the edges were barren and one missed depth. Results may feed the feasibility study resource.

drilling result

New Grants drilling found spodumene pegmatite south and deeper than the defined resource, including a 73m intersection; all 10 holes hit pegmatite. This suggests the resource and mine life could grow beyond the PFS case. Assays are due late July.

drilling result

Grants PFS shows pre-tax NPV10 of A$140M and 142% IRR on a 26-month initial mine life, with A$53.5M capital cost. Yahua's US$20M prepayment is expected to cover about half the capital. Board approved starting the Feasibility Study, due late 2018.

resource reserve update

Maiden BP33 resource is 1.42Mt at 1.4% Li2O, all Inferred, lifting total Finniss resources 70% to 3.45Mt at 1.4% Li2O. The resource sits only 20m south of the 75m at 1.68% hole and remains open. Extension drilling restarts next month.

resource reserve update

Grants resource upgraded to 2.03Mt at 1.5% Li2O, with Indicated more than doubling to 1.13Mt, versus the 492kt Indicated in the May 2017 maiden 1.8Mt estimate. It feeds the PFS, due next month. Environmental assessment is expected to take up to 12 months.

resource reserve update

Yahua committed a further $1.4M at 5.3c (26.4M shares), on top of its $2.0M in 2017, taking it to a 9.7% holding before SPP shares. Funds go to resource and regional drilling at Finniss. It uses the same placement capacity (LR 7.1).

capital raising announcement

Core raised about $5M through a placement of about 95.3M shares at 5.3c, with a Share Purchase Plan of up to $2M at the same price to follow. Broker Hartleys also gets 58.1M options at 8c, subject to shareholder approval. Funds go to the PFS, feasibility study and drilling.

capital raising announcement

Assays for BP33 hole FRCD007 give 75m at 1.68% Li2O, including 55m at 1.97%, the widest spodumene pegmatite drilled in the NT. It confirms February's visual estimate and the hole ended in mineralisation. A maiden BP33 resource is now expected in May.

drilling result

Diamond hole FRCD007 at BP33 intersected 86m of spodumene pegmatite and ended still in it, the widest in the NT. This is a visual estimate, not assays, at 15-20% spodumene. Minimum true width is at least 40m; more drilling is planned in the Q2 dry season.

drilling result

First Core drilling on the Bynoe ground hit high grades at four historic pegmatite prospects, including 10m at 1.6% Li2O at Carlton and 5m at 2.2% at Hang Gong. Pegmatites are shallow-dipping and within 5km of Grants. Follow-up drilling is planned when the dry season starts.

drilling result

Core's first drilling at Sandras on the acquired Bynoe ground hit 27m at 1.45% Li2O (including 7m at 2.13%) and 38m at 1.08%. This shows spodumene pegmatite beyond Grants and BP33. Further drilling is planned for 2018.

drilling result

Remaining BP33 assays extend hole FRC104 to 62m at 1.24% Li2O, adding to November's 54m at 1.42%. Pegmatite is open north and south and thicker at depth. Diamond drilling continues toward a first BP33 resource; FRC105's 8m of pegmatite returned no significant lithium.

drilling result

Core signed a binding offtake with Yahua for 1 million dry tonnes of Finniss DSO, plus a conditional US$20M prepayment, repayable in DSO or concentrate. Drawdown needs a mining licence, a feasibility study and a decision to mine by 31 Dec 2019. First deliveries targeted mid-2019.

material agreement

Yahua's second $1M tranche (16.7M shares at 6c) completed after shareholder approval, taking Yahua to 33.4M shares, or 6.73%. Core also issued 1.5M options at 7c and 2.9M performance rights to staff. Binding offtake still pending.

capital raising announcement

BP33 assays confirm wide high-grade lithium: 54m at 1.42% Li2O in FRC103 and 46m at 1.51% in FRC104, among the widest in the NT. Diamond drilling has begun toward a first BP33 resource, which Core expects to add to Finniss resources.

drilling result

First Core holes at BP33 on the newly acquired Bynoe ground hit the widest spodumene pegmatite yet there, including 55m in FRC103 and a 65m total in FRC104. These are visual estimates; assays are due within four weeks. Earlier best was 38m at 1.5% Li2O.

drilling result

Core lodged its Notice of Intent with the NT environmental regulator, the first environmental approval step for a Grants mine, following last month's mining lease application. Infill drilling starts December, with an updated resource expected early 2018. Yahua offtake talks are expected to conclude end of November.

regulatory community update

Core completed the Bynoe acquisition from Liontown, paying $1.5M cash and issuing 39,232,025 shares, escrowed in three tranches to November 2018. Finniss plus Bynoe now cover over 500km2, with a granted mining lease about 1km from Grants. Drilling this month.

asset acquisition disposition

Core applied for a mineral lease over the 100%-owned Grants deposit, the key permit step toward a DSO mine. This delivers the mining lease application flagged earlier; the Yahua offtake remains under negotiation.

regulatory community update

Core agreed to buy Liontown's adjacent Bynoe lithium project, including a mining lease about 1km from Grants and the extension of BP33 (38m at 1.5% Li2O). It adds over 50 historic pegmatite prospects. Price and terms are in Liontown's release.

asset acquisition disposition

First Ringwood RC drilling (35 holes) hit pegmatites up to 150m true width, with best intersections 52m at 0.14% Li2O and 21m at 0.16%. Grades are low, only anomalous, but show lithium potential; a second shallow phase starts this month.

drilling result

Chinese lithium producer Yahua committed to a $2M placement at 6 cents a share, in two $1M tranches of 16.7M shares. Tranche 1 is complete; Tranche 2 needs approvals by 31 October. The two will negotiate a DSO offtake agreement by 31 October 2017.

capital raising announcement

Blair Duncan, formerly COO of BC Iron, joins as General Manager Project Development to lead a move from explorer to mine developer, starting with a Grants DSO operation. Mining lease application is being prepared; Ringwood RC results are expected in September.

director officer appointment

First Zola RC drilling (9 holes) hit pegmatite up to 70m wide, but no assays above 0.1% Li2O, so no economic lithium. Core says the central zone is only a partial test and will drill outlying pegmatites from September.

drilling result

Core booked its first JORC 2012 resource at Grants: 1.8Mt at 1.5% Li2O (492,000t Indicated, 1,312,000t Inferred) at a 1.0% cut-off. A preliminary mining study is called positive for direct-shipping ore. This delivers the targeted maiden resource.

resource reserve update

Initial test work on Grants core produced a 6.2% Li2O concentrate at 93% stage recovery by flotation. Combined processing is calculated at 6.0% and 80% or better recovery. Core says this supports scoping studies on early direct-shipping ore. Resolves the awaited metallurgy results.

investor presentation

Core signed a non-binding Heads of Agreement with Darwin Port to potentially export up to 1Mtpa of direct shipping ore or 250,000 tpa of concentrate via East Arm Wharf, 70km from Finniss. A binding agreement is not yet agreed.

material agreement

Core won a tender for a tenement over the Napperby uranium deposit, NT, with a 2004-JORC Inferred Resource of 9.34Mt at 359ppm U3O8 for 7.39Mlbs. The resource is historic and unverified by Core. Lithium remains the stated focus.

asset acquisition disposition

New RC assays at Ahoy, Ahoy East and Far West include 12m at 1.22% Li2O at Ahoy. Spodumene is now found at 6 of 7 prospects drilled. Far West grades are lower and mixed; follow-up showed the earlier 45m intersection was cut oblique to dip, so it overstated true width.

drilling result

Two newly granted licences, EL 31271 and EL 31279, add 240km2, lifting Core's 100%-owned Finniss tenure to over 400km2, a 250% increase. Drilling approvals for Zola and Ringwood are now in place for the 2017 field season.

asset acquisition disposition

Six new Grants RC holes all hit thick high-grade lithium, including 59m at 1.45% Li2O and 55m at 1.42%. Grants now spans over 250m of strike and is open at depth. Core says this strengthens the case for early direct-shipping ore production, and may consider a mining study.

drilling result

Core agreed to buy 100% of granted EL 31058 (574km2) in the Barrow Creek pegmatite field, NT, for $85,000 cash plus 1,000,000 shares escrowed six months. It adds to the 2,500km2 of tenure recently granted nearby. No drilling there yet.

asset acquisition disposition

First Phase 2 RC results at the new Far West prospect, 500m from Grants, include 45m at 1.57% Li2O (FRC030) and 17m at 1.12%. Pegmatites were intersected over 1,000m of strike. Assays from further holes are still due.

drilling result

Assays from four diamond holes confirm thick high-grade lithium: 48m at 1.53% Li2O (Grants FRCD003, including 5m at 2.53%) and 34m at 1.47% at BP33. These match the earlier RC results. Two RC rigs continue drilling; 400kg of core is being tested.

drilling result

Phase 2 RC drilling began at Finniss: at least 5,000m, with a second rig due next week. The diamond rig has moved to Grants. Applications to drill Zola and Ringwood are lodged; most assays are expected in December.

drilling spud

Remaining Grants assays confirmed high grades: 40m at 1.66% Li2O (FRC018) and 31m at 1.61% (FRC017), plus 19m at 0.68% at Ahoys. EL 29698 transfer is now registered, so Core owns 100% of its NT lithium tenure. Cash is over $7m.

drilling result

Core reports a newly mapped Ringwood Pegmatite Swarm on EL 31127, at least 2,000m long and 800m wide, between the Mt Finniss mine and Liontown's Sandras find. Surface mapping only, not drilled; likely part of early-2017 drilling alongside Zola.

drilling result

Core raised about $6 million through a heavily oversubscribed placement of about 67 million shares at 9 cents, with Hartleys as lead broker. A $2.5 million share purchase plan at the same price follows. Diamond drilling began, funding faster Finniss work. Shares were about 3.5c in July.

capital raising announcement

Grants assays returned the highest-grade lithium intersections drilled in the NT, best 49m at 1.78% Li2O from 71m, including 9m at 2.05%. Combined with BP33, Core says Finniss is a major discovery. Two Grants holes await assays.

drilling result

Core was granted two 100%-owned licences, EL 31126 and EL 31127, covering 120km2 at Finniss. They include the large Zola pegmatite, now a future target. Core says it holds the largest NT lithium tenure. These were applications previously.

asset acquisition disposition

First assays at BP33 returned high grades, best 34m at 1.60% Li2O from 71m, including 7m at 2.02%. Core calls Finniss a major discovery. The 2,000m program is complete and remaining assays are due over coming weeks. This delivers on the earlier spodumene sightings.

drilling result

Core began its first lithium drilling at Finniss: 2,000m of RC drilling across five targets on EL 29698. Drilling should finish about mid-September, with assays expected mid to late October 2016. This starts the program announced on 9 August.

drilling spud

Core has all statutory approvals and a drilling contractor for its first lithium drilling: 2,000m of RC across 5 targets at Finniss, starting by end of August. Drilling is to finish about mid-September, with assays expected mid to late October 2016.

drilling scheduled

Core applied for two more exploration licences, doubling the Finniss lithium holding to 480km2. These are applications only. Drilling approvals are expected next month, and a soil survey over drill targets is nearly complete.

asset acquisition disposition

Core identified the Zola Pegmatite at Finniss, over 450m wide and up to 1,500m long, which it compares in scale to Pilgangoora in WA. No lithium assays yet; mapping and sampling are underway and drill applications are lodged for next quarter.

other

First rock chip assays from the Mt Finniss mine returned up to 0.8% Li2O (7,859ppm), with many samples above 0.1%. Spodumene was identified. Core notes surface weathering likely lowers lithium, so grades may rise with depth. Results from 25 other mines are due in June.

drilling result

Jilin has terminated its farm-in, so Core regains 100% of the Blueys silver project (EL 28136) that Jilin could have earned up to 80% of. Core will look at other options for it while focusing on lithium. First Finniss assays are due before end of May.

material agreement termination

Core raised about $2.2M from a heavily oversubscribed placement of about 52M shares at 4.2c, led by Hartleys. Funds go to Finniss and Anningie lithium evaluation; a fully funded maiden drilling program is expected in Q3 2016.

capital raising announcement

Core applied for four exploration licences covering about 2,500 sq km around the Anningie and Barrow Creek pegmatite fields in the north Arunta, extending its lithium push beyond Finniss. These are applications only, expected to be granted in Q3 2016; no lithium work yet.

asset acquisition disposition

Core has an option to buy EL 29698, covering 25 historic tin-tantalum mines in the Bynoe field, from AU Exploration for $80,000 (part cash, part cash or shares). It adds to Finniss, with exploration access for up to 12 months. Lithium has not been explored there.

asset acquisition disposition

Placement of about 43.5M shares at 2.2c to raise about $950,000, led by Hartleys, each with an attaching 5c option expiring August 2017. Funds go to lithium exploration starting at Finniss. The attaching options need shareholder approval.

capital raising announcement

Core has applied for three exploration licences covering 200km2 in the Bynoe pegmatite field south of Darwin, the Finniss Lithium Project, including the historic Mount Finniss tin-tantalum mine area. These are applications, not granted licences, and there is no lithium result yet.

asset acquisition disposition

Core says a review of its Northern Territory tenure found lithium-bearing pegmatite potential in the Harts Range and Arunta regions, and it will refocus resources there, helped by the Jilin JV. A strategy shift toward lithium; no results yet.

other

Binding term sheet with China's Jilin No.1 Geological Survey to earn up to 80% of Blueys EL 28136 by funding $1.4M of exploration, plus a $150,000 share placement and $50,000 cash. Conditional on FIRB approval and due diligence; converts the earlier MOU.

farm in farm out agreement

Yerelina assays confirm zinc: 17m at 1.4% zinc plus lead and 19g/t silver at Great Gladstone (including 4m at 3% zinc), and 33m at 0.2% zinc at Big Hill. Core says it has possibly discovered a new MVT zinc system; stratiform targets are next.

drilling result

Core's first Jervois drilling found elevated copper on all five traverses across 15km of the 20km Big-J zone, with surface malachite in places. Holes were shallow (average 10m); best results were 1,498ppm copper. Core calls this above expectations and plans infill drilling in early 2016.

drilling result

Core announced a fully underwritten 1-for-4 rights issue of options at 0.3c each (5c exercise, expiring 31 August 2017), raising up to about $0.13M for working capital. Underwriter is InSync Equity Services. Assays for both drill programs now expected toward end-November.

capital raising announcement

Yerelina drilling hit a 9.8m wide mineralised breccia with zinc and lead sulphides at Great Gladstone (hole YRDH003, from 144m). Drilling is finished at five holes (1,037m); assays are expected in 4-6 weeks. Visual observations only, no grades yet.

drilling result

Maiden drilling has started at Jervois Domain: at least 4,000m of shallow RAB and RC holes testing 14 targets over a 15km strike. Drilling should take about 2 weeks, with assays expected in 4-6 weeks. This follows the slip from the late August start.

drilling spud

Diamond drilling has started at Yerelina: six angled holes, about 1,000m, under outcropping zinc-lead-silver mineralisation at Great Gladstone and Big Hill. It is the first drilling of these targets. Drilling takes 3-4 weeks, with assays expected in October.

drilling spud

The SPP closed raising only $125,500 from shareholders (5.02M shares at 2.5c); underwriters took 18.98M shares, bringing the total to $600,000, plus 12M options at 5c expiring 31 August 2017. Fees of 6% are payable. Both drilling programs are now funded, with Jervois starting late September.

capital raising announcement

Core signed a non-binding MOU with an unnamed offshore party to earn up to 80% of the Inkheart/Blueys tenement (EL 28136) by spending $2M over 2 years: 51% for $1M in 12 months. Subject to about 3 months' due diligence and funding approval; a JV is expected around end-2015.

farm in farm out agreement

Core launched a Share Purchase Plan to raise up to $1.0M at 2.5c per share, partially underwritten for $600,000, to fund maiden Jervois RC and Yerelina diamond drilling. Underwriters get up to 12M options at 5c, expiring 31 Aug 2017. First drilling is due late August.

capital raising announcement

The Northern Territory Geological Survey awarded $96,000 to co-fund a 1,000m diamond drilling program at Inkheart, planned for the second half of 2015, to test beneath earlier RC intersections. This resolves the open question of what comes next at Inkheart.

drilling scheduled

Geophysical modelling with CSIRO defined 14 potential drill targets along a 15km strike at Jervois, plus a 10km stratiform chargeable zone. Core says drilling needs significant funding and it is negotiating with a possible JV partner. This is modelling, not drilling.

drilling result

Core won a $75,000 South Australian PACE grant to co-fund six diamond holes (about 1,000m) at its Yerelina zinc-lead-silver project, planned for the second half of 2015. Rock chips have run up to 14.7% zinc and 567 g/t silver; the area has never been drilled.

drilling scheduled

All Virginia (12 holes) and Copper Royals (6 holes) results are in: anomalous copper and zinc but no significant mineralised zones. The Virginia copper is described as inconsistently mineralised. This disappoints the copper drilling flagged since October; Core now turns to Jervois, with drilling planned for March 2015.

drilling result

Core raised $750,000 via a placement of 15,000,000 shares at 5c, an 11% discount to last close, each with a free 10c option expiring 31 January 2016. Fees are 6%. Funds support Q1 2015 Jervois drilling and copper follow-up. Shares on issue rise to about 150.5M.

capital raising announcement

RC drilling has started at Virginia, the first ever drilling there, to be followed by Copper Royals targets about 20km west. First assays are expected in 3-4 weeks. This starts the copper drilling flagged since the October quarter report.

drilling spud

Preliminary airborne survey data at Jervois show large conductive targets, including a cluster 2-3km long about 5km east of KGL's 25Mt copper resource. Final modelling with CSIRO is due December 2014, and drilling is planned for Q1 2015. These are targets, not drill results.

drilling result

Final assays from the Inkheart/Blueys drilling extend silver-lead mineralisation to at least 500m of strike, best 3m at 198 g/t silver and 4.1% lead (IKRC016). It remains open along strike and at depth. Focus now shifts to Virginia and Copper Royals; further Inkheart work is to be considered in early 2015.

drilling result

First assays from the follow-up drilling at Inkheart extend the silver-lead zone, with best results 3m at 268 g/t silver and 8.0% lead and 6m at 95.6 g/t silver. Seven of nine holes reported had significant hits. Roughly half of the assays are still pending, due within two weeks.

drilling result

Core completed the purchase of the Albarta joint venture interests, issuing 10,000,000 shares for 14 granted tenements, half escrowed 6 months and half 12 months. Core now holds 100% of over 2,000km2. Registration of the tenements in Core's name is still to occur. The managing director also received 500,000 shares on vesting performance rights.

farm in farm out completion

Core raised $1,000,000 via a placement of 18,181,818 shares at 5.5c, a 5% discount to the last close and a 2% premium to the 15-day VWAP. It funds Blueys/Inkheart, Virginia and Copper Queen drilling and Jervois exploration. Fees are 6%.

capital raising announcement

Colin Skidmore, formerly of Investigator Resources' Paris silver project, is appointed Exploration Manager. Michael Schwarz moves to non-executive director in July 2014, and Managing Director Stephen Biggins' consulting services are extended two years to July 2016.

director officer appointment

Maiden drilling hit high-grade silver-lead: 1m at 1,070 g/t Ag and 8% Pb at Blueys, and a new discovery at Inkheart with 4m at 195 g/t Ag, 5.24% Pb, 2.49% Zn. 16 of 17 holes were anomalous. Follow-up drilling is planned for Q3 2014.

drilling result

Core's first NT drilling is underway at Blueys and Inkheart: 2,500m over 20 holes, expected to take 3-4 weeks. Assay results are expected over the next eight weeks. The targets have never been drill tested below 52m.

drilling spud

Core has land access approvals and signed Coughlan Drilling for its first NT drilling: 2,500m of RC over 20 holes at Blueys and Inkheart, starting next week. This confirms the April plan, now enlarged from 2,000m.

contract award

The Share Purchase Plan closed with applications for 5.56M shares, raising $278,000 of the targeted $750,000. The underwriter covers the shortfall to $500,000, with its shares subject to shareholder approval at the 4 April general meeting.

capital raising announcement

Core raised $750,000 via a placement of 15M shares at 5c, plus a Share Purchase Plan of up to $750,000 at 5c (partly underwritten to $500,000). Funds go to Blueys and Inkheart RC drilling, with drilling due April 2014. Total up to $1.5M.

capital raising announcement

Core agreed to buy out all Albarta joint venture partners, taking 100% of its 20 tenements (over 2,000km2), replacing the earlier earn-in to 51%. Payment is 3M shares (JV1) and 3M plus up to 7M contingent shares (JV2); completion needs ministerial consent and shareholder approval.

asset acquisition disposition

Core's review of new and old surveys identified high-priority IOCG drill targets at its 100%-owned, 400km2 Roxby project, 10km from BHP's Wirrda Well. Core says several parties have expressed interest; this advances the earlier partner-or-sale search. No deal announced.

regulatory community update

An IP geophysical survey found drill targets, mostly 75-150m deep, beneath the high-grade silver at Blueys and Inkheart. Never drilled to these depths. RC drilling is planned for early 2014, subject to land access approvals, which Core has begun seeking.

drilling result

Rock chips in a newly recognised western zone at Blueys returned 1,533 g/t silver, 500m west of earlier high-grade samples. Core says this expands the scale of mineralised outcrop; an IP survey starts this week and drilling access approvals have begun.

drilling result

New surface rock chips at Blueys assayed up to 4,065 g/t silver, 5.5% copper and 25% lead, Core's highest silver grades yet. Samples came from stockpiled material. Infill soils due mid-September, IP geophysics next month; no drilling yet.

drilling result

Core placed the rest of the rights issue shortfall, raising a further $550,354 before costs: 18,345,154 shares at $0.03, each with a free option (10c, expiring 31 Oct 2014). This completes the June 2013 raising and funds Albarta exploration.

capital raising announcement

EL 29689, the last Albarta application, has been granted, so the 20-tenement, roughly 2,000km2 project is fully granted. The release comes with a presentation repeating known results; it targets drill-ready targets in Q4 2013. The grant ends the pending-licence thread.

investor presentation

The rights issue closed 4 July with 14,375,142 shares (about $431k at 3c) taken up or applied for, against a maximum of 32.7M. The remaining 18,345,154 shares and options can be placed within three months. Funds are subject to cleared funds.

capital raising announcement

Core says its new 100%-owned application EL 29689 (310km2) hosts a large copper field, with a 5km copper soil anomaly. The rock chips of up to 14.3% Cu and 72.3 g/t Au are historic, from previous explorers. Core plans its first geophysics there in the September quarter.

drilling result

Core launches a 2-for-3 renounceable rights issue at 3 cents per share to raise up to about $1m, a 38% discount to the last close, with a free 10c option attached. Underwritten to $360,000 by Patersons. Funds go to Albarta and Fitton target work.

capital raising announcement

Core asked for a voluntary trading suspension from 3 June 2013 pending a capital raising announcement, to last until an announcement or 5 June at the latest. This starts a new capital raising thread.

listing compliance notice

First assays from the second Fitton program confirm thick uranium at Scott Lee: 60m @ 482ppm U3O8 (including 4m @ 3,100ppm) in SLRC028, and 75m @ 268ppm in SLRC029. This backs up the earlier scintillometer readings; remaining assays are due late May.

drilling result

Follow-up drilling at Scott Lee shows strongly elevated radioactivity readings, including 77m averaging 442 cps. The Scott Lee structure is now drilled over 1km and is open below 150m depth. These are handheld readings, not assays; assays are due early May.

drilling progress report

First Core rock-chip sampling at Blueys, part of Albarta in the NT, returned over 1,500 g/t silver and up to 9% copper at surface. Silver exceeded standard assay limits and is being retested; drilling is targeted mid-2013. Early-stage surface results only.

drilling result

Core raised $500,000 by placing 6,250,000 shares at $0.08 to sophisticated, professional and institutional investors, deliberately the minimum needed to limit dilution. Funds go to follow-up drilling at Fitton, surveys ahead of 2013 drilling at Albarta, and working capital.

capital raising announcement

Core's first Fitton drilling hit uranium at Scott Lee, best 14m @ 0.10% U3O8 including 5m @ 0.25%, with mineralisation open in both directions. Only the highest-reading samples are reported; assays from 15 holes are due mid-December. Follow-up drilling is planned early 2013.

drilling result

A 2,000m reverse circulation drill program has started at Fitton, testing Scott Lee, Choppy and several nearby magnetic look-alike targets. It is Core's first drilling at Fitton. First assay results are expected by late November.

drilling spud

Newly granted EL 5015 Yerelina adds close to 1,000km2 beside Fitton. Sampling of old mine workings returned up to 203 g/t silver and 13.34% combined lead and zinc. Takes Core's tenure around Fitton above 1,000km2 and opens a base-metal theme alongside copper.

regulatory community update

Core assembled 16 mostly contiguous tenements covering about 1,600km2 in the East Arunta copper-gold province, NT, called the Albarta Project, via two farm-in/JVs, one acquisition and two applications. Exploration starts Q4 2012, with drilling targeted in 2013. Deal terms are in a schedule not visible here.

asset acquisition disposition

Rock chips at the new Choppy prospect, 400m from Scott Lee at Fitton, assayed up to 4.7% copper with gold and silver. Three more magnetic targets were identified. Follow-up assays are now due late September; first drilling still planned for later in 2012.

drilling result

Roxby Downs licence EL 4906 is granted, so Core now holds 400km2 of granted 100%-owned ground about 40km south of Olympic Dam. Core has appointed a corporate advisor to help negotiate with parties wanting a joint venture or acquisition. Resolves the pending grant.

regulatory community update

Fitton rock chip sampling at the Scott Lee prospect returned 0.34% U3O8 (3,370ppm), a four-fold rise on the previous best uranium value, 200m from a copper sample above 5%. Drilling is now planned for August/September 2012.

drilling result

Final assays from the 2,000m Yorke Peninsula program show more low-level copper, best new result 5m at 0.1% copper including 1m at 0.36% in WTDD008. Core calls it low grade but says it supports targeting for higher grades. Completes the April/May assay thread.

drilling result

First assays from the maiden Yorke Peninsula diamond program gave multiple copper intersections, and Core plans an expanded diamond program from June. Fitton drilling is now set for early in the September quarter, and Core is considering a partner for Roxby South.

drilling result

The Roxby Downs licence application (ELA 09/227) has been offered for grant by the SA Government, giving Core over 400km2 of 100%-owned ground south of Olympic Dam. Core is assessing options, which may include a senior partner. Final grant follows a 28-day advertising period.

regulatory community update

The maiden 2,000m diamond program saw visible copper sulphides in all three holes at the Wauraltee prospect, within IOCG-style alteration up to 15m wide. Only visual logging so far; no assays yet, and the company describes the copper as low-level. Assays are due in April.

drilling result

Core started a 2,000-2,500m diamond drilling program with two rigs on its 100%-owned Yorke Peninsula project, testing six gravity-magnetic targets next to Rex's Hillside. Drilling was expected to take about a month, with first assays due in April.

drilling spud

Exploration licence EL 4816 (Sandy Point), over 200km2 about 40km south of Olympic Dam, has been granted. Together with the Roxby Downs application it covers about 400km2. A 10km gravity ridge is highlighted; the Roxby Downs grant is still pending.

regulatory community update

Fitton soil and mapping work extended the copper-uranium anomaly to about 1,500m long and up to 1,000m wide, and the shear zone to over 2km, up from the 650m mapped earlier. Drilling of priority targets is now planned for Q2 2012.

drilling result