8 May 2024resource reserve update▲ GoodMajor
Raised proven and probable open-pit reserves 40% to 77.0 million tonnes from 54.8 million, enough for about 25 years at the planned 520,000 tonnes a year of concentrate across two processing phases.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 Mar 2024resource reserve update● Neutral
Set the date for 2023 results and confirmed the filing of the updated technical report with the new resource estimate.
19 Mar 2024resource reserve update● Neutral
The technical report behind the 109 million tonne resource, effective 18 January 2024.
31 Jan 2024resource reserve update▲ GoodMajor
Audited resource up 27% to 109 million tonnes: 94.3 million measured and indicated at 1.40% lithium oxide and 14.6 million inferred at 1.37%, against the January 2023 report. Grade held while scale grew, and the company expects to reach 150 million tonnes.
3 Nov 2023drilling progress report▲ GoodMajor
Phase 4 exploration results point to a resource about 25% larger, above 110 million tonnes, with up to 20 million tonnes more identified in a further pegmatite. Framed as potential rather than an estimate at this stage.
13 June 2023resource reserve update● Neutral
The amended and restated technical report, effective 31 October 2022 and reissued 12 June 2023.
20 Jan 2023resource reserve update▲ GoodMajor
Filed the production expansion report. It describes the reserve increase as 60%, where the December release said 63%, and confirms the US$15.3 billion value and US$155 million of expansion capital.
17 Jan 2023resource reserve update● Neutral
The updated technical report, effective 31 October 2022, behind the expansion study.
9 Aug 2022resource reserve update● Neutral
Confirmed the filing of the Phase 3 report supporting June's 50% resource increase to 86 million tonnes at the wholly owned Grota do Cirilo project.
8 Aug 2022resource reserve update● Neutral
The Phase 3 resource technical report, effective 30 May 2022.
22 June 2022resource reserve update▲ GoodMajor
Raised the total resource about 50% to 85.7 million tonnes from 58.9 million: 73.6 million tonnes measured and indicated at 1.43% lithium oxide and 12.1 million inferred at 1.45%, the increase coming from 27 million tonnes at 1.49% in the Phase 3 area.
27 May 2022resource reserve update● Neutral
The technical report itself - Phase 1 definitive feasibility and Phase 2 pre-feasibility, effective 24 February 2022.
26 May 2022resource reserve update▲ GoodMajor
Filed the technical report for the combined Phase 1 and 2 project: after-tax value of US$5.1 billion, average free cash flow of US$595 million a year over thirteen years, 531,000 tonnes a year of concentrate and cash costs of US$454 a tonne delivered to China.
3 May 2022resource reserve update▲ GoodMajor
Updated the feasibility study: Phase 1 alone at an after-tax value of US$1.6 billion, a 424% return and a four-month payback, with reserves up 2.6 times to 34 million tonnes and combined Phase 1 and 2 capacity of 450,000 tonnes a year. Returns of that order describe a small, cheap, high-grade starter pit rather than a mine of Phase 1's eventual size.