Pilbara completes Pre-Feasibility Study

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Pilbara completes Pre-Feasibility Study (based on existing project reserves) to assess the option for a future expansion of the Pilganagoora Lithium-Tantalum Project to achieve 4Mtpa run-of-mine ore production and processing capacity, in addition to the 2Mtpa Definitive Feasibility Study released separately today.

Key results of the PFS on the 4Mtpa expansion option include:

– LOM average annual production of approximately 564ktpa of 6% spodumene concentrates (79ktpa LCE) (including 30ktpa of technical grade 6% spodumene concentrate) and 579,000lbs of tantalite;

– LOM operating costs further reduced to US$180 CFR2 per tonne after Ta2O5 by-product credits;

– Modest incremental capital expenditure estimate of A$128M to expand to 4Mtpa;

– Projected annual average EBITDA increases to A$245M from A$121M; and

– Forecast Net Present Value (NPV3 10%, post-tax) increases to A$1,165M from A$709M.


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