The company aims to increase its resource by 2-3 times, extend reserves and mine life to over 7 years and continue to make new exploration discoveries.
() has been granted a trading halt by the ASX pending an announcement on an upcoming capital raising.
The company’s shares will remain halted until the earlier of an announcement being released to market or the start of trade on Wednesday, June 5.
Core is focused on developing the Finniss Lithium Project in the Northern Territory, targeting annual production of 175,000 tonnes of lithium concentrate set to begin in 2020.
An additional 200,000-250,000 tonnes a year of fine lithium (FL) is forecast to be produced as a by-product of concentration at Finniss’ dense media separation plant.
Expressions of interest from a number of parties for the potential purchase of FL have been received, representing a new revenue source from Finniss.
The project hosts a JORC resource of 9.63 million tonnes grading 1.3% lithium across six deposits.
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
In exchange for publishing services rendered by the Company on behalf of Core Lithium Ltd named herein, including the promotion by the Company of Core Lithium Ltd in any Content on the Site, the Company receives from...
FOR OUR FULL DISCLAIMER CLICK HERE