Core Lithium (CXO) - Advanced Lithium Project Finds High-Grade Gold
Seeking Alpha Analyst Since 2019
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- ASX: CXO.
- Shares Outstanding: 997.8M.
- Share price AUD$0.09 (15.12.2020).
- Market Cap: AUD$86.8M.
Core Lithium is well-positioned to be Australia’s next lithium producer, developing one of Australia’s most capital efficient and lowest cost spodumene lithium projects located near Darwin Port in the Northern Territory, Australia.
Their 2019 DFS highlights the production of 175,000t/pa of high-quality lithium concentrate at a C1 Opex of US$300/t and US$50M Capex through simple and efficient DMS (gravity) processing of some of Australia’s highest-grade lithium Mineral Resources
Company VS The Lithium Market: Share Price up by 50%
We catch up again with Stephen Biggins, MD of Core Lithium (ASX:CXO) and since we last spoke 6 weeks ago, their share price is up 50%. The Lithium price has increased and Lithium companies have seen a reaction in the marketplace. The thematic is being proven that EVs - electric vehicles - are going to be the way of moving people around in the future. There are new records of car sales for electric vehicles in China and Europe. The change of government in the US, the Big Green deal in the EU are all aspects that are feeding into the thematic. Also, there are very few advanced Lithium projects around the globe that are construction-ready, or as construction-ready as Core Lithium is. There is a strong interest from financial investors and also strategic miners in the Lithium sector.
Core Lithium is developing the Finniss Lithium project near Darwin in the Northern Territory. It's one of Australia's most capital-efficient projects – AUD$85M start-up Capex to produce AUD$160M-worth of revenue from producing 175,000t of high-quality Spodumene. It's not only one of the most capital efficient projects, it has the best logistics chain to markets in Asia. It is 25km away from the port and from the infrastructure of Darwin.
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