Business
Exceptional Lithium Scoping Study Results, Ghana
Exceptional Lithium Scoping Study Results, Ghana.
About this update from Atlantic Lithium Limited.
[{"type":"text","content":"\n \n \n \n RNS Number : 1428M\n IronRidge Resources Limited\n 19 January 2021\n \n \n \n \n 19 January 2021\n \n \n \n \n \n \n Exceptional Scoping Study Results \n \n \n \n Ewoyaa Lithium Project Supports 2.0Mtpa Operation \n \n \n \n Robust Post-Tax NPV of US$345M\n \n \n \n \n Confirmation Ewoyaa Lithium Project is an industry-leading asset\n \n \n \n \n \n IronRidge Resources Limited (AIM: IRR, \"IronRidge\" or the \"Company\"), the African focussed minerals exploration company, is pleased to announce landmark news in\n completion of a Scoping Study on \n the Ewoyaa Lithium Project (the \"Project\") in Ghana, West Africa, which confirms it is an industry-leading asset.\n \n \n \n Figures and some Table information referred to in this release can be viewed in the PDF version available by clicking this link:\n \n \n \n http://www.rns-pdf.londonstockexchange.com/rns/1428M_1-2021-1-19.pdf\n \n \n \n HIGHLIGHTS:\n \n \n Ø \n \n Scoping Study supports business case for 2.0 Million tonnes per annum (\"Mtpa\") production operation with life of mine (\"LOM\") revenues exceeding US$1.55 Billion, with significant potential to extend LOM.\n \n \n \n Ø \n \n Eight (8) year LOM operation, producing an average 295,000tpa of 6% Li2O spodumene concentrate.\n \n \n \n Ø \n \n Study delivers exceptional financial outcomes:\n \n \n \n o \n \n LOM revenues exceeding US$1.55bn, Post-tax NPV8 of US$345M, IRR of 125% over 8 years\n \n \n \n o \n \n US$68M capital cost with industry-leading payback period of <1 year\n \n \n \n o \n \n C1 cash operating costs of US$247 per tonne of 6% lithium spodumene concentrate Free on Board (\"FOB\") Ghana Port\n \n \n \n o \n \n Pre-tax NPV8 of US$ 539M and EBITDA of US$854M for LOM\n \n \n \n o \n \n Average EBITDA of US$105M per annum \n \n \n \n Ø \n \n Preliminary Australian Nuclear Science and Technology Organization (\"ANSTO\") test-work confirms Ewoyaa concentrate produces high purity, battery-grade Lithium Hydroxide Monohydrate (\"LHM\").\n \n \n \n Ø \n \n Project provides outstanding asset fundamentals, logistics and access to infrastructure:\n \n \n \n o \n \n Conventional open cut mining operation from surface with low stripping ratios \n \n \n \n o \n \n Simple processing via conventional dense media separation only (\"DMS\"), prod...