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Critical Elements Announces Positive Feasibility Study For Rose Lithium Project
MONTREAL, QUEBEC--(Marketwired - Sept. 6, 2017) - Critical Elements Corporation (the "Company" or "Critical Elements") (TSX VENTURE:CRE) (OTCQX:CRECF) (FRANKFUR
About this update from Critical Elements Lithium Corporation
[{"type":"text","content":"MONTREAL, QUEBEC--(Marketwired - Sept. 6, 2017) - Critical Elements Corporation (the \"Company\" or \"Critical Elements\") (TSX VENTURE:CRE) (OTCQX:CRECF) (FRANKFURT:F12) is pleased to announce results of a Feasibility Study on the Rose Lithium-Tantalum project (\"Rose\" or the \"Project\") in James Bay, Québec. Unless otherwise stated, all figures are quoted in Canadian dollars (\"$\") and are reported on a 100% equity project basis. Highlights Average annual production of 186,327 tonnes of chemical grade lithium concentrate Average annual production of 50,205 tonnes of technical grade lithium concentrate Average annual production of 429 tonnes of tantalum concentrate Expected life of mine of 17 years Average operating costs of $66.56 per tonne milled, $458 (US$344) per tonne of concentrate (all concentrate production combined) Estimated initial capital cost $341.2 million before working capital 100% equity basis for project Average gross margin 63.6% After-tax NPV of $726 million (at 8% discount rate), after-tax IRR of 34.9% and price assumption of US$1,500 per tonne technical grade lithium concentrate, US$750 per tonne chemical grade lithium concentrate, US$130 per kg tantalum pentoxide Anticipated construction time to start of production of 21 months \"The feasibility study is a major milestone for Critical Elements, which explains our superior competitive situation. The excellent gross margin is a key indicator for the quality of this project,\" said Dr. Steffen Haber, President of Critical Elements Corporation. \"I'm very pleased with the delivery and the results of the most important milestone of Critical Elements to date,\" said Jean-Sébastien Lavallée, CEO and Chairman of the Board. \"I would like to thank the joint effort of our team to deliver a very strong feasibility study that shows a very solid project.\" The Rose Lithium-Tantalum Project is 100% owned by Critical Elements. The company's market strategy is to enter the lithium market with a low-risk approach. The completion of the feasibility on the spodumene plant is the first step to enter the market and establish the company as a reliable high quality lithium supplier. The low-risk approach is characterised by simple open-pit mining and conventional lithium processing technologies. The feasibility is based on a conventional truck and shovel open pit operat...