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Critical Elements Lithium Announces New Positive Feasibility Study for the Rose Lithium Project Generating an After-Tax NPV8% of US$2.2B and an After-Tax IRR of 65.7%
MONTRÉAL, QC / ACCESSWIRE / August 29, 2023 / Critical Elements Lithium Corporation (TSX-V:...
About this update from Critical Elements Lithium Corporation
[{"type":"text","content":"Critical Elements Lithium Announces New Positive Feasibility Study for the Rose Lithium Project Generating an After-Tax NPV8% of US$2.2B and an After-Tax IRR of 65.7%MONTRÉAL, QC / ACCESSWIRE / August 29, 2023 / Critical Elements Lithium Corporation (TSX-V:CRE)(OTCQX:CRECF)(FSE:F12) (\"Critical Elements\" or the \"Corporation\") is pleased to announce the results of a new Feasibility Study on the Rose Lithium-Tantalum project (\"Rose\" or the \"Project\") in Eeyou Istchee James Bay, Québec.The management of Critical Elements, with its new highly qualified technical team led by Yves Perron as Vice President of Engineering, Construction and Operations, brings a deep level of knowledge and expertise to the engineering process (particularly in mining operations, process, environment, design, estimation and project control). This new study replaces the Feasibility Study announced by the Corporation on June 13, 2022. Noteworthy changes include: (i) the increased indexation of industrial construction prices, (ii) the addition of certain process equipment to increase operational reliability and (iii) the addition of the scope change of the Project by incorporating the construction of our own 500-worker camp 4 km from the mine site. The new camp has been added to reduce the execution risk and timeline as this is vital to having the workers' accommodation ready in time as we increase the speed of the construction phase. The new 500-room camp includes both temporary and permanent sections (approximately 250 rooms for each section).Jean-Sébastien Lavallée, Chief Executive Officer of the Corporation, said: \"We are very pleased to announce the results of the new Definitive Feasibility Study at Rose to provide the updated economics of the Project. The study reaffirms the substantial value of Rose - amongst the backdrop of higher input costs and the decision to build our own 500-worker camp - to establish Critical Elements as a reliable, high-quality supplier of lithium. Thank you to our engineers, management team and local stakeholders for their diligent efforts and our shareholders for their continuous support.\"HighlightsExpected 17-year mine lifeAverage production Year 2-17: 157,706 tonnes of chemical grade 5.56% spodumene concentrateAverage production Year 2-17: 46,059 tonnes of technical grade 6.16% spodumene concentr...