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Frontier Lithium Files NI 43-101 Pre-Feasibility Study For Pak Project in Northern Ontario
SUDBURY, ON, July 14, 2023 /CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) ("Frontier" or "the Company"), Ontario's leading lithium developer
About this update from Frontier Lithium Inc.
[{"type":"text","content":" SUDBURY, ON, July 14, 2023 /CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX: LITOF) (\"Frontier\" or \"the Company\"), Ontario's leading lithium developer, has filed the \"Pre-Feasibility Study for the PAK Project \" technical report (the \"Technical Report\"). As communicated in a news release dated May 31, 2023, this Technical Report outlines the preliminary feasibility assessment of the 100% owned PAK Project, located north of Red Lake in Ontario, and a proposed hydrometallurgical plant that would convert spodumene concentrate feedstock into lithium chemicals. The Technical Report confirms the vertically integrated project could be North America's largest and lowest-cost producer of lithium hydroxide, supplying the rapidly growing electric vehicle industry on the continent. The Technical Report is effective as of the 31st day of May 2023, the summary press release is located at https://us13.campaign-archive.com/?u=4007c765f4181d2d87e755530&id=cf13300efd. The full Technical Report is available on SEDAR (www.sedar.com) and can be located at https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00008434. Pre-Feasibility Study Highlights: A 24-year total project life, with after-tax pay back of capital expenditures in less than 5 years following commercial production Life of Project Cash Flow (unlevered) of US$8.07 billion over 24-year total project life; Total initial capital expenditure estimate of US$468 million for the technical grade concentrator and expansion capital of US$576 million for the chemical grade concentrator and chemical plant with a contingency of 20% included. Sustaining Capital of US$90 million ; Post-tax Net Present Value at an 8% base case discount rate (\"NPV 8 \") of US$1,739 million and IRR of 24.1% [see Tables and Figures below]; Post-tax net \"undiscounted\" Cash Flow (before initial capital expenditures) of US$5.98 billion ; Annual Average EBITDA of US$251.3 million ; Chemical plant producing 12,520 tonnes of battery-quality Lithium Hydroxide Monohydrate (LiOH-H 2 O) per year with an average selling price of US$22,000 per tonne and a 7,360 tonnes of battery-quality Lithium Carbonate per year with an average selling price of US$20,500 per tonne; PAK and...