Apologies if someone has already posted this from yesterday but I couldn't see it.
The article (link below) includes the following:
“We’re within two months of finishing our pre-feasibility study now,” he says. “And at that point we’ll be able to show hard numbers. The key things will be the net present value, the capital expenditure and the operating costs.”
And it’s here, in the realm of costs, that Coughlan reckons European Metals has a real advantage.
Because while Cinovec is relatively low grade, the costs of getting lithium carbonate out of the ground will be very low indeed.
That’s because the type of ore that hosts the lithium at Cinovec is mica, while most other hard rock lithium deposits are hosted in spodumene, and it takes more heat and more reagent to extract value from spodumene than it does from mica.
“We don’t have to heat it to anywhere near the same temperature,” says Coughlan. “That means our operating cost is going to be very much in the bottom end of the global cost curve.”
And:
Money will be needed, of course, to build the mine, but here too Coughlan is pretty confident.
“The numbers are compelling so I don’t see any problems getting that money raised,” he says. “Once we’ve done the pre-feasibility study we’ll roll straight into the bankable study and then raise the money to build it. The capex will be pretty inoffensive.”
It is very good to see KC making these statements, which must be fairly accurate so close to the release of the PFS. I think this gives real meat on the bones to the proposition that this resource will achieve a production cost at the low end of the market.
http://www.*.co.uk/companies/news/173539
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