• Process plant design feed rate increased to the permitted average annual 4,500 tonnes per day (tpd) in Stage 1 and 6,500 tpd in Stage 2; average Life of Mine (LOM) recovery of 71.2%; spodumene concentrate at grade of 5.4% Li2O.
  • The updated Scoping Study improves the incremental post-tax NPV(8%) of the expansion project from C$479M (US$355M)2 in the previous study1 to C$969M (US$718M)2 or a 102% increase. Approximately 51% of the increase in post-tax NPV is attributable to staging/throughput and other assumption changes while 49% is attributable to the increase in Li2O price from the previous study.
  • The expansion project provides a total NAL project post-tax NPV(8%) of C$3,112M (US$2,305M)2, with a post-tax IRR of 41.8% and payback of 25 months.
  • The expanded production rate is increased to 338 thousand tonnes per annum (ktpa) (nominal SC5.4, post ramp up), up from 315 ktpa in the prior scoping study1.
  • Average LOM C1 unit cost of C$847/t (US$628/t)2 and AISC of C$922/t (US$683/t)2 once the expansion is fully operational similar to the prior study1.
  • Stage 1 CAPEX of C$96M (US$71M)2; Stage 2 CAPEX of C$81M (US$60M)2; Stage 3 CAPEX of C$188M (US$139M)2. Total CAPEX of C$366M, (US$270M)2.
  • Stage 1 incremental production ramp up will commence in mid-CY27 and Stage 3 construction is forecast to be completed by mid-CY29.
  • The Company's existing NAL Ore Reserves solely underpin the NAL Expansion production profile with a revised life of mine of 21 years.