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Tuesday, December 20, 2022 10:53:25 PM
CUSTOMER PRICE REVIEWS ACHIEVE IMPROVED PRICING OUTCOMES; P680
EXPANSION PROJECT SCHEDULE ON TRACK WITH REVISED CAPITAL COST
ESTIMATE.
KEY POINTS
• Price reviews completed with major offtake customers, resulting in improved
pricing outcomes, equating to an average SC6.0 equivalent price of approximately
US$6,300/DMT (CIF China) when applying current pricing reference data.
• P680 Expansion Project delivery schedule remains on target with the total capital
cost estimate revised to ~A$404M. The estimated capital cost to deliver an additional
100ktpa of spodumene concentrate by way of a new primary rejection heavy media
separation circuit (Primary Rejection) has been revised to A$150M, whilst the new
integrated crushing and ore sorting (Crushing and Ore Sorting) facility which will
support future expansions is now expected to cost A$254M.
• The Primary Rejection facility remains on track for commissioning in the September
2023 Quarter, with the Company focused on delivering this additional 100ktpa of
production capacity as rapidly as possible to take advantage of favourable market
conditions. The Crushing and Ore Sorting facility also remains on track for
commissioning in the December 2023 Quarter and will support future expansions
at the Pilgan Plant which will ultimately deliver 1Mtpa of spodumene concentrate
from the combined Pilgangoora operations.
• Pre-FID funding of $38M for the P1000 Expansion Project approved by the Board to
procure long-lead items and progress engineering to maintain the overall project
schedule, with the Final Investment Decision for the P1000 Project now scheduled
for the March 2023 Quarter.
https://1pls.irmau.com/site/pdf/b5996f4a-2780-4513-8711-eeb3dbdba59f/Offtake-Pricing-Project-Expansion-Update.pdf
If THEIR IS ONE THING I AM SURE ABOUT IS I AM USUALLY WRONG
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