RE:Lithium Ionic Corp. halted. Follow up from Lithium Iconic.trading Halt:
Trading @ $1.80 currently. News:
08:49 AM EDT, 10/19/2023 (MT Newswires) -- Lithium Ionic Corp. (LTH.V) reported Thursday the results of a preliminary economic assessment for the Bandeira project in Brazil.
The study generated a posttax net present value of US$1.6 billion based on an 8% discount rate, with a 121% internal rate of return and a 14-month payback period.
Total capital expenditure was estimated at $233 million with production projected at 217,700 tonnes per year of high-quality spodumene concentrate grading 5.5% lithium oxide equivalent over the 20-year mine life.
The study also included an updated resource estimate. Measured and indicated resources stood at 13.72 million tonnes at 1.40% lithium oxide for 474,892 tonnes of lithium carbonate equivalent.
Inferred resources stood at 15.79 million tonnes grading 1.34% lithium oxide for 523,118 tonnes of lithium carbonate equivalent.
"The robust results of our PEA marks a major de-risking milestone towards our goal of becoming a near-term supplier of high-quality spodumene concentrate to the global lithium and electric vehicle supply chains," CEO Blake Hylands said.
The company plans to complete a definitive feasibility study and an environmental impact assessment expected by the end of 2023.
Trading @ $1.80 currently.