Brief: Firefinch Says FID For Goulamina Lithium Project Approved

Firefinch

03/01/2022 21:27

Jan 4 (Reuters) - Firefinch Ltd  FFX.AX :
    * FID FOR GOULAMINA LITHIUM PROJECT HAS BEEN APPROVED
    * EARLY-STAGE ENGINEERING WORKS, STERILISATION DRILLING AND
SITE-BASED ACTIVITIES ARE UNDERWAY
    * CO AND JIANGXI GANFENG LITHIUM HAVE AGREED TO WAIVE FID
CONDITION TO PAYMENT OF FINAL US$91 MILLION UPON FORMATION OF
INCORPORATED JV
    * FOR FUNDING PROJECT, GANFENG AGREED TO ARRANGE UP TO
US$120
MILLION IN THIRD PARTY DEBT OR PROVIDE GANGENG-PROVIDED DEBT
    * FOLLOWING DEFINITIVE FEASIBILITY STUDY UPDATE, CAPITAL
COST FOR
2.3 MILLION TONNES/ANNUM OPERATION (STAGE 1) UP FROM US$194
MILLION TO US$255 MILLION

Source text for Eikon:  ID:nASXptqlB 
Further company coverage:  FFX.AX 

 ((Reuters.Briefs@thomsonreuters.com;))