Brief: Firefinch Sees Annualised Spodumene Concentrate Output From Goulamina To Peak At 880,000 Tonnes

Firefinch

05/12/2021 21:36

Dec 6 (Reuters) - Firefinch Ltd  FFX.AX :
    * GOULAMINA LITHIUM PROJECT UPDATE TO DFS
    * DFS UPDATE DEMONSTRATES "EXCEPTIONAL FINANCIAL RETURNS",
HIGHER
PRODUCTION RATE THAN OUTLINED IN OCT 2020 DFS
    * SEES ANNUALISED SPODUMENE CONCENTRATE PRODUCTION OF
506,000
TONNES INCREASING TO PEAK OF 880,000 TONNES FROM GOULAMINA
    * EXPECT TO TAKE LEO TO MARKET IN MARCH-APRIL NEXT YEAR
    * FIREFINCH AND GANFENG WILL CONFIRM GOULAMINA FID UPON
FORMATION
OF JV
    * 2.3 MILLION TONNES PER ANNUM OPERATION (STAGE 1) CAPITAL
COST IS
US$255 MILLION
    * GANFENG WILL CONTRIBUTE US$130 MILLION IN CASH AND ARRANGE
UP TO
US$64 MILLION OF DEBT
    * GANFENG ADVISED IT IS IN DISCUSSION WITH CHINESE BANKS TO
CONSIDER PROVIDING DEBT FUNDING

Source text for Eikon:  ID:nASXxLXRn 
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 ((Reuters.Briefs@thomsonreuters.com;))