Core Lithium (CXO) Diggers & Dealers Mining Forum 2025 summary

Strategic asset and operational changes

• Shifted from an all-contractor model to owning key infrastructure, including the crushing plant, to control costs and operations.

• Increased plant capacity by 20%, targeting 205,000 tons of SC6 equivalent annually upon restart.

• Transitioned to all-underground mining, extending mine life and reducing costs to AUD 690–785 per unit.

• Maintains a restart-ready site with all major approvals and infrastructure in place.

• Remains debt-free and well-funded, with Morgan Stanley appointed to assist with funding for the final investment decision.

Technical improvements and cost management

• Implemented a robust, simplified flow sheet, eliminating the need for a flotation circuit.

• Added a gravity circuit to capture an additional 10% of fines, blending products to achieve a 5.2% grade.

• Focused on mining hygiene and process optimization, leveraging operational data to improve recoveries and reduce dilution.

• Cost base validated by independent engineering and mining groups, built from first principles and market tested.

• Brownfield plant upgrades and low sustaining CapEx support enhanced recoveries and operational flexibility.

Growth potential and market positioning

• Holds 500 sq km of tenements in the Bynoe pegmatite field, with key assets including Grants, BP33, and Carlton.

• Exploration identified new targets, such as Coal Blackbeard, supporting future expansion.

• Crushing plant capacity allows for potential production increases to over 2 million tons if market conditions warrant.

• Operates in a Tier 1 jurisdiction with strong government support and proximity to key export markets.

• Logistics chain is efficient, with direct access to port infrastructure and all-weather roads.