Highlights
- Progress on Finniss lithium project Restart Study remains on track for completion by June 2025.
- $50M cash balance as of 31 December 2024, after final FY24 shipment payments.
- Exceptional lithium and gold exploration results, including 63m @ 1.67% Li₂O at Blackbeard and 6m @ 5.12g/t Au at Shoobridge.
- Appointment of Alicia Sherwood as Non-Executive Director to strengthen governance and stakeholder engagement.
CEO Commentary
Core CEO Paul Brown highlighted the quarter’s achievements:
- Ongoing advancements in Restart Study to enhance cost efficiency and operational resilience at Finniss.
- Active preparation for wet season water management and infrastructure readiness.
- Encouraging exploration outcomes at Blackbeard and Shoobridge, confirming potential for long-term growth.
Brown expressed optimism for 2025, emphasizing a disciplined approach to expenditures and alignment with market conditions.
Restart Study Progress
- Mining Optimisation: Improvements in design, cost control, and resource recovery at BP33 and Grants open pit.
- Processing Enhancements: Refining metallurgical processes to improve efficiency and reduce costs.
The study remains on track for a mid-2025 completion, targeting a leaner and more efficient operation at Finniss.
Exploration Success
- Blackbeard Lithium:
- Key results: 63m @ 1.67% Li₂O and 20m @ 2.09% Li₂O.
- Located 20km from the Grants processing facility, offering potential expedited development within a granted mining lease.
- Shoobridge Gold:
- Significant intercepts: 6m @ 5.12g/t Au within 12m @ 2.93g/t Au.
- Follow-up drilling completed, with results due in March 2025.
Shoobridge demonstrates high-grade zones within a broader mineralized envelope, signaling growth opportunities.
Sustainability Initiatives
- No lost-time injuries or significant environmental incidents.
- Proactive measures for wet season water management and weed control.
- Enhanced safety and environmental monitoring ensure responsible operations.
Financial Overview
- Cash balance: $49.7M as of December 2024, with planned expenditures supporting strategic priorities.
- Stockpiles: 5,000 wmt of spodumene concentrate and 75,000 wmt of lithium fines available for sale if market conditions improve.
