Core Lithium to Cut Production Costs as Northern Territory Mine Gears Up for First Ore Delivery

MT Newswires Live01-22

Core Lithium's (ASX:CXO) Northern Territory-based Grants mine is expected to deliver its first ore within one month of operations, reducing pre-production capital by AU$35 million to $45 million, according to a Thursday filing with the Australian bourse.

The Finniss lithium project's estimated total ore reserves have been boosted to 15.6 million tons, with an average lithium oxide grade of 1.27% due to the updated mine plan.

The miner said technical studies are ongoing to underpin a positive final investment decision for the Finniss project, while the strategic funding process is advancing with potential partners.

The company reported a cash balance of AU$48.7 million as of Dec. 31.

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