The PLS PFS (10/3) document references 330kt of annual spodumene production
(Page 17 - Financial Evaluation)
Mine will cost $184m
(page 15)
The 2Mt plant reference in the PFS is the total throughput - including waste rock - not the eventual spodumene produced. Spodumene is the product that is sold.
It is apparently being built by the same firm that built Mt Cattlin - so you can expect the same ramp-up and commissioning periods. The same time periods to achieve name plate capacity. Its actually more reasonable to expect longer - as PLS have not had any experience with running this type of plant before. Mt Cattlin was run by the same guy who ran it before - Michael Fotios.
PLS forum produces very strange valuations and figures.
The actual production rate of spodumene is confused with waste (as you seem to have done here)
and carbonate and concentrate get used interchangeably to fit sky-high valuations.
What they have credit-raised so far will not cover the full cost of even the size of Mt Cattlin.
They have to raise at least another $84m according to the PFS.
They have a very large deposit but its not producing millions of tons of spodumene each year and even the PFS may be being optimistic about the spodumene throughput given the mine is the same approx scale as Mt Cattlin.
GMM Price at posting:
53.5¢ Sentiment: Buy Disclosure: Held
