GREEN TECHNOLOGY METALS PRELIMINARY ECONOMIC ASSESSMENT DELIVERS STRONG ECONOMICS & MINING LEASE GRANTED FOR SEYMOUR

PERTH, Australia, Dec. 7, 2023 /CNW/ -- Green Technology Metals Limited (ASX: GT1) (GT1 or the Company), a Canadian-focused multi-asset lithium business, is pleased to announce the completion of its Preliminary Economic Assessment that features vertically integrated mines, concentrators and a Lithium Hydroxide Conversion facility.

HIGHLIGHTS

• Mining Lease granted over proposed Seymour mine construction area for a term of 21 years
• Combined mine and concentrator development delivers NPV $1,189M CAD (USD$894M)
• Excellent economics confirmed in the PEA for both project development options with the potential to become the first lithium concentrates and chemical producer in Ontario 
• PEA considers two development options:

-Mine and concentrator development (Seymour and Root) producing saleable SC5.5 concentrates, and
-Integrated project with construction of a converter to produce battery grade Lithium hydroxide from Seymour, Root and other spodumene concentrates

• Combined Seymour & Root Mine and Spodumene Concentrators

-Combined open pit mining strategies culminating in 15 years of mine production, with phased capex for two mines and concentrators.
-LOM average concentrate production of 207ktpa at 5.5% Li₂0
-Initial start-up capex of CAD $216M (USD $162M)
-Second phase capex of CAD $467M (USD $351)
-Overall contingency included CAD $77M (USD $58M)
-After-tax NPV of CAD $1,189M (USD $894M), IRR of 54%, total LOM revenue of CAD $7,958M (USD $5,984M)
-Initial Capex to NPV ratio 5.5:1
-25% offtake committed from Seymour to LGES for first 5 years of production

• Integrated Lithium Project – Mine, Concentrators & Chemical Conversion Facility

-Mine concentrator development feeding SC5.5% to conversion facility located in Thunder Bay, Ontario
-Average Lithium Hydroxide Monohydrate production of 24,400tpa
-Start-up capex of CAD $1,064M (USD $800M)
-Contingency included CAD $210M (USD $158M)
-After-tax NPV of CAD $1,506M (US $1,132M), IRR of 27%, total LOM revenue of CAD $14,230M (US $10,699M)

"We are pleased to deliver our PEA which initially includes the Mines and Concentrators in North- Western Ontario, confirming a strong NPV and robust project delivery strategy with low capital hurdles to get GT1 first into production within the province of Ontario.

The second part of the PEA includes the conversion of Lithium concentrates to Lithium chemicals which are currently unavailable in North America and will play a critical role in closing the supply chain from mine to electric vehicle, all Ontario Made".

The success of GT1's Strategy includes collaboration between Indigenous Partners, Communities, Government, Industry, and all Stakeholders. Working together, the actions in this strategy will build a stronger, more resilient business and promote local communities". – CEO Luke Cox

To view the full announcement: https://wcsecure.weblink.com.au/pdf/GT1/02751177.pdf

Media Enquiries

Media

Jacinta Martino
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SOURCE Green Technology Metals