Develop Global release updated Pioneer Dome Scoping Study

Hybrid

Develop Global this month released an updated scoping study for the Pioneer Dome project in Western Australia. The study incorporates an updated mine plan which transitions the project from a large-scale open pit operation to a hybrid open pit and underground operation.

Capital expenditure was estimated at A$388.1M ($260M) for a 1.2 Mtpa DMS and flotation plant producing 200 ktpa SC5.5 for 7 years.

Operating costs came in at A$1,178/t ($789/t) SC6 on an AISC basis, FOB Esperance. Using a flat price of $1,393/t SC6 CIF China, the NPV8% was estimated at A$373M ($250M) pre-tax.

The study also assessed mine gate sale or toll treatment scenarios costing just A$35-40M. The company stated this option could work at today’s prices but would consider building the concentrator if prices rose above $1,500/t SC6.

아다마스의 견해:

Although the new study eliminates substantial waste handling (from 117.4Mt to 8.5Mt), the hybrid mine plan has resulted in a 43% hike in costs since the February 2023 PEA.

Only a fraction of this delta can be attributed to inflation, so a win for the environment via minimized surface disturbance has resulted in a loss for the project’s economics.

As stated by the company, to build the full plant would require an incentive price of at least $1,500/t SC6. Not shown in the study are Develop’s acquisition costs of the project in 2023, which at the time was A$152.6M ($101.60M) in scrip.

At today’s Li prices, there remains little value for the project when incorporating acquisition costs and taxation.

[5월호 발췌 EV 배터리 리튬 월간지 서비스 5월호 발췌.]

Image: Port of Esperance 

아다마스 인텔리전스의 애널리스트 크리스 윌리엄스

크리스는 아다마스 인텔리전스(Adamas Intelligence)의 애널리스트로, 글로벌 리튬 산업을 전문으로 담당하고 있습니다. 그는 리튬 가치 사슬을 연구하고 분석하여 고객사를 위한 실질적인 투자 기회를 발굴합니다.

크리스는 광업 및 석유·가스 운영 최적화 분야에서 11년의 경력을 쌓아왔으며, 데이터 기반의 심층적인 통찰력을 통해 실질적인 가치를 창출해 왔습니다. 그는 퀸즐랜드 대학교에서 기계공학을 전공하며 공학 학사 및 석사 학위를 취득했으며, 현재 브리티시컬럼비아 대학교에서 경영학 석사 과정을 수료 중입니다.