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Core Lithium Advances Finniss Restart Study, Ends Contracts to Cut Costs

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Core Lithium Advances Finniss Restart Study, Ends Contracts to Cut Costs

The latest announcement is out from Core Lithium Ltd ( (AU:CXO) ).

Core Lithium Ltd has announced progress on its Restart Study for the Finniss Lithium Operation, aiming to enhance productivity and lower operating costs. The company has ended all remaining operating contracts, gaining full ownership of site infrastructure, which is expected to reduce future costs and improve operational efficiency. The study, set for completion by June 2025, includes optimizing the mine plan for the BP33 lithium deposit and improving the DMS Plant’s recovery and capacity. The total cost of settling these contractual matters is $19.5 million, payable over four months, and will be covered by existing cash reserves.

More about Core Lithium Ltd

Core Lithium Ltd is an Australian hard-rock lithium company that owns the Finniss Lithium Operation located on the Cox Peninsula, southwest of the Darwin Port in Northern Territory. The company focuses on generating sustained shareholder value through critical minerals exploration and mining projects, adhering to strong environmental, safety, and social standards.

Average Trading Volume: 46,520

Technical Sentiment Signal: Buy

Current Market Cap: $102.5M

Learn more about CXO stock on TipRanks’ Stock Analysis page.

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