Core Lithium secures funding and gives green light to restart Finniss project

Core Lithium Ltd ( (AU:CXO) ) has issued an update.

Core Lithium has approved a final investment decision to restart operations at its Finniss Lithium Project in the Northern Territory, backed by a fully committed funding package. The plan follows extensive technical work and a restart study that aims to reposition Finniss as a lower-cost, long-life brownfield operation with a shorter path to nameplate production of 214,000 tonnes per annum.

The restart is underpinned by an aggregate US$120 million in strategic funding from Glencore, InfraVia and Nebari, plus an intended A$120 million equity raise and existing cash, fully covering construction and ramp-up. The project is forecast to deliver a pre-tax NPV of A$1.1 billion and A$1.7 billion in free cash flow based on conservative price assumptions, while new marketing arrangements with Glencore and advanced mining and services contracts provide execution certainty and enhanced access to global sales channels.

The most recent analyst rating on (AU:CXO) stock is a Hold with a A$0.23 price target. To see the full list of analyst forecasts on Core Lithium Ltd stock, see the AU:CXO Stock Forecast page.

More about Core Lithium Ltd

Core Lithium Ltd is an Australian lithium producer focused on the Finniss Lithium Project in the Northern Territory. The company operates in the battery minerals sector, targeting spodumene concentrate production for global lithium-ion supply chains and leveraging partnerships with major commodity and infrastructure investors to support long-life, low-cost operations.

Average Trading Volume: 22,954,411

Technical Sentiment Signal: Hold

Current Market Cap: A$572.4M

For detailed information about CXO stock, go to TipRanks’ Stock Analysis page.