Lithium Royalty Corp. (LRC) is excited to announce the completion of a scoping study for Winsome Resources Limited s (Winsome) Adina Lithium Project in Québec, Canada. The study positions the Adina Project as a highly capital-efficient hard-rock lithium project in North America. LRC, which owns a 4.0% gross overriding revenue royalty (GOR) over the project, sees this as a significant milestone. Key highlights from the scoping study include: 1. Low Start-Up Capital Cost: The Adina Project has an estimated start-up capital cost of US$260 million, mainly due to Winsome s ability to leverage existing infrastructure at the nearby Renard mine. This option to repurpose the Renard facility offers significant cost savings and positions the project as one of the most attractive lithium projects in North America. 2. Opportunity for Growth: The study contemplates mining 31.2Mt of indicated mineral resource from a total of 61.4Mt and 4.6Mt of inferred mineral resource from a total of 16.5Mt. Winsome anticipates upgrading its mineral resource estimate in the first half of 2025, potentially increasing the project s lifespan and production throughput. 3. Competitive Operating Costs: The scoping study estimates a C1 operating cost of US$598 per tonne (FOB) and an All-In Sustaining Cost (AISC) of US$693 per tonne (FOB) over the 17-year active production period. The use of a simple dense media separation processing method is expected to further reduce operating costs and produce a high-quality, coarse concentrate. 4. Job Creation: The Adina Project is expected to create approximately 600 jobs during its operational phase, contributing to economic development and employment in the Eeyou Istchee James Bay region and the Province of Québec. 5. Meaningful Implications for LRC: The scoping study underscores the benefits of LRC s strategy of targeting assets that are high-grade,
Source: nationaltribune.com.auPublished on 2024-09-18
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