| Area | Phase 1, $ M | Phase 2, $ M | Phase 3, $ M | LoM, $ M |
| Mining Capital | 10.3 | 10.3 | 20.6 | 41.1 |
| Process Plant, Direct Costs | 399.9 | 359.9 | 720.5 | 1 480.0 |
| Plant/Mine, Infrastructure | 36.3 | 32.7 | 65.5 | 134.0 |
| Bulk Infrastructure | 35.1 | 17.6 | 35.2 | 88.0 |
| Tailings | 29.2 | - | 127.4 | 157 |
| Total Direct Costs | 510.8 | 420.5 | 969.1 | 1 900.0 |
| Indirect Costs | 109.7 | 98.7 | 197.4 | 406.0 |
| Contingency | 60.1 | 54.1 | 108.2 | 222.0 |
| Closure | - | - | - | 36 |
| Total Project Capital Cost | 680.6 | 573.3 | 1 274.7 | 2 565.5 |
| Description | Units | Base Case | Alternate Case |
| Financial Outcomes (PRE-TAX) | |||
| NPV (8%) | $ M | 8 410 | 9 251 |
| IRR | % | 40.7 | 38.5 |
| Payback Period (undiscounted) | years | 2.5 | 2.5 |
| Financial Outcomes (POST-TAX) | |||
| NPV (8%) | $ M | 5 109 | 5 585 |
| IRR | % | 32.0 | 29.9 |
| Payback Period (undiscounted) | years | 3.0 | 3.0 |
| Table 2-3 Mineral resource Estimate effective October 31 2023 | |||||||||
| Cutoff | Volume | Tonnes | Li | Metric Tonnes (Mt) | Cs | K | Rb | ||
| Li (ppm) | (Mm3) | (Mt) | (ppm) | Li | Li2CO3 | LiOH.H20 | (ppm) | (%) | (ppm) |
| Measured | |||||||||
| 600 | 29 | 69 | 2,792 | 0.19 | 1.01 | 1.15 | 631 | 2.74 | 1,171 |
| 800 | 28 | 68 | 2,832 | 0.19 | 1.01 | 1.15 | 641 | 2.72 | 1,194 |
| 1,000 | 27 | 65 | 2,915 | 0.19 | 1.01 | 1.15 | 647 | 2.71 | 1,208 |
| 1,200 | 25 | 61 | 3,024 | 0.18 | 0.96 | 1.09 | 616 | 2.74 | 1,228 |
| 1,400 | 24 | 57 | 3,142 | 0.18 | 0.96 | 1.09 | 547 | 2.78 | 1,250 |
| Indicated | |||||||||
| 600 | 156 | 378 | 2,251 | 0.85 | 4.52 | 5.14 | 1,039 | 2.92 | 1,055 |
| 800 | 148 | 357 | 2,342 | 0.84 | 4.47 | 5.08 | 1,058 | 2.90 | 1,070 |
| 1,000 | 136 | 327 | 2,472 | 0.81 | 4.31 | 4.90 | 1,095 | 2.87 | 1,104 |
| 1,200 | 129 | 310 | 2,549 | 0.79 | 4.20 | 4.78 | 1,086 | 2.86 | 1,146 |
| 1,400 | 120 | 288 | 2,646 | 0.76 | 4.04 | 4.60 | 1,041 | 2.88 | 1,166 |
| Measured plus Indicated | |||||||||
| 600 | 185 | 447 | 2,327 | 1.04 | 5.53 | 6.29 | 976 | 2.90 | 1,072 |
| 800 | 176 | 425 | 2,424 | 1.03 | 5.48 | 6.23 | 991 | 2.87 | 1,090 |
| 1,000 | 163 | 392 | 2,551 | 1.00 | 5.32 | 6.05 | 1,021 | 2.84 | 1,121 |
| 1,200 | 154 | 371 | 2,615 | 0.97 | 5.16 | 5.87 | 1,009 | 2.84 | 1,160 |
| 1,400 | 144 | 345 | 2,725 | 0.94 | 5.00 | 5.69 | 960 | 2.86 | 1,180 |
| Inferred | |||||||||
| 600 | 198 | 506 | 1,481 | 0.75 | 3.99 | 4.54 | 778 | 3.31 | 736 |
| 800 | 174 | 443 | 1,597 | 0.71 | 3.78 | 4.30 | 837 | 3.24 | 762 |
| 1,000 | 138 | 348 | 1,785 | 0.62 | 3.30 | 3.75 | 886 | 3.18 | 796 |
| 1,200 | 110 | 276 | 1,961 | 0.54 | 2.87 | 3.27 | 942 | 3.10 | 850 |
| 1,400 | 82 | 201 | 2,211 | 0.44 | 2.34 | 2.66 | 1,022 | 3.01 | 926 |
| Table 2-5 Mining Production Ramp Phases | |||||||
| Production Ramp Up | Y 1 | Y 2 | Y 3 to 7 | Y 8 | Y 9 to 12 | Y 13 | Y 14 to 32 |
| Plant Feed M t/y | 0.75 | 1.00 | 1.50 | 2.25 | 3.00 | 4.50 | 6.00 |
| Item | Date | Company | Experiment | Key findings |
| Phase 3: Ion exchange screening tests | ||||
| 9 | Sep 2010 | CWENGA | Ion exchange | IX: Resin: Strong base; Stages: 2; Exhaustion: incomplete; Elution: Eluant: 4M sulfuric acid; Test status: incomplete-insufficient sample; Precipitation: Reagent: Lime and H2O2 |
| Phase 4: Leach extraction mapping tests | ||||
| 10 | Oct 2010 | TECMMINE | Leach-bottle roll | Group 1: Grade: 10 to 6817 ppm (avg: 271 ppm); Extraction: 21% to 99% (avg: 63%); Acid consumption: 10 to 32 kg/t (avg: 22 kg/t); Group 2: Grade: 9 to 2971 ppm (avg: 126 ppm); Extraction: 25% to 92% (avg: 64%); Acid consumption: 11 kg/t to 23 kg/t (avg: 16 kg/t); Corachapi: Grade: 45 ppm to 6 933 ppm (avg: 618 ppm); Extraction: 31% to 95% (avg: 73%); Acid consumption: 13 kg/t to 44 kg/t (avg: 24 kg/t); |
| 11 | 2010 | TECMMINE | Leach-bottle roll | Grade: 26 ppm to 19 955 ppm (avg: 943 ppm); Recovery: 54% to 98% (avg: 86%) |
| Phase 5: Large column leach tests | ||||
| 12 | Jan 2011 | TECMMINE | Leach-column | Head grade: 295 ppm; Acid consumption: 10 kg/t; Height: 2.6m; Diameter 16.5'; Irrigation: 8 L/h/m2; Acid soln: 15 g/L; Time: 50 days; Extraction: 97%; Tail: 8 ppm; PLS tenor: 93 ppm; U dist: 60% in >6.35 mm. |
| 13 | Jan 2011 | TECMMINE | Leach-column | Head grade: 98 ppm; Acid consumption: 10 kg/t; Height: 2.5m; Diameter 16.5'; Irrigation: 8 L/h/m2; Acid soln: 15 g/L; Time: 50 days; Extraction: 93%; Tail: 7 ppm; PLS tenor: 30 ppm.; U dist: 69.5% in >6.35 mm. |
| 14 | Feb 2011 | CIMM | Water analysis | Total hardness: 6 mg/L - 16 mg/L |
| 15 | Mar 2011 | TECMMINE | Leach-column | Head grade: 383 ppm; Acid consumption: 10 kg/t; Height: 2.6 m; Diameter 16.5'; Irrigation: 8 L/h/m2; Acid soln: 15 g/L; Time: 45 days; Extraction: 92%; Tail: 30 ppm; PLS tenor: 143 ppm. |
| 16 | Mar 2011 | TECMMINE | Leach-column | Head grade: 22 ppm; Acid consumption: 25 kg/t; Height: 2.3 m; Diameter 7'; Irrigation: 8 L/h/m2; Acid soln: 15 g/L; Time: 32 days; Extraction: 72%; Tail: 6 ppm; PLS tenor: 9 ppm; U dist: 78.4% in >6.35 mm. |
| 17 | Mar 2011 | TECMMINE | Leach-column | Head grade: 22 ppm; Acid consumption: 24 kg/t; Height: 2.4 m; Diameter 7'; Irrigation: 8 L/h/m2; Acid soln: 15 g/L; Time: 29 days; Extraction: 57%; Tail: 8 ppm; PLS tenor: 6 ppm; U dist: 71.9% in >6.35 mm. |
| 18 | May 2011 | TECMMINE | Leach-column | Head grade: 38 ppm; Acid consumption: 13 kg/t; Height: 2.4 m; Diameter 7'; Irrigation: 8 L/h/m2; Acid soln: 15 g/L; Time: 46 days; Extraction: 85%; Tail: 6 ppm; PLS tenor: 32 ppm; U dist: 58.6% in >6.35 mm. |
| 19 | Jun 2011 | TECMMINE | Leach-column | Head grade: 27 ppm; Acid consumption: 16 kg/t; Height: 2.4 m; Diameter 7'; Irrigation: 8 L/h/m2; Acid soln: 15 g/L; Time: 46 days; Extraction: 80%; Tail: 5 ppm; PLS tenor: 22 ppm; U dist: 49.4% in >6.35 mm. |
