Wildcat Resources (WC8.AX) has announced its pre-feasibility study has reached a completion level of 50% and is still on track for publication later this year. The stage 2 metallurgical test work is almost complete and the updated met work in combination with the recent resource update will form the backbone of the pre-feasibility study. Right now, the company is also working through potential development scenarios as Wildcat is considering a 2.2Mtpa and a 4.5Mtpa development option. Additionally, Wildcat is completing trade-off studies between building the entire plant right away and a gradual, modular development.
As a reminder, the vast majority (95%) of the current 74.1Mt resource is hosted in the indicated resource category. At a throughput of 4.5 million tonnes per year, we can anticipate a mine life of approximately 13-15 years based on the current resource (this of course depends on the conversion factor to go from resources to reserves). The average grade of the indicated resource is 1.01% Li2O.
The company has north of A$60M in cash and remains well-funded to complete the pre-feasibility study while its definitive feasibility study is being accelerated as well to avoid any delays.
Disclosure: The author has no position in Wildcat Resources. Please read the disclaimer.
