EXPLORATION & DEVELOPMENT

Avenira to progress to feasibility after scoping of battery powder encourages

Phosphate company has triple ambitions

Avenira to progress to feasibility after scoping of battery powder encourages

The latter NPV estimate uses recent reported spot prices of US$80,000/t for lithium hydroxide and lithium carbonate, while the base case uses $18,533/t and $17,305/t respectively.

An exchange rate of 65c per Australian dollar was in the scoping work.

The development's internal rate of return is 22% in the base case scenario and 44% using the higher pricing.

Avenira is looking to initially develop a 10,000t per annum operation, and then use the cashflow to add two further production trains that will take output to 30,000tpa. The latter production rate has a pre-production capital cost of A$527 million.

Avenira owns the Wonarah direct-ship-ore phosphate asset in NT that is currently the subject of a near-completed feasibility study.

With an enterprise value of less than $16 million, Avenira's ambitions are to develop Wonarah, the LFP venture, and a thermal phosphoric acid plant that's capable of supplying feedstock to the LFP plant and for sales into other specialty chemical markets.

Shares in the Brett Clark-led Avenira were unchanged at 1.4c in morning trade, capitalising the company at $17.4 million.

Avenira had $1.4 million cash at the end of December.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

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