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Plymouth's scoping study on San Jose lithium-tin project pegs value at US$401M

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Plymouth's scoping study on San Jose lithium-tin project pegs value at US$401M

Plymouth Minerals Ltd. said Oct. 18 that a scoping study on the San Jose lithium-tin project in Spain's Extremadura region estimated a pretax net present value, discounted at 8%, of US$401 million, an internal rate of return of 28% and a payback period of 2.7 years.

The study is based on an indicated resource of 23.9 million tonnes of lithium carbonate and an inferred resource of 68.3 million tonnes of lithium carbonate at a long-term price of US$10,000 per tonne.

Initial CapEx, including 10% contingency, is pegged at US$273 million.

Average annual production over an initial 24.1-year mine life is 12,133 tonnes of lithium carbonate at an average life-of-mine C1 cost of US$5,004 per tonne, with average annual production of 14,164 tonnes at US$4,763 per tonne in the first 10 years. Potential annual production is estimated at 15,000 tonnes.

The open pit mine is expected to begin production in late 2018, with commercial production to be achieved in 2020.

Plymouth completed the first stage of a 2016 agreement to earn up to a 75% interest in the historical San Jose lithium-tin project in Spain from Saycr Vallehormoso SA unit Valoriza Mineria SLU earlier this month.