RE: RNS8 Oct 2021 08:03
Adam Davidson, Chief Executive Officer of Trident commented:
"This latest update from Lithium Americas more than doubles to the lithium Resource estimate for Thacker Pass which has a very positive read through for Trident's potential future earnings from this project, which is the largest lithium reserve in the United States. The ongoing Feasibility Study is now considering an optimised mine plan targeting an initial Phase 1 of 40,000tpa lithium carbonate with a potential Phase 2 expansion to target total capacity of 80,000tpa lithium carbonate - a significant increase over the Pre-Feasibility targets of 30,000tpa and 60,000tpa for Phases 1 and 2 respectively. This comes at a time when LCE prices have more than doubled over the course of 2021. In addition, Lithium Americas reports the permitting process to be on track, with a final decision expected in Q1/2022 and with the planned pilot plant expected to become operational during H1/2022.
"Under the revised production profile targets announced by LAC (but retaining the PFS LCE price of US$12,000/tonne), Phase 1 royalty revenue attributable to Trident would increase from approximately US$3.8 million per annum to +US$5 million, with Phase 2 royalty revenue increasing from approximately US$7.6 million per annum to +US$10 million; noting that the current LCE price is now >US$25,000 per tonne."