Birimian releases PFS on lithium project

Lithium hopeful Birimian has released a pre-feasibility study on its Goulamina project in Mali, with five development scenarios that range the capex between $US87 million ($A110 million) and $US412 million ($A524 million).

Subiaco-based Birimian said its study had envisaged a mine life of between nine and 14 years, with an estimated capital cost of between $US87 million and $US142 million depending on the decision to proceed with one of four development scenarios.

They include variances between a 1 million tonne per annum operation and a 2Mtpa operation, with mine life and LOM resources fluctuating between those options.

A fifth scenario involves a secondary processing of about half of the available spodumene concentrate to produce battery-grade lithium carbonate for sale, which would lift the development capex to $US412 million.

“The PFS demonstrates that Goulamina is potentially a robust project, both technically and economically, based on the current indicated mineral resource,” chief executive Greg Walker said.

“The recent shallow-hole drilling results delineating additional lithium-bearing pegmatite anomalies at Yando, Sabali and Danaya have highlighted the exploration potential of the project area.

“The forthcoming drilling program on these targets may increase the project’s mineral resource base, which in turn would redefine and enhance the preferred development strategy.”

Birimian acquired Goulamina in April last year for an undisclosed sum (and from an undisclosed vendor) and had planned to sell the asset to Chinese chemical company Shandong Mingrui Group in January for $107 million.

That sale fell through within a month, after the buyer failed to make an initial deposit within a given deadline.

Birimian shares fell 31.3 per cent to 28.5 cents each by the close of trade.