Core Exploration (ASX: CXO)
Core Exploration (ASX:CXO) is on an express track from lithium explorer to full-throttle developer.
Since we last updated you on the company in August, CXO has established its first JORC-2012 lithium Resource at the Grants Prospect — 1.8Mt at 1.5% lithium oxide, within its flagship Finniss Lithium Project near Darwin.
The latest news for CXO shareholders is that the company has signed a lithium offtake agreement and a US$20 million prepayment agreement with one of China’s largest lithium hydrocide and carbonate producers.
The company has also announced highly promising assay results at its newly acquired Bynoe Project. The high-grade lithium intersections represent some of the widest spodumene intersections ever drilled in the NT.
CXO has now begun compiling a Pre-Feasibility Study for the Finniss Project. It has initiated a range of environmental, engineering and economic studies to facilitate development and project feasibility of the Grants Deposit, in preparation for mining down the track.
CXO aspires to build on the high-grade Grants Deposit, develop the Finniss Project Resource Estimate as a basis for long-term supply of DSO concentrate, and leverage the infrastructure and logistical advantages of being close to Darwin Port and the city’s skilled workforce.
The information on this page should not be the only trigger for your investment decision. Click on the links below for a more in-depth and informed examination of the company. We strongly recommend you seek professional financial advice whenever making financial investment decisions.
Not only does CXO have a JORC Resource, there is a PFS underway for the Grants Prospect, drilling is happening right now with encouraging results already streaming in, and of course let’s not forget a major plus on this small cap’s score sheet… the uniquely ideal access it has to the Chinese export chain and now has a supply agreement locked away with a $20 million prepayment facility.