CENTURY LITHIUM ANNOUNCES POSITIVE RESULTS FROM OPTIMIZATION PROGRAM AT ANGEL ISLAND LITHIUM PROJECT, NEVADA
Century Lithium (OTCQX: CYDVF) has completed an internal Optimization Study for its Angel Island Lithium Project in Nevada, identifying potential cost reductions of up to 25% on the initial Phase 1 CAPEX of $1.581 billion. The study focused on reducing capital costs through changes in flow sheet, equipment selection, and updated vendor quotes in processing areas including filtration, Direct Lithium Extraction, and chlor-alkali plant.
Key improvements include streamlining engineering and construction plans, eliminating redundancies, reducing on-site services costs, and lowering estimated indirect costs for contingency and EPCM. The company plans to initiate an Updated Feasibility Study to confirm these optimization results, which could significantly impact the project's economics.
Century Lithium (OTCQX: CYDVF) ha completato uno studio interno di ottimizzazione per il suo Angel Island Lithium Project in Nevada, identificando potenziali riduzioni dei costi fino al 25% rispetto al CAPEX iniziale della Fase 1 di 1,581 miliardi di dollari. Lo studio si è concentrato sulla riduzione dei costi di capitale attraverso modifiche nel flusso di lavoro, selezione dell'attrezzatura e aggiornamenti delle offerte dei fornitori nelle aree di lavorazione, inclusi filtrazione, estrazione diretta di litio e impianto di cloro-alcali.
I principali miglioramenti includono la semplificazione dei piani di ingegneria e costruzione, l'eliminazione delle ridondanze, la riduzione dei costi dei servizi in loco e il calo dei costi indiretti stimati per imprevisti e EPCM. L'azienda prevede di avviare uno studio di fattibilità aggiornato per confermare questi risultati di ottimizzazione, che potrebbero avere un impatto significativo sull'economia del progetto.
Century Lithium (OTCQX: CYDVF) ha completado un estudio interno de optimización para su Angel Island Lithium Project en Nevada, identificando posibles reducciones de costos de hasta el 25% sobre el CAPEX inicial de la Fase 1 de 1,581 millones de dólares. El estudio se centró en reducir los costos de capital mediante cambios en el flujo de trabajo, la selección de equipos y la actualización de las cotizaciones de los proveedores en áreas de procesamiento que incluyen filtración, extracción directa de litio y planta de cloro-alcali.
Las mejoras clave incluyen la optimización de los planes de ingeniería y construcción, la eliminación de redundancias, la reducción de costos de servicios en el sitio y la disminución de los costos indirectos estimados para contingencias y EPCM. La empresa planea iniciar un estudio de viabilidad actualizado para confirmar estos resultados de optimización, lo que podría tener un impacto significativo en la economía del proyecto.
Century Lithium (OTCQX: CYDVF)는 네바다에 있는 Angel Island Lithium Project에 대한 내부 최적화 연구를 완료하였으며, 초기 1단계 CAPEX인 15억 8,100만 달러에 대해 최대 25%의 비용 절감 가능성을 확인했습니다. 이 연구는 흐름도 변경, 장비 선택, 필터링, 직접 리튬 추출 및 염소-알카리 공장을 포함한 가공 분야의 공급업체 견적 업데이트를 통해 자본 비용을 줄이는 데 중점을 두었습니다.
주요 개선 사항으로는 엔지니어링 및 건설 계획의 간소화, 중복 제거, 현장 서비스 비용 절감, 비상 및 EPCM에 대한 간접 비용 추정 감소가 포함됩니다. 회사는 이러한 최적화 결과를 확인하기 위해 업데이트된 타당성 조사를 시작할 계획이며, 이는 프로젝트 경제성에 상당한 영향을 미칠 수 있습니다.
Century Lithium (OTCQX: CYDVF) a terminé une étude interne d'optimisation pour son Angel Island Lithium Project au Nevada, identifiant des réductions de coûts potentielles allant jusqu'à 25 % par rapport aux CAPEX initiaux de la Phase 1 de 1,581 milliard de dollars. L'étude s'est concentrée sur la réduction des coûts d'investissement grâce à des modifications du schéma de flux, à la sélection des équipements et à la mise à jour des devis des fournisseurs dans les domaines de traitement, y compris la filtration, l'extraction directe de lithium et l'usine de chlore-alcali.
Les principales améliorations comprennent la rationalisation des plans d'ingénierie et de construction, l'élimination des redondances, la réduction des coûts des services sur site et la diminution des coûts indirects estimés pour les imprévus et l'EPCM. L'entreprise prévoit de lancer une étude de faisabilité mise à jour pour confirmer ces résultats d'optimisation, qui pourraient avoir un impact significatif sur l'économie du projet.
Century Lithium (OTCQX: CYDVF) hat eine interne Optimierungsstudie für sein Angel Island Lithium Project in Nevada abgeschlossen und dabei potenzielle Kostenreduzierungen von bis zu 25 % gegenüber den anfänglichen Investitionskosten (CAPEX) der Phase 1 in Höhe von 1,581 Milliarden US-Dollar identifiziert. Die Studie konzentrierte sich auf die Senkung der Kapitalkosten durch Änderungen im Flussdiagramm, die Auswahl von Geräten und aktualisierte Angebote von Lieferanten in den Verarbeitungsbereichen, einschließlich Filtration, direkter Lithiumextraktion und Chlor-Alkali-Anlage.
Wesentliche Verbesserungen umfassen die Straffung der Ingenieur- und Baupläne, die Beseitigung von Redundanzen, die Senkung der Kosten für Vor-Ort-Dienstleistungen und die Verringerung der geschätzten indirekten Kosten für Unvorhergesehenes und EPCM. Das Unternehmen plant, eine aktualisierte Machbarkeitsstudie zu initiieren, um diese Optimierungsergebnisse zu bestätigen, die erhebliche Auswirkungen auf die Wirtschaftlichkeit des Projekts haben könnten.
- Potential 25% reduction in Phase 1 CAPEX ($1.581 billion)
- Identified cost reductions in processing, engineering, and construction
- Optimization of mine plan and processing expected to lead to competitive operating costs
- Additional revenue potential from surplus sodium hydroxide sales
- Current depressed lithium prices affecting market conditions
- Optimization results require validation through Updated Feasibility Study
- Initial high CAPEX of $1.581 billion
Optimization Study highlights leading to the CAPEX reductions:
- Reduced capital costs through changes in flow sheet, equipment selection and updated vendor quotes in the processing areas of filtration, Direct Lithium Extraction ("DLE") and the chlor-alkali plant
- Internal evaluation of the estimated engineering and construction plans to identify areas of overlap and locations within the plan where modifications of site facilities and elimination of redundancies and inefficiencies can streamline the process from mining to the planned on-site production of battery-grade lithium carbonate ("Li2CO3")
- Reductions in the estimated cost for on-site services resulting from the changes in processing
- Reduction in estimated indirect costs for contingency and EPCM calculated in the Feasibility Study as a percentage of direct costs as a result of the cost reductions set out above
"We are very pleased with the outcome of the Optimization Study. These results, if confirmed by an updated Feasibility Study, will have a significant impact on the economics of Angel Island," said Century Lithium President and CEO, Bill Willoughby. "The Company is also in the process of outlining new initiatives at Angel Island that will further unlock value for our shareholders and place Angel Island in the forefront of lithium resources under development in
"Lithium remains critical for Western independence in its energy transformation, underpinning the long-term fundamentals of the industry despite current depressed prices. We believe that with these improved economics and its advanced stage of development Angel Island has now become a key asset in the broader
Century Lithium will initiate work on an Updated Feasibility Study for Angel Island to confirm the results of the Optimization Study to the required level. Century Lithium believes that the optimizations to Angel Island's mine plan and processing, and the sale of surplus sodium hydroxide generated in the production process, will lead to competitive estimated capital and operating costs.
Qualified Person
Todd Fayram, MMSA-QP and Senior Vice President, Metallurgy of Century Lithium is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.
ABOUT CENTURY LITHIUM CORP.
Century Lithium Corp. is an advanced stage lithium company, focused on developing its wholly owned Angel Island project in
Angel Island is one of the few advanced lithium projects in development in
Century Lithium trades on both the TSX Venture Exchange under the symbol "LCE" and the OTCQX under the symbol "CYDVF"; and on the Frankfurt Stock Exchange under the symbol "C1Z".
To learn more, please visit centurylithium.com
ON BEHALF OF CENTURY LITHIUM CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Cautionary Note Regarding Forward-Looking Statements
This release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" and similar expressions suggesting future outcomes or statements regarding an outlook.
Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statements with respect to the potential development and value of the Project and benefits associated therewith, statements with respect to the expected project economics for the Project, such as estimates of life of mine, lithium prices, production and recoveries, capital and operating costs, IRR, NPV and cash flows, any projections outlined in the Feasibility Study in respect of the Project, the permitting status of the Project and the Company's future development plans.
These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein. These risks include those described under the heading "Risk Factors" in the Company's most recent annual information form and its other public filings, copies of which can be under the Company's profile at www.sedarplus.com. The Company expressly disclaims any obligation to update-forward-looking information except as required by applicable law. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place reliance on forward-looking statements or information. Furthermore, Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
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SOURCE Century Lithium Corp.
FAQ
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