Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) CEO Bill Willoughby has called the feasibility study on the company’s Clayton Valley lithium project a “major milestone.”
Willoughby told investors that the report, released in April 2024 and filed on Thursday, is the “culmination of the dedicated work of our team of employees and consultants and highlights the economic benefits of the project made possible by Century's unique use of chlor-alkali and direct lithium extraction processing.”
Key financial metrics from the feasibility study include a 17.2% Internal Rate of Return (IRR) and a Net Present Value (NPV) of $3.16 billion at an 8% discount rate, based on a lithium carbonate price of $24,000/tonne.
The updated Mineral Resource and Reserve Estimates, effective as of April 29, 2024, reveal a Measured and Indicated Resource Estimate of 1,138.59 million tonnes with an average grade of 966 ppm lithium, containing 1.099 million tonnes of lithium or 5.852 million tonnes of lithium carbonate equivalent (LCE).
The Proven and Probable Mineral Reserve Estimate totals 287.65 million tonnes with an average grade of 1,149 ppm lithium, containing 0.330 million tonnes of lithium or 1.759 million tonnes of LCE.
The Clayton Valley project is located in west-central Nevada and wholly owned by Century Lithium.
Following the recent completion of the feasibility study, Century Lithium is now progressing through the permitting phase, aiming to position itself as a key domestic supplier of lithium for the expanding electric vehicle and battery storage industries.