Core Lithium Ltd (ASX:CXO) is in trading halt ahead of an upcoming share placement.
The trading halt will remain in place until Wednesday February 3 or when an announcement is made to market, whichever occurs earliest.
Advancing towards Finniss Project construction
Core’s Finniss Lithium Project in the Northern Territory is almost construction ready, with government approvals and a funding offer already in place.
The company expects to complete the definitive feasibility study (DFS) next quarter and anticipates a final investment decision (FID) soon which will allow it to target construction to start in the second half of the year.
Finniss is set to become one Australia’s most capital-efficient and low-cost lithium projects, with capex of $85 million producing $160 million/per annum in revenue.
The project also has access to key infrastructure and sits just 25 kilometres from Australia’s closest port to Asia and the city of Darwin, where the company has an agreement with the Darwin Port to ship 250,000 tonnes per annum of spodumene concentrate or 1 million tonnes per annum of spodumene Direct Shipping Ore (DSO).