Name of the Project
Seymour and Root – mine and concentrator projects.

Location
Ontario, Canada.

Project Owner/s
Technology Metals (GT1).

Project Description
A preliminary economic assessment has considered two development options for the project:

Option 1 evaluates the economics of spodumene production from the Seymour and Root projects over their respective mine lives, without a converter. An estimated 207 000 t/y of saleable spodumene concentrates, or SC5.5 (about a 50:50 ratio), is expected to be produced, culminating in 15 years of mine production, with phased capital expenditure (capex) for two mines and concentrators.

Option 2 considers an integrated lithium project that includes the mines, concentrators and a lithium hydroxide facility, with average lithium hydroxide monohydrate production of 24 400 t/y over a 15-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The mine and concentrator project has an estimated after-tax net present value (NPV) of C$1.19-billion and an internal rate of return (IRR) of 54%, with a payback of 1.3 years.

The integrated project has an estimated NPV of C$1.51-billion and an IRR of 27%, with a payback of 3.3 years.

Capital Expenditure
Initial startup capital for the mine and concentrator is estimated at C$216-million and the second phase at C$467-million.

Startup capex for the integrated project is estimated at C$1.06-billion.

Planned Start/End Date
Not stated.

Latest Developments
GT1 has appointed engineering consultancy Altris Engineering to optimise and lead the definitive feasibility study (DFS).
GT1 MD Cameron Henry said on December 1 that the appointment came as momentum continued to build in Canada’s critical minerals sector: “I have spent the past few weeks in Canada attending the Ontario Critical Minerals Forum, and it has been incredible to see firsthand the government’s strong focus on critical minerals development and supply chain security. There is real momentum in the market, and it is an exciting time for the sector”. 

Henry added that GT1 continued to view itself as undervalued, but remained focused on project execution.

Altris MD Michael Ehlers said the consultancy was pleased to take on the lead role in the feasibility work: “The Seymour project represents a unique opportunity to establish the province’s first lithium production, and our team is excited to begin contributing to its development”.

GT1 remains in cash-conservation mode, but continues to prioritise critical path items for permitting and development. The company will conduct internal work, where possible, while relying on Altris to lead specialised technical studies required for approvals.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Green Technology Metals, tel +61 8 6557 6825 or email info@greentm.com.au.