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

Location
Ontario, Canada.

Project Owner/s
Green 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 received an extended letter of interest (LOI) from Export Development Canada (EDC) for potential financing support of up to C$100-million. The extension prolongs the validity of the LOI – first announced on December 23, 2024, until December 2026.

The additional time will enable EDC to complete its due diligence and in-house approval processes. GT1 has also indicated that the LOI reaffirms EDC’s ongoing interest in partnering with the company and expects that EDC may co-lend alongside other export credit agencies and/or commercial lenders.
MD Cameron Henry has said the extension reflects continued engagement between the parties and provides time to complete the required processes for a transaction of this scale. He has further noted that improving lithium market conditions strengthen the case for advancing Seymour and that the company expects 2026 to be a significant year as key milestones are achieved.

Henry has also pointed to what he describes as growing momentum from the Canadian and Ontario governments, including policy changes and funding initiatives aimed at accelerating critical mineral projects. He has noted that government readiness to support early-stage critical mineral development has reinforced confidence in the jurisdiction where Seymour is being developed.

GT1 has also highlighted recent government policy reforms and funding measures intended to speed up project delivery. In Ontario, the One Project One Process (1P1P) Bill, introduced in 2025, aims to consolidate permitting submissions and reduce approval timelines for new mining projects by 50%. Federally, Canada’s 2025 budget has established a C$2-billion Critical Minerals Sovereign Fund, intended to provide strategic support through equity investments, loan guarantees and offtake agreements, with operations expected to start in the 2026/27 financial year.

The company has also referenced the First and Last Mile Fund, which provides C$372-million over four years, starting in 2026/27, and incorporates the existing Critical Minerals Infrastructure Fund. Total support of up to C$1.5-billion is planned for 2029/30 to support upstream and midstream supply chain development.
GT1 has noted that these reforms signal a shift from planning to implementation and are expected to support more efficient advancement of projects such as Seymour. 

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.