The PFS, conducted on the Lake Hope project located approximately 500 kilometres east of Perth, has revealed a compelling investment case. At the core of the results lies a net present value (NPV) of AUD 1.165 billion, notably excluding any contribution from by-products such as sulphate of potash (SOP), which the company sees as a valuable secondary revenue stream. According to Dr Jones, this valuation puts Lake Hope firmly on the map as a Tier-1 project.
Equally compelling is the project's capital profile. The estimated development capex stands at AUD 250-260 million, a relatively modest ask given the scale of returns. Dr Jones describes this as “a very achievable capital raise,” particularly when viewed against the backdrop of soaring global demand for HPA in lithium-ion batteries, LED lights, and semiconductor substrates.
