Global Geoscience study proves it’s a life-long, low cost producer

Company News

by Jessica Amir

Top 300 company, Global Geoscience (ASX:GSC) released results from its independent pre-feasibility study noting its Rhyolite Ridge lithium-boron Nevada, USA project, is a life-long, lost cost project at the bottom of the cost curve.

The study found production could kick off from 2021 and the mine could produce for 30 years with the opportunity to extend and expand.

Additionally, the project has been classed as ‘low-cost for a lithium producer at $1,796 per tonne of lithium carbonate (with boric acid).

The MD, Bernard Rowe says he is delighted with the outcome and with $75 million in cash, it’s able to undertake works required to rapidly get the project into production. The company will now kick off what they are saying are ‘serious discussions’ with potential market and finance partners.

The study was conducted by an independent engineering firm, Amec Foster Wheeler. 

Global Geoscience (ASX:GSC) shares are trading 6 per cent higher at $0.27 cents, taking the shares back to where they traded at the beginning of the month.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.