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 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.