PEA on Lithium Tailings Project Indicates Excellent Economics and Financial Returns

The lithium market is heating up and Africa has been a hotbed for companies in this space working to extract its mineral riches [Open in your browser]( [Stockhouse.com]( [Investor Alert] [PEA on Lithium Tailings Project Indicates Excellent Economics and Financial Returns] Positive PEA Boosts Profitable Lithium Stock --------------------------------------------------------------- [Visit the company website]( [Facebook]( [Twitter]( PEA Boosts Profitable Lithium Stock) [LinkedIn]( [Email](mailto:?subject=Positive PEA Boosts Profitable Lithium Stock&body= Jon Brown, The Market Herald The lithium market is heating up and Africa has been a hotbed for companies in this space working to extract its mineral riches Working in that area with the backing of Glencore, it's no secret how Tantalex Lithium Resources Corp.'s ([CSE:TTX]( stock rose nearly 30 per cent over the past year, given the news the company has been putting out recently. In October, the Toronto-based miner released a positive preliminary economic assessment (PEA) for its Manono Lithium Tailings Project in the Democratic Republic of Congo. The Manono area is home to the largest undeveloped lithium hard rock resource in the world and mining giants are taking notice. ERG, the Kazakh heavyweight has recently started it’s exploration campaign in the area and Zijin Mining, the partner company of Ivanhoe who built the Kamoa copper mine, has just announced an impressive investment to develop an open pit mine. Tantalex highlighted the findings of the PEA, which indicated excellent economics and financial returns for the project. [SEE COMPANY PROFILE]( The PEA at a glance The robust pre-tax net present value (NPV) with a 10 per cent discount rate stood at approximately $764 million on a nominal basis, with an internal rate of return (IRR) of 87.4 per cent. The PEA also shows a pre-tax NPV of about $638-million and an 82.3 per cent IRR on a real basis. The project's capital cost estimate, including contingencies, is $147.7 million. Key Financial Metrics. Source: Tantalex Lithium Resources Corp. "We have sized the project scope in order to use existing infrastructures but as the Manono region develops into an important lithium mining region, we are confident that energy and logistics costs will significantly reduce," the company's president and CEO, Eric Allard said in [a news release](. He said the company will continue to pursue its resource definition works to increase the life of mine on the tailings property and its highly prospective hard-rock lithium pegmatite corridor. He also mentioned that the PEA has identified several opportunities to enhance capital and operating costs and increase plant capacity. The PEA indicates a rapid payback of one year after first production using a life-of-mine (LoM) spodumene concentrate price of $2,800 per tonne, as forecast by international price reporting agency Fastmarkets. Manono Lithium Tailings Project Located in the prolific Manono area in the Democratic Republic of Congo, the Manono Lithium Tailings Project's capital cost estimate (CAPEX) is $147.7 million including contingencies. The LoM is six years, with estimated production of 112,000 tonnes per year of spodumene concentrate. The project is designed to have low-risk plant operation and tailings reclamation, with readily available tailings dump resources providing feedstock to the beneficiation plant at a minimal cost for mining, crushing, grinding and processing. Manono Lithium Project Location. Source: Tantalex Lithium Resources Corp. The Manono Lithium tailings are technogenic deposits, created from the processing of material from the Manono-Kitolo deposit, which was mined from 1919 to the mid-1980s for tin and columbite-tantalite (coltan). The Mineral Resources were classified into the Measured, Indicated, and Inferred categories for each deposit and reported at a cut-off grade of 0.20 per cent Li2O. [INVESTOR UPDATES]( Investment corner These positive results underscore the project's viability and potential for long-term value creation for Tantalex Lithium and its stakeholders. The major advantage of the project is that seeing as there is no complicated mining plan, the project can be fast tracked for first production in 2025. This is a major advantage compared with other exploration lithium companies. Glencore, a longtime copper and cobalt mining giant in the DRC recently announced it would back Tantalex by providing 1/3 of the CAPEX and be in charge of all the marketing and product sales. The process plant nameplate capacity is 1.26 million tonnes a year of run-of-mine ore based on a robust flowsheet using learnings from other lithium producers. Other minerals present in the dumps such as tin and tantaleum will also be recuperated to provide even more robust profitability. The exploration program is being finalised with a focus on increasing indicated resources and extending the life of the project. The results of the PEA study demonstrate that the project has the potential to be technically and economically viable as a producer of lithium spodumene concentrate. The PEA has shown that the Manono Lithium Tailings Project has no critical technical flaws, and the feasibility study is anticipated to commence in October 2023. News from companies such as Tantalex Lithium Resources Corp. prove for investors that the lithium ship hasn't quite sailed yet and many "ground level" opportunities are still to be had. Time is still limited though, as recent data from Grandview Research estimates the global lithium market size was valued at US$7.49 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.3 per cent from 2023 to 2030. CEO Allard added, "This PEA is perfectly aligned with the results of our maiden resource report filed in January. It was our decision to focus our efforts on completing this PEA as a priority, which now allows us to progress on our feasibility and environmental-and social-impact assessment studies." For more on this company, visit tantalexlithium.com. Join the discussion: Find out what everybody's saying about this stock on the [Tantalex Lithium Corp](. Bullboard and check out the rest of [Stockhouse's stock forums and message boards](. [VIEW COMPANY WEBSITE]( This is sponsored content issued on behalf of Tantalex Lithium Resources Corp., please see full disclaimer [here](. The Information in a Stockhouse Publishing Ltd. 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