The scenario, it noted, also offers options and flexibility to unlock the potential of Shaakichiuwaanaan to become a lithium raw materials supplier in North America. The asset, the largest known lithium pegmatite mineral resource in the Americas, hosts vast spodumene crystals, which enhances processing efficiency and recovery rates, Patriot said.
The Vancouver-based miner noted the PEA incorporates a staged development strategy, with Stage 1 requiring an estimated initial net capital expenditure (capex) of C$640 million (around $470m).
This first phase lays the groundwork for production, followed by a Stage 2 expansion aimed at doubling output to 800,000 tonnes of spodumene concentrate per year. The estimated net capex for the Stage 2 expansion is C$408 million ($300m).
The combined net cost to reach nameplate production for both Stage 1 and Stage 2 is estimated at around C$608 million ($447m), considering cash flows from Stage 1…
