Highlights:

• 45,000 tpa Lithium Carbonate Equivalent ("LCE") Expansion: Stage 2 is designed to produce 45,000 tpa of LCE, increasing total Cauchari-Olaroz production capacity to approximately 85,000 tpa, with an expected 40-year operating life.
• Compelling Economics: At $18,000/t lithium carbonate, after-tax NPV8% of $3.1 billion and IRR of 28.5%.
• Competitive Cost Profile: Estimated operating costs of US$5,006/t of lithium carbonate, supported by higher process recoveries and brownfield synergies.
• Flexible Hybrid DLE Processing: The characteristics of the Cauchari-Olaroz brine and existing infrastructure provide flexibility to optimize the processing approach based on cost, technical performance and environmental considerations.
• Phased Development Approach:  Accelerated initial 10,000 tpa of the planned 45,000 tpa Stage 2 expansion using adsorption-based DLE technology, expected online during 2028, subject to permitting and regulatory approvals, including the required approvals in Argentina and China related to the deployment and transfer of the adsorption-based processing technology. The accelerated timing of this initial capacity is not reflected in the Scoping Study or its economic analysis.
• Capital-Efficient Expansion: Initial capital cost of approximately US$1.0 billion, reflecting the advantages of expanding an established operating asset.
• RIGI Approved: The project has received approval under Argentina's Régimen de Incentivo para Grandes Inversiones ("RIGI"), providing long-term fiscal stability and investment incentives that enhance long-term project economics.
• Financially Supported by Stage 1: The Company expects to fund Stage 2 through internally generated cash flow and project-level debt, leveraging the cash flow generation of the existing operation.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.