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Global Lithium Resources Limited (ASX:GL1)

ALERT: Price-sensitive ASX Announcement for GL1
Current share price for GL1 : $0.470 -0.155 (-24.80%)+
Announcement
Release
4 Dec 2025 9:34AM
Price at Release
$0.625
Full Release
download
Summary
The Manna Lithium Project (MLP), owned by Global Lithium Resources Limited, is positioned as the third largest lithium deposit in the Eastern Goldfields of Western Australia. The project boasts a total resource estimate of 51.6 million tonnes at 1.00% Li2O, with a projected Life of Mine (LOM) of 14.3 years and an estimated total production of 2.763 million tonnes of spodumene concentrate. The MLP is supported by 82% Ore Reserves for the first 14 years, with robust financials indicating a post-tax NPV8 of A$472 million and an IRR of 25.7%. The project features low-risk operations with a cash operating cost of US$646 per tonne. Key infrastructure includes a process plant, roads, and an accommodation village. The project is backed by significant environmental approvals and a native title agreement, with mining operations set to transition from open pit to underground by year 7.
Key Points
  • The Manna Lithium Project (MLP) is the third largest lithium deposit in the Eastern Goldfields with a total resource estimate of 51.6Mt at 1.00% Li2O.
  • The project has a Life of Mine (LOM) of 14.3 years with an estimated total spodumene concentrate production of 2.763Mt SC5.5 (dry tonnage).
  • 82% of the mining inventory for the first 14 years is supported by Ore Reserves.
  • The cash operating cost for the LOM is US$646/t or A$965/t SC5.5 with a post-tax NPV8 of A$472M and 25.7% IRR.
  • Breakeven price for EBITDA is US$784/t SC6.0 while for NPV is US$1,060/t SC6.0.
  • The project involves low-risk open-pit mining operation and flotation plant with a spodumene recovery of 72.85%.
  • The project infrastructure includes a process plant, internal roads, accommodation village, and a power station.
  • The total capital expenditure is estimated at A$439.1 million with major components like pre-production mining costs and process plant costs.
  • Environmental approvals are well advanced alongside a Native Title Mining Agreement in place.
  • The project is expected to commence with open-pit mining transitioning to underground operations by year 7.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.