Rose Lithium-Tantalum Project

advanced to feasibility stage

The Rose Lithium-Tantalum project is an advanced open-pit lithium deposit located in the James Bay region of northern Quebec. It holds indicated resources of 18.1 million tonnes grading 1.2% Li2O and 144 ppm Ta2O5, with inferred resources adding further potential. The project is focused on producing spodumene concentrate for lithium-ion batteries, with positive economics from a 2022 feasibility study showing an after-tax NPV5% of C$663 million and 23% IRR. The project benefits from Quebec's hydroelectric power and established mining infrastructure, with recent metallurgical optimizations boosting lithium recovery rates to over 85%. The project also produces tantalum as a byproduct, adding revenue diversification. The company targets first concentrate output by 2028, with strategic offtake agreements and a funding strategy involving equity, flow-through shares, debt, and potential government grants.