Core Lithium to sell Finniss stockpile to Glencore International

Core Viewpoint - Core Lithium has signed a binding agreement to sell its remaining spodumene concentrate stockpile from the Finniss Lithium Project to Glencore International, which is a strategic move to support the company's restart strategy and funding process [1][3]. Transaction Details - The sale involves approximately 5,100 dry metric tonnes (dmt) of spodumene concentrate at a fixed price equivalent to $2,023/dmt, based on the Fastmarkets SC6 CIF China rate at the time of the transaction [2]. - Payment for the stockpile is expected in the June quarter of 2026, utilizing the existing logistics chain from the Finniss project to Darwin Port [2]. Market Context - The sale price reflects a significant increase, being more than 50% higher than the price used in the May 2025 Restart Study, indicating recent strength in the lithium market [3]. - Currently, there is a lithium fines stockpile of around 75,000 dmt available at the site, which was created in 2024 when operations were halted due to an 85% drop in spodumene concentrate prices [3][4]. Strategic Implications - The strategic sale is expected to provide important additional funding and market engagement, which is crucial for the company's plans to restart operations at the Finniss project [3][4]. - The inbound interest for purchasing the stockpiled material reflects the high-quality nature of the Finniss concentrate, which has been well received by offtake customers [4].