Finniss锂矿项目重启预计需要1.75亿至2亿澳元的预生产资金，预计单位运营成本将降至690-785澳元 吨

Investment Rating - The report recommends the industry [4] Core Insights - The Finniss lithium project requires pre-production funding of AUD 175 million to 200 million and is expected to reduce unit operating costs to AUD 690-785 per ton [1][6][11] - The resource update for the Finniss lithium project shows a 100% increase in the Grants mine's reserves, reaching 1.15 million tons with a Li2O grade of 1.29% [1][8] - The mining methodology has shifted from open-pit to underground, optimizing the mining plans for BP33 and Carlton mines, with BP33 expected to contribute 85% of the ore supply in the first ten years [2][10] Summary by Sections Project Restart and Research Findings - The Finniss project will transition to underground mining, with a new entrance planned near existing transport routes [2] - The BP33 deposit features a significant vertical pegmatite body, making it suitable for high-yield, low-cost mining methods [2] Processing and Cost Structure - The existing heavy medium separation plant will expand from 1 million tons per year to 1.2 million tons per year, with processing costs expected to decrease by 33% to AUD 40-46 per ton [3][6] - The average recovery rate is projected to improve to 78%, with a focus on enhancing concentrate quality and reducing processing costs [5][10] Capital Expenditure and Financing - Core Lithium is actively pursuing financing options to support the Finniss project restart, with a current cash balance of AUD 30 million sufficient for ongoing project activities [7] - The final investment decision (FID) will depend on board approval and securing attractive financing [7] Production and Inventory - Core Lithium holds approximately 5,000 tons of lithium concentrate and 75,000 tons of lithium powder, providing potential short-term options for market price improvements [8] - The total ore reserves for the Finniss project amount to 10.73 million tons with an average Li2O grade of 1.29% [8][10]