ioneer (US:IONR)2025-10-30 23:00Project Overview - Rhyolite Ridge is a rare lithium and boron deposit in Nevada, poised to produce high-purity, refined chemicals on-site[14] - The project boasts strong economics with a levered NPV of $2.3 billion and an IRR of 23.2%[20] - The project has a substantial ore reserve of 265Mt, supporting a 77-year mine life with a Phase 1 operation processing 3.4mtpa[20] - The project is fully permitted, shovel-ready, has secured offtakes, and benefits from low-cost US government debt[20] Financial Performance - The project anticipates average annual revenue of $790 million during years 1-25 and $608 million over the Life of Mine (LOM)[22] - Average annual EBITDA is projected at $563 million for years 1-25 and $417 million over the LOM[22] - Capital costs are estimated at $1,683 million[22] - The project's unlevered NPV is $2,237 million, with an unlevered IRR of 18.0%[22] Operational Efficiency - The project aims for an all-in sustaining cash cost of US$4,628 per tonne of Lithium Carbonate Equivalent (LCE), placing it in the bottom quartile of the global lithium cost curve[20] - The project's C1 OPEX is projected at $2,933 per LCE tonne for years 1-25[28] - The Life of Mine (LOM) AISC OPEX is $5,216 per LCE tonne[30] Expansion and Resources - The project has a proven expansion potential with a 549Mt Mineral Resource[20] - The total Proved & Probable Ore Reserve is 265,531 kt with a Li grade of 1,443 ppm and a B grade of 5,112 ppm, containing 2,039 kt of Li2CO3 equivalent and 7,761 kt of H3BO3 equivalent[23]