Green Technology Metals’ optimised PEA outlines standalone mine development with robust economics at Seymour

Green Technology Metals’ optimised PEA keeps its Seymour project on track for a final investment decision in 2026 and first production in 2027.

Exciting stuff: Green Technology Metals’ optimised PEA has outlined Seymour as a standalone development with robust economics. Pic: Getty Images

Special Report: Green Technology Metals has highlighted the ability of its Seymour lithium project in Ontario, Canada, to deliver robust economics in an optimised Preliminary Economic Assessment.

• Green Technology Metals’ optimised PEA for Seymour highlights potential to deliver robust economics
• After-tax NPV and IRR estimated at ~US$251m and 33% respectively while capex has dropped to US$182m
• Company looking to make a final investment decision in 2026 and deliver first production in 2027.

The optimised PEA, which examines Seymour as a standalone development rather than as part of a combined operation including its Root project, takes into account updated optimisations and mine development options and changed lithium market conditions.

The study defined favourable economics for alternative mine development options, including both open pit and underground operations, confirming Seymour stands as a viable and resilient standalone operation with the potential to emerge as Ontario’s first operational lithium mine.

Under the 2025 PEA, Green Technology Metals (ASX:GT1) has forecast that the optimisations will allow Seymour to deliver attractive after-tax net present value and internal rate of return – both measures of profitability – of ~US$251m and 33% respectively.

Pre-production Capex was also reduced from US$214m to US$182m while C1 operating costs are estimated at ~US$753/t of 5.5% spodumene concentrate. Payback is expected in 3.5 years.

The optimisations also reduced total material movement by ~70% and reduced the strip ratio from 18.1:1 to a much lower 5.4:1.

“We are pleased with the outcomes of our standalone Seymour PEA, showcasing an alternative mine development option for a more cost-effective, resilient operation,” managing director Cameron Henry said.

“We have a robust project delivery strategy with low capital thresholds, positioning Seymour to be the first lithium project to commence production within Ontario, a tier-1 province. 

“The economic advantages of executing a project in Ontario are obvious and compelling, driven by outstanding infrastructure, government incentives and proximity to the North American EV supply chain. 

“We remain committed to advancing our Seymour Lithium Project, completion of our DFS, reaching FID, and ultimately achieving construction readiness."

Rendered Seymour project layout showing views of processing plant, mining and water management infrastructure. Pic: Green Technology Metals

Simple operation

The 151.4km2 Seymour project sits near the town of Armstrong and ~230km north of Thunder Bay.

Under the PEA, which is underpinned by the 2023 resource estimate of 10.3Mt at 1.03% Li2O, Seymour is envisioned as a simple open pit mine with underground mining potential which will use an industry-standard dense medium separation concentrator to produce a 5.5% spodumene concentrate.

It will also benefit from short transportation distances and low corporate income taxes.

Due to Seymour’s strategic location and favourable economic outlook, GT1 remains focused on delivering the project into production in 2027.

It is currently advancing a definitive feasibility study with a focus on workstreams to advance the project definition and detail to support a positive final investment decision.

These include a resource estimate update incorporating infill drilling from Seymour and the nearby Junior project, mine geotechnical data interpretation and definition of rock strength parameters for pit design, and metallurgical testing focused on orebody variability, including DMS testwork and ore sorting amenability.

GT1 will also seek to optimise site infrastructure, earthworks and water management design, identify power supply and trade-off studies, carry out site geotechnical programs supporting infrastructure and processing plant design, and project execution and operations readiness planning.

The company remains engaged with Canadian government and strategic initiatives to secure project funding.

It has already received a letter of interest from Export Development Canada for the provision of up to C$100m in project financing and a letter of intent granting conditional approval for C$5.5m in funding from the Critical Minerals Infrastructure Fund to support vital road infrastructure development.

Discussions are also continuing with EcoPro Innovation regarding project-level investment, with completion targeted for H1 2025.

Assays are currently pending from drilling at Junior, which could potentially identify additional resources that could extend the lifespan and boost the economics of the Eastern Hub and Seymour mine.

This article was developed in collaboration with Green Technology Metals, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Green Technology Metals’ optimised PEA outlines standalone mine development with robust economics at Seymour