Wildcat Resources (ASX:WC8) completion of a Preliminary Feasibility Study (PFS) of the Tabba Tabba Project in Western Australia has, according to the company, a potential ‘robust mine life’.
The PFS also outlines a free cashflow of $4.574 billion pre-tax with a net present value of $1.741 billion and an internal rate of return of 26.6%.
During the first stage of production, infrastructure capital expenditure totals $443 million, while stage one and two pre-strip costs totals $144 million.
Tabba Tabba, which has an initial 17-year mine life, has a maiden ore reserve of 46.3 million tonnes @ 0.99% lithium oxide. The PFS identified the technical and financial viability of a stage one standalone 2.2 million tonnes per year mining and processing operation based on open-pit ore.
Stage two will expand to a 4.5 million tonnes per year operation via open-pit as well as underground operation, contributing production ore from the sixth year.
Wildcat, which has a market capitalisation of $240.6 million, says Tabba Tabba has a forecast steady-rate production target averaging 295,000 tonnes per year of 5.5% lithium oxide spodumene concentrate during stage one and expanding to 565,000 tonnes per year.
Meanwhile, General Manager of Project Development James Dornan says the PFS shows a robust project with strong fundamentals, leveraging open pit and underground mining methods to maximise resource recovery and project value.
“The flexibility of the project to scale up or down in a changing lithium environment is of particular note,” Dornan says.
“Completion of the PFS is a significant milestone in the development of the Tabba Tabba Project. It provides a solid foundation on which to progress through to a Definitive Feasibility Study, which is already in progress, and to continue to engage with our stakeholders including traditional owners, regulators, and strategic partners.”
Managing Director AJ Saverimutto says the study further reinforces Tabba Tabba as one of the “leading undeveloped” lithium projects globally.
“With granted mining leases, proximity to port, large-scale high-confidence resource, and financials that place us in the lowest quartile for operating costs, the project is exceptionally well positioned,” Saverimutto says.
Wildcat is currently conducting a comprehensive financing review to seek funding of the project. Funding arrangements are yet to be finalised, however, the company says it is confident in its ability to secure the necessary financing at each stage of the project.
The company is actively engaging with potential financiers and strategic partners to secure funding for full-scale development and construction.
Wildcat is also exploring joint venture partnerships and offtake agreements as potential funding mechanisms. The company expects to secure a combination of debt, equity, joint ventures, or offtake arrangements as key development milestones are achieved.
As of 30 June 2025, Wildcat had $55 million cash at hand, according to its latest quarterly report.
The Tabba Tabba Project is an advanced lithium and tantalum asset located 80km by road from Port Hedland in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Wildcat Resources
