THE CRITICAL INVESTOR

Dear subscriber,

Cypress Development delivered an excellent Preliminary Economic Assessment (PEA) for their Clayton Valley Lithium project in Nevada, US, with a colossal after-tax NPV8 of US1.45B and IRR of 32.7%. This was achieved at a lithium carbonate equivalent price of US$13,000/t LCE, which is the current contract price and below spot. However, it is important to see the economics holding up at much lower levels, as lithium product price decks are under pressure as general commodity sentiment is taking a blow at the moment. If management can successfully work out their bench scale acid leaching method up to commercial pilot plant levels, re-rating potential should be huge, and makes Cypress one of the more interesting, extreme blue sky plays out there. Read more about it here:

Cypress Development Announces Strong PEA Economics And Increased Resource At Clayton Valley Lithium Project

Regards,

The Critical Investor