CENTURY LITHIUM REPORTS UPDATED FEASIBILITY STUDY WITH AFTER-TAX NPV OF $4.01 BILLION AND OPERATING COSTS OF $4,389 PER TONNE OF LITHIUM CARBONATE FOR THE ANGEL ISLAND LITHIUM PROJECT, NEVADA
Century Lithium transforms project economics with $4B NPV and negative net operating costs via caustic soda byproducts
The most recent news (February 23, 2026) reports a major update to the Feasibility Study (FS) for the Angel Island Lithium Project in Nevada. Key highlights include an after-tax Net Present Value (NPV) of $4.01 billion at an 8% discount rate and an Internal Rate of Return (IRR) of 27.4%. Most notably, the project reports operating costs of $4,389 per tonne of lithium carbonate, but when accounting for the sale of surplus sodium hydroxide (caustic soda) generated by its on-site chlor-alkali plant ($5,393/t credit), the net operating cost effectively drops below zero. The project features a 40-year mine life with a phased expansion strategy.
This news is Material - Positive as it represents a significant upgrade from the April 2024 Feasibility Study, which pegged the NPV at $3.16 billion and IRR at 17.2%. - Economic Robustness: The jump in NPV from $3.16B to $4.01B and IRR from 17.2% to 27.4% significantly enhances the project's bankability. - Cost Leadership: By achieving a net-negative operating cost through byproduct credits, Century Lithium positions itself as one of the lowest-cost potential producers globally, providing a massive cushion against lithium price volatility. - Validation of Strategy: The transition from the 2024 study to the 2026 update shows management successfully optimized the flowsheet (switching to chloride leaching and DLE) and capitalized on the chlor-alkali byproduct strategy. - Scale: The resource remains massive (5.85 million tonnes LCE in M&I), supporting a multi-decade operation in a Tier-1 jurisdiction (Nevada).
Century Lithium Corp. is an advanced-stage developer focused on the Angel Island Lithium Project (formerly Clayton Valley) in Nevada. The project is a sedimentary (claystone) deposit. The company utilizes a patent-pending chloride-based leaching process combined with Direct Lithium Extraction (DLE). The project is unique for its integrated chlor-alkali plant which produces necessary reagents on-site and generates surplus sodium hydroxide for sale.