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Wildcat Resources: Tabba Tabba Lithium PFS, Costs, and Funding Outlook | AJ Saverimutto
In this episode, we sit down with Ajanth (Aj) Saverimutto, Managing Director of Wildcat Resources (ASX: WC8), to discuss the company’s Tabba Tabba lithium project in Western Australia, recent exploration at Bolt Cutter Central, and what the latest pre-feasibility study (PFS) implies for costs, scale, and timelines.
What we cover
- Project overview: Why Tabba Tabba’s location near Port Hedland and tier-one Pilbara lithium mines matters for logistics and costs.
- Acquisition story: How Wildcat secured the asset and accelerated drilling to reach resource, reserve and PFS milestones.
- PFS takeaways: Base-case design, contingencies, strip assumptions, and the rationale for a staged ramp-up.
- Costs & scale: Headline Capex/Opex, targeted 5.5% spodumene concentrate, recoveries, and throughput steps (2.2Mtpa → 4.5Mtpa).
- Mining plan: Predominantly open pit with later underground; implications for mine life and cash flow sequencing.
- Exploration upside: Early results at Bolt Cutter Central (stacked pegmatites) and potential additions from Chewy/Han/Hutt and tantalum.
- Funding pathways: Debt, offtake/prepay, strategic and government options—and what counterparties are engaging.
- Market context: How Pilbara cost curves, sentiment, and recent moves by majors frame risk and opportunity.
Key numbers discussed (from the interview)
- Capex (incl. pre-strip): ~A$680m (base case).
- Unit costs: ~US$541/t C1 and ~US$650/t AISC (FOB basis discussed).
- Production profile: Stage 1 ~300kt/y SC5.5 ramping to ~600kt/y in Stage 2.
- Recoveries: ~70–80% (with conservative haircut in PFS).
- Mine life: ~17 years initial plan (with potential extensions).
- Mining mix: ~79% open pit / 21% underground over life.
- Balance sheet & history: Last equity raise Nov 2023 (~A$100m @ A$0.76); cash balance discussed at ~A$55m at time of interview.
About the guest
AJ is a mining engineer and accountant with senior ops experience at Freeport-McMoRan’s Grasberg and BHP. He previously restarted and sold the Beta Hunt nickel-gold mine before joining Wildcat.
Sponsors
- Lithium Royalty Corp (TSX: LIRC) — diversified lithium royalty portfolio.
(Website: https://www.lithiumroyaltycorp.com/ | X: https://x.com/Lithium_Royalty )
- USCF Investments — commodity-focused ETFs (e.g., CPER copper, ZSB battery metals, USG gold, SDCI diversified commodities).
(Website: https://www.uscfinvestments.com/ | X: https://x.com/USCFInvestments )
Chapters
(00:00) Introduction
(03:25) AJ's Background
(05:35) Tabba Tabba Acquisition
(07:30) Bolt Cutter Discovery
(09:40) PFS Highlights
(11:51) Capex, Opex & Output
(13:17) Resource Upside
(14:27) Mining Plan
(15:23) Metallurgy & Recoveries
(17:58) Funding Pathways
(19:01) Near-Term Catalysts
(20:23) Competitive Edge
(23:11) Market Context
(25:47) Investor & Offtake Interest
(29:42) Global Counterparties
(30:48) Government Support
(31:39) Closing Remarks
Links
- Read Matt's research blog: https://blog.rkequity.com/
- Sign up for the Lithium-Ion Bull newsletter: https://rkequity.com/
Have a question? Drop us an email: [email protected]
Patreon: https://www.patreon.com/rockstockchannel
Podcast:
Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172
Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq
X (Twitter):
Howard: https://x.com/LithiumIonBull
Rodney: https://x.com/RodneyHooper13
Matt: https://x.com/matt_fernley
_________________________________________________
DISCLAIMER
NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH
Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com
Intro and outro audio credit: Jamie Klein
View all episodes
By rockstockchannel
4.3
1212 ratings
In this episode, we sit down with Ajanth (Aj) Saverimutto, Managing Director of Wildcat Resources (ASX: WC8), to discuss the company’s Tabba Tabba lithium project in Western Australia, recent exploration at Bolt Cutter Central, and what the latest pre-feasibility study (PFS) implies for costs, scale, and timelines.
What we cover
- Project overview: Why Tabba Tabba’s location near Port Hedland and tier-one Pilbara lithium mines matters for logistics and costs.
- Acquisition story: How Wildcat secured the asset and accelerated drilling to reach resource, reserve and PFS milestones.
- PFS takeaways: Base-case design, contingencies, strip assumptions, and the rationale for a staged ramp-up.
- Costs & scale: Headline Capex/Opex, targeted 5.5% spodumene concentrate, recoveries, and throughput steps (2.2Mtpa → 4.5Mtpa).
- Mining plan: Predominantly open pit with later underground; implications for mine life and cash flow sequencing.
- Exploration upside: Early results at Bolt Cutter Central (stacked pegmatites) and potential additions from Chewy/Han/Hutt and tantalum.
- Funding pathways: Debt, offtake/prepay, strategic and government options—and what counterparties are engaging.
- Market context: How Pilbara cost curves, sentiment, and recent moves by majors frame risk and opportunity.
Key numbers discussed (from the interview)
- Capex (incl. pre-strip): ~A$680m (base case).
- Unit costs: ~US$541/t C1 and ~US$650/t AISC (FOB basis discussed).
- Production profile: Stage 1 ~300kt/y SC5.5 ramping to ~600kt/y in Stage 2.
- Recoveries: ~70–80% (with conservative haircut in PFS).
- Mine life: ~17 years initial plan (with potential extensions).
- Mining mix: ~79% open pit / 21% underground over life.
- Balance sheet & history: Last equity raise Nov 2023 (~A$100m @ A$0.76); cash balance discussed at ~A$55m at time of interview.
About the guest
AJ is a mining engineer and accountant with senior ops experience at Freeport-McMoRan’s Grasberg and BHP. He previously restarted and sold the Beta Hunt nickel-gold mine before joining Wildcat.
Sponsors
- Lithium Royalty Corp (TSX: LIRC) — diversified lithium royalty portfolio.
(Website: https://www.lithiumroyaltycorp.com/ | X: https://x.com/Lithium_Royalty )
- USCF Investments — commodity-focused ETFs (e.g., CPER copper, ZSB battery metals, USG gold, SDCI diversified commodities).
(Website: https://www.uscfinvestments.com/ | X: https://x.com/USCFInvestments )
Chapters
(00:00) Introduction
(03:25) AJ's Background
(05:35) Tabba Tabba Acquisition
(07:30) Bolt Cutter Discovery
(09:40) PFS Highlights
(11:51) Capex, Opex & Output
(13:17) Resource Upside
(14:27) Mining Plan
(15:23) Metallurgy & Recoveries
(17:58) Funding Pathways
(19:01) Near-Term Catalysts
(20:23) Competitive Edge
(23:11) Market Context
(25:47) Investor & Offtake Interest
(29:42) Global Counterparties
(30:48) Government Support
(31:39) Closing Remarks
Links
- Read Matt's research blog: https://blog.rkequity.com/
- Sign up for the Lithium-Ion Bull newsletter: https://rkequity.com/
Have a question? Drop us an email: [email protected]
Patreon: https://www.patreon.com/rockstockchannel
Podcast:
Apple Podcast: https://podcasts.apple.com/us/podcast/lithium-ion-rocks/id1457969172
Spotify: https://open.spotify.com/show/0KiMIZOPaDg8ENfPJMSINq
X (Twitter):
Howard: https://x.com/LithiumIonBull
Rodney: https://x.com/RodneyHooper13
Matt: https://x.com/matt_fernley
_________________________________________________
DISCLAIMER
NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH
Rodney and Howard are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity’s website https://www.rkequity.com
Intro and outro audio credit: Jamie Klein
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