Core Lithium Ltd has detailed an extensive repositioning of its Finniss Lithium Project through a Restart Study that transforms the operation into a long-life, scalable underground mining asset. The updated study outlines a potential 20-year mine life, anchored by an increased Ore Reserve of approximately 10.73 million tonnes at an average grade of 1.29% Li2O. Additionally, the company has reported a high-grade Mineral Resource total of 48.5 million tonnes averaging 1.26% Li2O, with over 45% coming from key deposits such as BP33, Grants, and Carlton. The study also highlights an exploration target at Blackbeard, which could add 7 to 10 million tonnes at around 1.5–1.7% Li2O, although this remains conceptual pending further drilling. The study details major technical and operational improvements, including a 40% reduction in underground mining costs to an estimated $63 to $72 per tonne and a 33% drop in processing costs to about $40 to $46 per tonne. With an upgraded processing plant now capable of achieving a throughput of 1.2 million tonnes per annum and improved global recoveries of 78%, the operation is positioned to produce around 205 thousand tonnes per annum of SC6 equivalent spodumene concentrate. The revised operating model, which shifts all mining to underground methods, is designed to deliver a forecast unit operating cost of approximately $690 to $785 per tonne (FOB basis) and enable significant free cash flow generation estimated at $1.2 billion over the mine’s life. Capital expenditure for pre-production is estimated between $175 million and $200 million, supported by a debt-free balance sheet and a cash reserve of $30 million. The project’s proximity to the Port of Darwin and key export markets across Asia and the Middle East further enhance its strategic advantages. The revamped project strategy emphasizes economic resilience through lower production costs and increased operational efficiencies, underpinned by historically proven performance and robust local logistics. Core Lithium Ltd’s experienced management team, with decades of expertise in mining operations and finance, is guiding the company towards a final investment decision amidst ongoing funding discussions that aim to minimize shareholder dilution. The company also outlines significant local benefits, including job creation and training opportunities in the Northern Territory, reinforcing its commitment to sustainable regional development. Market sentiment appears mixed when weighing the forward-looking improvements against inherent industry risks. On the bullish side, the drastic reduction in production costs, extended mine life, and high-grade resource estimates offer a compelling case in favor of the project. The strategic location with ready access to global markets, combined with a strong management team and a clear operational pathway, reinforces positive investor sentiment. Conversely, bearish concerns remain regarding the inherent risks associated with converting inferred resources into proven reserves, execution uncertainties in transitioning to a fully underground operation, and reliance on securing non-dilutive funding. As such, while the technical indicators and cost efficiencies present a strong case for a resilient asset in a growing lithium market, potential investors should remain mindful of the high-risk, forward-looking nature of these projections and the inherent uncertainties in the mining sector.