Wildcat’s Tabba Tabba Project Delivers Solid PFS and a Bright Future

Wildcat Resources (ASX:WC8) has taken a confident step forward with the release of its pre-feasibility study for the Tabba Tabba lithium project in Western Australia. The study outlines a strong case for a long life, low cost operation with early cash flow potential and plenty of room for growth.

The Tabba Tabba project is located just 70 kilometres south east of Port Hedland, with excellent access to infrastructure. The PFS lays out an initial mine life of 13 years, supported by a maiden ore reserve of 12.3 million tonnes at 1.16 percent lithium oxide. That reserve is part of a broader mineral resource of 21.1 million tonnes grading 1.0 percent lithium oxide.

One of the standout features is the high-quality product. The study forecasts annual production of 300,000 tonnes of spodumene concentrate at a robust 5.5 percent grade. Importantly, test work indicates low impurities and high lithium recoveries, both of which should help attract offtake partners.

In terms of economics, the project boasts a post-tax net present value of $1.3 billion and an internal rate of return of 92 percent, based on a conservative lithium price of US$1,750 per tonne. Payback is expected within 16 months of first production.

Initial capital costs are estimated at $275 million, with Wildcat planning to fund development through a mix of equity and debt. The company expects early revenue from a proposed direct shipping ore operation, which would help reduce upfront funding requirements and speed up the development timeline.

According to managing director Samuel Ekins, “The PFS confirms Tabba Tabba as a highly attractive lithium project with significant upside. It is rare to see a project of this scale and quality come together so quickly.”

The company’s strategy is to keep development simple and flexible. A conventional dense media separation plant will be used for processing, avoiding the need for more complex flotation. The flowsheet has been designed to allow for future expansion as more resources are defined.

Drilling is already underway to extend the resource and convert more of it into reserves. Exploration also continues along strike and at depth, with the geological model pointing to the possibility of further high-grade zones.

Tabba Tabba has the added advantage of being a brownfields site, with past tantalum mining meaning much of the ground has already been disturbed. This should help smooth the path through permitting and reduce environmental impacts.

Wildcat says it is in active discussions with potential offtake partners, and the strong PFS numbers are likely to sharpen interest. With global demand for lithium continuing to grow and pricing showing signs of stability, Tabba Tabba is shaping up as one of the more compelling new Australian lithium stories.

As the market increasingly favours near-term developers with scalable assets and straightforward processing, Wildcat is clearly positioning itself in the right place at the right time. If drilling success continues and development stays on track, this project could be delivering product into global markets sooner than many expected.