# CXO: September Quarterly Report Presentation

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03152011

Publisher: asx

Original announcement: 2026-10-13T21:42:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-10-13T22:18:12.704Z

Atlas analysis updated: 2026-10-13T22:18:12.704Z

- Company: Core Lithium Ltd

- Ticker: CXO

- Exchange: ASX

- Region: Unavailable

- Primary commodity: Lithium

- Secondary commodities: None reported

- Document categories: Other, Drill results, Resource update

- Extracted: 2026-10-13 22:18:13 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas summary

Core Lithium's September Quarterly Report highlights significant operational progress at its Finniss Lithium Operation, including the achievement of first spodumene concentrate production and continued development of the BP33 underground mine. The company also reported high-grade lithium drill results from BP33, previously announced in August 2026, which reinforce confidence in the orebody's continuity and potential for resource growth. The report provides an overview of the company's strong financial position and includes detailed historical Mineral Resource and Ore Reserve estimates.

Reasoning: The quarterly report highlights strong operational progress, including first concentrate production and on-schedule development. While the high-grade drill results are positive, they were previously announced, reducing their novelty in this document. The detailed resource and reserve tables are also historical, serving as background information.

- Positive factor: High-grade lithium drill results reinforce confidence in resource growth potential

- Positive factor: Plant commissioning and first concentrate production achieved

- Positive factor: BP33 underground development progressing on schedule

- Positive factor: Strong financial position with significant cash balance

- Negative factor: Drill results are a re-statement of previously announced information, limiting novelty

- Negative factor: Resource and reserve estimates are historical, not new updates

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 32

## Classification and evidence

No classification tags are available.

## Extracted facts

Stored fact records: 32. Some facts used in scoring do not have a stored record.

## Drill Results (2)

### NMRD100

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-drill-facts-0)

BP33 · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: NMRD100
- Project: BP33
- Commodity: lithium
- Ticker: CXO

#### Geometry

- Grade: 2.09
- Grade Unit: %
- Intercept: 34.08 m
- From: 578.7 m
- To: 612.78 m
- Intercept Depth: 578.7 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: NMRD100:578.7-612.78

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-08-11T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This high-grade and continuous intercept from exploration drilling at BP33 is very positive, reinforcing confidence in the orebody's potential for growth. However, its novelty is low as it was previously announced.

- Positive factor: High-grade intercept \(2.09% Li2O is exceptional for lithium\)

- Positive factor: Significant intercept length \(34.08m is continuous\)

- Positive factor: Grade x width product \(71.23 Li2O%\*m\) is exceptional

- Positive factor: Extends mineralisation beyond current Mineral Resource Estimate

- Negative factor: Result is historical, previously announced on 11 August 2026

- Negative factor: Apparent width only, true width not stated

Evidence · text

> 34.08m @ 2.09% Li₂O from 578.7m

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Bonanza Intercept** — Rejected; excluded from scoring

Polarity: positive

Definition: Exceptionally high-grade zone, well above the deposit-type norm.

Reason: Grade of 2.09% Li2O exceeds the exceptional threshold of 1.8% Li2O for lithium.

Evidence · text

> 2.09% Li₂O

**Exceptional GT** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: Grade-thickness product of 71.23 Li2O%\*m exceeds the exceptional threshold of 40 Li2O%\*m for lithium.

Evidence · text

> 34.08m @ 2.09% Li₂O

**Continuous Interval** — Rejected; excluded from scoring

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Reason: Intercept length of 34.08m exceeds the continuous threshold of 50m, indicating good width.

Evidence · text

> 34.08m

**Apparent Width Only** — Rejected; excluded from scoring

Polarity: negative

Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.

Reason: The interval is given as downhole width with no true width or drill orientation disclosed.

Evidence · text

> 34.08m

**Stale Data Re-release** — Rejected; excluded from scoring

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Reason: The drill results were previously announced on 11 August 2026, indicating low genuine novelty in this document.

Evidence · text

> Refer to ASX announcement New High-Grade Lithium Drill Results at BP33” on 11 August 2026

### NMRD100

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-drill-facts-1)

BP33 · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: NMRD100
- Project: BP33
- Commodity: lithium
- Ticker: CXO

#### Geometry

- Grade: 2.44
- Grade Unit: %
- Intercept: 3.43 m
- From: 616.5 m
- To: 619.93 m
- Intercept Depth: 616.5 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: NMRD100:616.5-619.93

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-08-11T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This very high-grade intercept, while narrow, further reinforces the quality of the BP33 orebody. Its novelty is low as it was previously announced.

- Positive factor: Very high-grade intercept \(2.44% Li2O is exceptional for lithium\)

- Positive factor: Extends mineralisation beyond current Mineral Resource Estimate

- Negative factor: Narrow intercept length \(3.43m is narrow\)

- Negative factor: Result is historical, previously announced on 11 August 2026

- Negative factor: Apparent width only, true width not stated

Evidence · text

> 3.43m @ 2.44% Li₂O from 616.5m

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

#### Rejected tags

**Bonanza Intercept** — Rejected; excluded from scoring

Polarity: positive

Definition: Exceptionally high-grade zone, well above the deposit-type norm.

Reason: Grade of 2.44% Li2O exceeds the exceptional threshold of 1.8% Li2O for lithium.

Evidence · text

> 2.44% Li₂O

**Weak GT** — Rejected; excluded from scoring

Polarity: negative

Story-specific tag

Definition: No canonical definition is currently available.

Reason: Grade-thickness product of 8.37 Li2O%\*m is below the weak threshold of 10 Li2O%\*m for lithium.

Evidence · text

> 3.43m @ 2.44% Li₂O

**Narrow Interval** — Rejected; excluded from scoring

Polarity: negative

Story-specific tag

Definition: No canonical definition is currently available.

Reason: Intercept length of 3.43m is below the moderate threshold of 8m, indicating a narrow interval.

Evidence · text

> 3.43m

**Apparent Width Only** — Rejected; excluded from scoring

Polarity: negative

Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.

Reason: The interval is given as downhole width with no true width or drill orientation disclosed.

Evidence · text

> 3.43m

**Stale Data Re-release** — Rejected; excluded from scoring

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Reason: The drill results were previously announced on 11 August 2026, indicating low genuine novelty in this document.

Evidence · text

> Refer to ASX announcement New High-Grade Lithium Drill Results at BP33” on 11 August 2026

## Resource Estimates (30)

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-2)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:d84a74827098d472eeb7
- Deposit or zone: Grants

#### Resource Data

- Category: measured
- Tonnes: 1340000
- Grade: 1.48
- Grade Unit: % Li2O
- Contained Metal: 19.8
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Measured resource for Grants provides a high-confidence estimate with a strong lithium grade, supporting project viability. However, it is a historical estimate.

- Positive factor: Highest confidence category \(Measured\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.48% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.48

Context: 1.34

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-3)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:076ea990253d787fae69
- Deposit or zone: Grants

#### Resource Data

- Category: indicated
- Tonnes: 610000
- Grade: 1.49
- Grade Unit: % Li2O
- Contained Metal: 9.1
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Indicated resource for Grants provides a good confidence estimate with a strong lithium grade. However, it is a historical estimate.

- Positive factor: Good confidence category \(Indicated\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.49% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.49

Context: 0.61

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-4)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:72d1549a917d0f824170
- Deposit or zone: Grants

#### Resource Data

- Category: inferred
- Tonnes: 370000
- Grade: 1.27
- Grade Unit: % Li2O
- Contained Metal: 4.7
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Inferred resource for Grants provides an early-stage estimate with a strong lithium grade, but its lower confidence category means it requires further drilling to upgrade. It is a historical estimate.

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(1.27% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lowest confidence category \(Inferred\)

Evidence · table

> 1.27

Context: 0.37

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-5)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:a6c81a7f4c44859fdfbd
- Deposit or zone: BP33

#### Resource Data

- Category: measured
- Tonnes: 2850000
- Grade: 1.44
- Grade Unit: % Li2O
- Contained Metal: 41
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Measured resource for BP33 provides a high-confidence estimate with a strong lithium grade, supporting project viability. However, it is a historical estimate.

- Positive factor: Highest confidence category \(Measured\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.44% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.44

Context: 2.85

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-6)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:23fe263040c8fe497ede
- Deposit or zone: BP33

#### Resource Data

- Category: indicated
- Tonnes: 6510000
- Grade: 1.55
- Grade Unit: % Li2O
- Contained Metal: 101
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Indicated resource for BP33 provides a good confidence estimate with a strong lithium grade. However, it is a historical estimate.

- Positive factor: Good confidence category \(Indicated\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.55% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.55

Context: 6.51

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-7)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:83b80a84c996969aea2d
- Deposit or zone: BP33

#### Resource Data

- Category: inferred
- Tonnes: 1140000
- Grade: 1.59
- Grade Unit: % Li2O
- Contained Metal: 18.1
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Inferred resource for BP33 provides an early-stage estimate with a strong lithium grade, but its lower confidence category means it requires further drilling to upgrade. It is a historical estimate.

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.59% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lowest confidence category \(Inferred\)

Evidence · table

> 1.59

Context: 1.14

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-8)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:0c324d490bbd9cd15021
- Deposit or zone: Carlton

#### Resource Data

- Category: measured
- Tonnes: 2140000
- Grade: 1.33
- Grade Unit: % Li2O
- Contained Metal: 28.5
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Measured resource for Carlton provides a high-confidence estimate with a strong lithium grade, supporting project viability. However, it is a historical estimate.

- Positive factor: Highest confidence category \(Measured\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.33% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.33

Context: 2.14

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-9)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:94270cd646c3ee35ab33
- Deposit or zone: Carlton

#### Resource Data

- Category: indicated
- Tonnes: 3430000
- Grade: 1.32
- Grade Unit: % Li2O
- Contained Metal: 45.3
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Indicated resource for Carlton provides a good confidence estimate with a strong lithium grade. However, it is a historical estimate.

- Positive factor: Good confidence category \(Indicated\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.32% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.32

Context: 3.43

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-10)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:6a513cc5da5278ace86c
- Deposit or zone: Carlton

#### Resource Data

- Category: inferred
- Tonnes: 780000
- Grade: 1.14
- Grade Unit: % Li2O
- Contained Metal: 8.9
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Inferred resource for Carlton provides an early-stage estimate with a strong lithium grade, but its lower confidence category means it requires further drilling to upgrade. It is a historical estimate.

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(1.14% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lowest confidence category \(Inferred\)

Evidence · table

> 1.14

Context: 0.78

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-11)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:82bb96199b41a0cbfb24
- Deposit or zone: Lees

#### Resource Data

- Category: indicated
- Tonnes: 4160000
- Grade: 1.18
- Grade Unit: % Li2O
- Contained Metal: 49.1
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Indicated resource for Lees provides a good confidence estimate with a strong lithium grade. However, it is a historical estimate.

- Positive factor: Good confidence category \(Indicated\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.18% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.18

Context: 4.16

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-12)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:bdad71c14d96a2b80fa2
- Deposit or zone: Lees

#### Resource Data

- Category: inferred
- Tonnes: 7080000
- Grade: 1.12
- Grade Unit: % Li2O
- Contained Metal: 79.3
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Inferred resource for Lees provides an early-stage estimate with a strong lithium grade, but its lower confidence category means it requires further drilling to upgrade. It is a historical estimate.

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(1.12% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lowest confidence category \(Inferred\)

Evidence · table

> 1.12

Context: 7.08

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-13)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:3a9dd263ce4b3dccbf4b
- Deposit or zone: Ah Hoy

#### Resource Data

- Category: indicated
- Tonnes: 1710000
- Grade: 1.2
- Grade Unit: % Li2O
- Contained Metal: 20.5
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Indicated resource for Ah Hoy provides a good confidence estimate with a strong lithium grade. However, it is a historical estimate.

- Positive factor: Good confidence category \(Indicated\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.20% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.20

Context: 1.71

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-14)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:ac770b8eeaeb1dac7ccb
- Deposit or zone: Ah Hoy

#### Resource Data

- Category: inferred
- Tonnes: 2930000
- Grade: 1.38
- Grade Unit: % Li2O
- Contained Metal: 40.4
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Inferred resource for Ah Hoy provides an early-stage estimate with a strong lithium grade, but its lower confidence category means it requires further drilling to upgrade. It is a historical estimate.

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.38% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lowest confidence category \(Inferred\)

Evidence · table

> 1.38

Context: 2.93

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-15)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:8e4b03e51e0767ed84ae
- Deposit or zone: Booths

#### Resource Data

- Category: indicated
- Tonnes: 1840000
- Grade: 0.99
- Grade Unit: % Li2O
- Contained Metal: 18.2
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Indicated resource for Booths provides a good confidence estimate with a moderate lithium grade. However, it is a historical estimate.

- Positive factor: Good confidence category \(Indicated\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(0.99% Li2O is moderate\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 0.99

Context: 1.84

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-16)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:828d3ebc297379bcc320
- Deposit or zone: Booths

#### Resource Data

- Category: inferred
- Tonnes: 1400000
- Grade: 1.06
- Grade Unit: % Li2O
- Contained Metal: 14.8
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Inferred resource for Booths provides an early-stage estimate with a strong lithium grade, but its lower confidence category means it requires further drilling to upgrade. It is a historical estimate.

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(1.06% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lowest confidence category \(Inferred\)

Evidence · table

> 1.06

Context: 1.40

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-17)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:83d64cc6736325b99fb5
- Deposit or zone: Penfolds

#### Resource Data

- Category: indicated
- Tonnes: 650000
- Grade: 1.25
- Grade Unit: % Li2O
- Contained Metal: 8.1
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Indicated resource for Penfolds provides a good confidence estimate with a strong lithium grade. However, it is a historical estimate.

- Positive factor: Good confidence category \(Indicated\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.25% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.25

Context: 0.65

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-18)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:4a983f8f339d63dae69d
- Deposit or zone: Penfolds

#### Resource Data

- Category: inferred
- Tonnes: 710000
- Grade: 1.24
- Grade Unit: % Li2O
- Contained Metal: 8.8
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Inferred resource for Penfolds provides an early-stage estimate with a strong lithium grade, but its lower confidence category means it requires further drilling to upgrade. It is a historical estimate.

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.24% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lowest confidence category \(Inferred\)

Evidence · table

> 1.24

Context: 0.71

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-19)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:8580f57ac477778c37ac
- Deposit or zone: Hang Gong

#### Resource Data

- Category: indicated
- Tonnes: 1510000
- Grade: 1.18
- Grade Unit: % Li2O
- Contained Metal: 17.8
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Indicated resource for Hang Gong provides a good confidence estimate with a strong lithium grade. However, it is a historical estimate.

- Positive factor: Good confidence category \(Indicated\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.18% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.18

Context: 1.51

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-20)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:d7d9365eaa7308bf9954
- Deposit or zone: Hang Gong

#### Resource Data

- Category: inferred
- Tonnes: 1950000
- Grade: 1.14
- Grade Unit: % Li2O
- Contained Metal: 22.2
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Inferred resource for Hang Gong provides an early-stage estimate with a strong lithium grade, but its lower confidence category means it requires further drilling to upgrade. It is a historical estimate.

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(1.14% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lowest confidence category \(Inferred\)

Evidence · table

> 1.14

Context: 1.95

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-21)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:04214930d887863f8748
- Deposit or zone: Sandras

#### Resource Data

- Category: indicated
- Tonnes: 1170000
- Grade: 0.92
- Grade Unit: % Li2O
- Contained Metal: 10.8
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Indicated resource for Sandras provides a good confidence estimate with a moderate lithium grade. However, it is a historical estimate.

- Positive factor: Good confidence category \(Indicated\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(0.92% Li2O is moderate\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 0.92

Context: 1.17

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-22)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:1edc6cd32d5a16463da3
- Deposit or zone: Sandras

#### Resource Data

- Category: inferred
- Tonnes: 570000
- Grade: 0.82
- Grade Unit: % Li2O
- Contained Metal: 4.7
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Inferred resource for Sandras provides an early-stage estimate with a moderate lithium grade, but its lower confidence category means it requires further drilling to upgrade. It is a historical estimate.

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(0.82% Li2O is moderate\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lowest confidence category \(Inferred\)

Evidence · table

> 0.82

Context: 0.57

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-23)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:74e9c1d2a18b2b7a8b62
- Deposit or zone: Bilatos

#### Resource Data

- Category: inferred
- Tonnes: 1920000
- Grade: 1.03
- Grade Unit: % Li2O
- Contained Metal: 19.8
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Inferred resource for Bilatos provides an early-stage estimate with a strong lithium grade, but its lower confidence category means it requires further drilling to upgrade. It is a historical estimate.

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(1.03% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lowest confidence category \(Inferred\)

Evidence · table

> 1.03

Context: 1.92

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-24)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: resource
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:ae2cf537ea47dac82046
- Deposit or zone: Seadog

#### Resource Data

- Category: inferred
- Tonnes: 1410000
- Grade: 1.18
- Grade Unit: % Li2O
- Contained Metal: 16.6
- Contained Unit: kt

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-05-14T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Inferred resource for Seadog provides an early-stage estimate with a strong lithium grade, but its lower confidence category means it requires further drilling to upgrade. It is a historical estimate.

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(1.18% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lowest confidence category \(Inferred\)

Evidence · table

> 1.18

Context: 1.41

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-25)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:d5800850f0eab20f28a3
- Deposit or zone: BP33 Underground

#### Resource Data

- Category: proven
- Tonnes: 2600000
- Grade: 1.27
- Grade Unit: %
- Contained Metal: 32
- Contained Unit: kt
- Cutoff Grade: 110
- Cutoff Unit: $/t NSR

#### Prior Estimate

- Resource Date: 2025-04-30

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-04-30T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Proven reserve for BP33 Underground provides a high-confidence estimate with a strong lithium grade, supporting economic viability. However, it is a historical estimate.

- Positive factor: Highest confidence reserve category \(Proven\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(1.27% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.27

Context: 2.6

#### Tags used in scoring

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-26)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:ec77db599a7e9528fc44
- Deposit or zone: BP33 Underground

#### Resource Data

- Category: probable
- Tonnes: 6700000
- Grade: 1.32
- Grade Unit: %
- Contained Metal: 89
- Contained Unit: kt
- Cutoff Grade: 110
- Cutoff Unit: $/t NSR

#### Prior Estimate

- Resource Date: 2025-04-30

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-04-30T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Probable reserve for BP33 Underground provides a good confidence estimate with a strong lithium grade, supporting economic viability. However, it is a historical estimate.

- Positive factor: Good confidence reserve category \(Probable\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.32% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.32

Context: 6.7

#### Tags used in scoring

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-27)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:9528b9c8c8c98a04f1f7
- Deposit or zone: Grants

#### Resource Data

- Category: proven
- Tonnes: 1200000
- Grade: 1.43
- Grade Unit: %
- Contained Metal: 17
- Contained Unit: kt
- Cutoff Grade: 0.8
- Cutoff Unit: %

#### Prior Estimate

- Resource Date: 2025-10-30

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-10-30T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Proven reserve for Grants provides a high-confidence estimate with a strong lithium grade, supporting economic viability. However, it is a historical estimate.

- Positive factor: Highest confidence reserve category \(Proven\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.43% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.43

Context: 1.2

#### Tags used in scoring

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-28)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:48cc2d69cbfc3b5fb775
- Deposit or zone: Grants

#### Resource Data

- Category: probable
- Tonnes: 300000
- Grade: 1.41
- Grade Unit: %
- Contained Metal: 5
- Contained Unit: kt
- Cutoff Grade: 0.8
- Cutoff Unit: %

#### Prior Estimate

- Resource Date: 2025-10-30

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-10-30T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Probable reserve for Grants provides a good confidence estimate with a strong lithium grade, supporting economic viability. However, it is a historical estimate.

- Positive factor: Good confidence reserve category \(Probable\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Good grade for lithium \(1.41% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.41

Context: 0.3

#### Tags used in scoring

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-29)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:7ba6149174cfe7fd5588
- Deposit or zone: Carlton

#### Resource Data

- Category: proven
- Tonnes: 1700000
- Grade: 1.19
- Grade Unit: %
- Contained Metal: 20
- Contained Unit: kt
- Cutoff Grade: 125
- Cutoff Unit: $/t NSR

#### Prior Estimate

- Resource Date: 2025-09-05

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-09-05T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Proven reserve for Carlton provides a high-confidence estimate with a strong lithium grade, supporting economic viability. However, it is a historical estimate.

- Positive factor: Highest confidence reserve category \(Proven\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(1.19% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.19

Context: 1.7

#### Tags used in scoring

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-30)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:9f307ced128c00f0908b
- Deposit or zone: Carlton

#### Resource Data

- Category: probable
- Tonnes: 2800000
- Grade: 1.19
- Grade Unit: %
- Contained Metal: 34
- Contained Unit: kt
- Cutoff Grade: 125
- Cutoff Unit: $/t NSR

#### Prior Estimate

- Resource Date: 2025-09-05

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-09-05T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Probable reserve for Carlton provides a good confidence estimate with a strong lithium grade, supporting economic viability. However, it is a historical estimate.

- Positive factor: Good confidence reserve category \(Probable\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(1.19% Li2O is strong\)

- Negative factor: Estimate is historical, not a new update

Evidence · table

> 1.19

Context: 2.8

#### Tags used in scoring

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/cxo-september-quarterly-report-presentation--a9d587e5-4817-49b4-b61a-9943cf5ad803#fact-resource-facts-31)

Finniss Lithium Operation · lithium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Finniss Lithium Operation
- Commodity: lithium
- Ticker: CXO

#### Resource scope

- Estimate type: reserve
- Reporting standards: jorc
- QP Signed: Yes
- Resource group id: resource:ab487e08685ce4b35cb7
- Deposit or zone: TSF/Stockpiles

#### Resource Data

- Category: probable
- Tonnes: 300000
- Grade: 0.68
- Grade Unit: %
- Contained Metal: 2
- Contained Unit: kt

#### Prior Estimate

- Resource Date: 2025-04-30

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-04-30T00:00:00.000Z

#### Dates

- Event date: 2026-10-13T00:00:00.000Z

Reasoning: This Probable reserve for TSF/Stockpiles provides a good confidence estimate with a weak lithium grade, supporting economic viability. However, it is a historical estimate.

- Positive factor: Good confidence reserve category \(Probable\)

- Positive factor: JORC compliant and QP signed

- Positive factor: Economic grade for lithium \(0.68% Li2O is weak\)

- Negative factor: Estimate is historical, not a new update

- Negative factor: Lower grade compared to other deposits

Evidence · table

> 0.68

Context: 0.3

#### Tags used in scoring

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.