Global Lithium Resources (ASX:GL1) said an integration study confirmed a "significantly enhanced and accelerated" development pathway for its Manna lithium project in Western Australia through a conversion of the acquired Nova processing facility, according to a Wednesday filing with the Australian bourse.
The study delivered a post-tax net present value for Manna of AU$946 million, doubling the AU$472 million figure disclosed as part of the project's December 2025 definitive feasibility study.
It also provided a post-tax internal rate of return of 120%, compared with about 26% in the definitive feasibility study, while reducing the payback period to 11 months from the start of production from 3.5 years in the feasibility study, per the filing.
Other changes include the required pre-production funding falling to AU$180.1 million from AU$439.1 million, and the probable ore reserve increasing 8% to 21 million tonnes at 0.9% lithium oxide from 19.4 million tonnes at 0.9% lithium oxide.
The Nova plant acquisition removes the requirement to construct a greenfield concentrator and associated infrastructure at Manna, which was the single largest capital item in the project's definitive feasibility study, the company said.
A final investment decision for Manna is on track for the December quarter.
Global Lithium Resources shares fell nearly 1% in recent Wednesday trade.