Century Iron Mines Corporation (TSX:FER) announced the positive results of its Preliminary Economic Assessment of the Joyce Lake DSO Project prepared by Cima+ in Quebec.
As quoted in the press release:
JOYCE LAKE PEA HIGHLIGHTS BASED ON 100% OWNERSHIP OF THE PROJECT:
- Net Present Value (“NPV”) of $94.5 M (pre-tax) at 8% discount rate
- Internal Rate of Return (“IRR”) of 35% (pre-tax)
- Pre-tax Payback estimated at 2.9 years (years from production start-up)
- Mine life 4 years at 2 million tonnes per year (“Mtpy”) of lump and sinter fines
- Initial Project Capex of $96.6 M
- Average total operating cost of $62.80/tonne of product (lump and sinter fines)
- Accuracy of the estimate +/- 35%
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