Champion Iron Mines Limited (TSX:CHM) announced results from the Preliminary Feasibility Study conducted at the West and East deposit of the Consolidated Fire Lake North Project. Based on an initial 20-year mine life, the study produced a Net Present Value of $3.295 billion using an 8% discount rate and a financial model with an Internal Rate of Return at 30.9%.
Summary of Preliminary Feasibility Study Results
Champion’s President and CEO, Tom Larsen stated:
Completion of this Preliminary Feasibility Study is the result of our team’s dedicated efforts over the past couple of years and we believe the results confirm the excellent project at our Consolidated Fire Lake North property. The delivery of the Preliminary Feasibility Study is another major milestone for Champion. Our progress in securing port access and material handling capacity at Sept-Îles, advanced negotiations for electric power to the project and permits to start the mine construction camp has resulted in material de-risking of the Fire Lake North Project.