Augyva Mining Announces Positive PEA for Duncan Lake Iron Project

Augyva Mining Resources Inc. (TSXV:AUV) announced that Met-Chem Canada Inc. has submitted the Preliminary Economic Assessment( PEA) results for the Duncan Lake Iron Project (35% company owned) which showed a net present value of $4.1B.

As quoted in the press release:

DUNCAN LAKE PROJECT PEA KEY ESTIMATED RESULTS BASED ON 100% OWNERSHIP OF THE PROJECT:

• Net Present Value (“NPV”) of $4.1 billion (pre-tax) at 8% discount;
• Internal Rate of Return (“IRR”) of 20.1% (pre-tax);
• Payback 4.2 years
• Mine life 20 years at 12 million tonnes per year (“Mtpy”) pellet production
• Initial project capital $3.8 billion
• Average site operating cost $59.17/tonne of pellet
• Accuracy of the estimate +/- 35%

Click here to read the full Augyva Mining Resources Inc. (TSXV:AUV) press release.