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    Century Iron Announces Positive PEA for Joyce Lake Project

    Investing News Network
    Mar. 25, 2013 05:16PM PST
    Base Metals Investing

    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.

    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%

    Click here to read the full Century Iron Mines Corporation (TSX:FER) press release.

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