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.