Hudson Announces Positive PEA at Sarfartoq, Greenland

Hudson Resources Inc. (TSXV:HUD,OTCQX:HUDRF) announced the results of a Preliminary Economic Assessment at its Greenland-based Sarfartoq rare earth project.

As quoted in the press release:

Highlights of the Study include:

• Net Present Value of $616M at a 10% discount rate, pre-tax
• Internal rate of return (IRR) of 31.2% and a 2.7 year payback with a 21 year mine life
• Capital costs of $343 million which includes a contingency of $60M, for a 2,000 tonne per day open-pit mine and processing facility

We are very pleased with the results of the PEA which demonstrate the robust economics of the project. Having the project located adjacent to tidewater provides significant economic benefits in both capital and operating costs.