Matamec Releases Feasibility Study for Kipawa

Matamec Explorations (TSX:MAT) has published a feasibility study on its Kipawa joint venture with Toyota Tsusho Corp (TYO:8015), indicating that the project is technically and economically feasible.

The study shows a pre-tax net present value of $260 million with a 21.6 percent internal rate of return, paid back over 3.9 years.

As quoted by the press release:

 “The Company has strategically developed a solid business plan which includes a moderate CAPEX and a manageable scale of annual tonnage while ensuring the required environmental standards are met,” said Andre Gauthier, President and CEO of Matamec. “With the completion of the feasibility study results, we will continue to work with the citizens of the Temiscamingue area to present the economic benefits this project will create for the region.”

Click here for the full press release by Matamec Explorations (TSX:MAT)