Fireweed files a PEA with a pre-tax IRR of 32%
Company stock was largely unchanged at $2.01 a share. The 52-week high is $2.12 and the low is 67 cents.
The pre-production capital expenditure is $404M, which includes $105 million of capital cost required to upgrade the government-owned North Canol Road.
Study highlights were the following:
- 18-year mine life with 32.7Mt of mineralization mined at 4,900 tonne-per-day average processing rate.
- 1.54Mt of Zinc, 0.88Mt of Lead, and 37Moz of Silver in concentrate shipped.
- Average yearly contained-metal production of 85kt Zinc, 48kt Lead and 2Moz Silver.
Metal prices used for the study were $1.21/lb Zn, $0.98/lb Pb, and $16.80/oz Ag
“This first NI43-101-compliant PEA on the Macmillan Pass Project represents a significant step for the Company as we progress the Project towards production. Project economics in the PEA demonstrate that Macmillan Pass is not just viable at the zinc, lead and silver prices levels contemplated in the study, but highly robust,” commented Brandon Macdonald, Chief Executive Officer, in a news release.
“With consideration of the exploration upside not just at the known zones, but also within the broader land package, the Project is steadily shaping up to be a premiere district-scale zinc mining camp in the mining-friendly Yukon Territory.”