Clean Air Metals CEO Abraham Drost joined Steve Darling from Proactive to share news the company has released a Preliminary Economic Assessment that was completed on the Current and Escape deposits at the company's Thunder Bay North copper-nickel project.
Drost telling Proactive the numbers were very good showing an after-tax net present value of C$378.4 million, using a 5% discount rate, as well as an after-tax internal rate of return of 29.8%. The PEA also estimates the project will generate average annual revenue of C$239.8 million per year from the sale of PGE and copper mineral concentrates over a 10-year mine life. Drost also says the PEA estimates an initial CAPEX of C$367.2 million with an estimated capital payback of 2.4 years from the start of production.