Magna Mining CEO Jason Jessup joined Steve Darling from Proactive to share details the company announced the results of the 2022 Feasibility Study for the Shakespeare Nickel Project. Jessup telling Proactive the report includes a Pre-Tax NPV of $221 million, IRR of 27.2%, and a 3.4-year payback, and a Post-Tax NPV of $140 million, IRR of 21.5% and 3.5 year post-tax payback period based on metal prices of US$ 8.50/lb. nickel, US$ 3.95/lb. copper, US$ 24/lb. cobalt, US$ 950/oz platinum, US$ 1,750/oz palladium and US$ 1,600 gold and an exchange rate of 0.77 US$:CDN.
Jessup says the initial capital requirements of $232.9 million, including all mine pre-production costs, co-disposal area preparation and sustaining capital of $9.2 million Jessup also discusses a non-binding MOU with a Japanese company which could help with a path forward for production.