A feasibility study from
Generation Mining (TSX: GENM) on its 80%-held Marathon palladium-copper project in northwestern Ontario suggests a 25,200 t/d open pit operation producing a copper-PGM (platinum group metal) concentrate for sale to an off-site smelter.
In its first three years of operation, the 13-year surface mine would generate a total of 588,000 palladium oz. and 122 million lb. of copper from an estimated 270,000 tonnes of shipped concentrate. Life-of-mine payable metals are estimated at 1.9 million palladium oz., 467 million copper lb., 537,000 oz. of platinum, 151,000 oz. of gold and 2.8 million oz. of silver.
With all-in sustaining costs pegged at US$809 per palladium-equivalent oz., and an initial capital cost assumption of $665 million, the after-tax net present value for the development is estimated at $1.1 billion with a 29.7% internal rate of return and a 2.3-year payback. These numbers are based on a 6% discount rate for the NPV and long-term metal prices tha
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Pd eq grade is calculated based on: (Pd US$1,725/31.10348 x Pd grade g/t +Cu US$3.20/2204.6 x Cu grade %/100+Au US$1,400/31.10348 x Au grade g/t+ Pt US$1,000/31.10348 x Pt grade g/t+Ag US$20/31.10348 x Ag grade g/t))/ (Pd US$1,725/31.10348)
Jamie Levy, President and CEO of Gen Mining commented, “This study confirms that the Marathon Palladium and Copper Project is a substantial mining project that is expected to provide a very robust return on investment. We expect the palladium supply in particular to remain in deficit for the foreseeable future as Europe, China and other regions roll out tougher emissions standards. We are excited about the opportunity to create jobs and economic stimulus to Canada, Ontario and to the communities surrounding Marathon.”
Breaking Mining Stock News: Fortune Bay (TSXV: $FOR.V) Commences Mobilization For Phase One Drilling At Goldfields Project
HALIFAX, NS - February 26, 2021 (Investorideas.com Newswire and Miningsectorstocks.com report) Fortune Bay Corp. (TSXV:FOR, Frankfurt: 5QN) ( Fortune Bay or the Company ) is pleased to announce that it has received a drilling permit for its Goldfields Project ( Goldfields or the Project ) located in northern Saskatchewan (see Figure 1). The Company has commenced mobilization for a Phase 1 drilling program.
Highlights of the Planned Phase 1 Drill Program:
Approximately 5,000 metres of core drilling is planned in 15 holes.
Drilling will be focused on expanding the mineral resources at the Box and Athona deposits through step-out drilling from high gold grades which remain open.
Building a mine in British Columbia: hurry up and wait
Mountain view at Eskay Creek. Image by Skeena Resources.
So, you want to spend hundreds of millions of dollars – possibly billions building a new copper mine in British Columbia.
First, you may have to spend a few million dollars explaining your plan to relevant First Nations and local communities before you even submit an application for an environmental permit.
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That way you’ll know up front whether the province will even accept your application to the Environmental Assessment Agency. Your project may be dead before it is even subjected to an environmental review.
That way you’ll know up front whether the province will even accept your application to the Environmental Assessment Agency. Your project may be dead before it is even subjected to an environmental review. Be sure to read UNDRIP (United Nations Declaration on the Rights of Indigenous People) and DRIPA (Declaration on the Rights of Indigenous Peoples Act). Once you’ve done that, and submitted your application, you will, at some point, probably need to deal with the ministries of ECCS, EMLCI, IRR, and FLNRORD. That’s just the provincial level. Federally you will probably have to deal with Fisheries and Oceans Canada and the Impact Assessment Agency.