Preliminary Economic Assessment on Moonlight-Superior Project
In January 2025, the Company announced the results of the Preliminary Economic Assessment (PEA) completed by Global Resource Engineering Ltd., on the Moonlight-Superior Copper Project. Highlights were as follows:
Moonlight Deposit PEA Summary2 (Dollars in USD):
| Est. Average Mill Feed Grade (LOM) | 0.31% Cu |
| LOM | 14 years |
| Production Rate | 60,000 st/d |
| Metallurgical Copper Recovery | 90% |
| Metallurgical Silver Recovery | 80% |
| Initial Capital Costs | $956 M |
| Operating Cost | $7.50 /st |
| Copper Price | $4.15 /lb |
| Silver Price | $27.40 /oz |
| All-in Sustaining Cost/lb/Cu | $2.51/lb |
| Life of Mine Cu Production | 1.8 Bill/lbs |
| Post-tax IRR | 23.0% |
| Post-tax NPV (8%) | $1.075 B |
- 1. “Technical Report and Preliminary Economic Assessment for the MoonlightSuperior Project, California, USA” by Global Resource Engineering Ltd. dated December 16, 2024 available on SEDAR. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
