- Robust Economics: Base case after-tax NPV5% of C$1,025 million with an after-tax IRR of 18.2% using a gold price assumption of US$2,450/ounce (“oz”). Using a spot gold price of US$3,300/oz gold, after-tax NPV5% increases to C$2,315 million and the after-tax IRR to 32.0%.
- Significant Production and Low Cost: 203,265 oz average annual gold production in the first 5 years at an all-in sustaining cost net of by-product credits (“AISC”) of US$1,024/oz and 122,041 oz average annual gold production over a 24.5-year LOM at an AISC of US$1,338/oz.
- Rapid Payback of Capital Expenditures: C$1,250 million initial capital paid back over 3.4 years at PEA base case and decreasing to 2.0 years at spot gold price of $3,300/oz gold.
- High Degree of Resource Confidence: Economic analysis is based on Measured and Indicated Resources sub-totalling 33.3% and 65.1% respectively or grand total of 98.4% but excludes potential upside opportunities from the 2025 drill results and MRE from the Phoenix deposit.
- Low Risk: Conventional open pit and milling operation with road access and hydro-electric power.
- New Innovative, De-risked Tailings Facility: Dry stack plus coarse free draining tailings, waste and water management facilities that are integrated and significantly reduce volume of tailings impacted runoff for treatment and discharge. The proposed tailings facility includes 100% reuse of process water, avoids discharge near the Cedar Point Provincial Park and minimizes the disturbance of fish bearing waters. The proposed tailings facility utilizes feedback obtained from the First Nations, nearby communities and industry to utilize best in class available environmental solutions that the Company anticipates will significantly reduce risks at closure and promote protection of the land and waterways to perpetuity.
- Significant Opportunities: Potential to further enhance Project economics and expand production rate have been identified with the addition of the maiden Phoenix deposit MRE, ongoing endowment potential extensions and preconcentration technologies such as mineralized material sorting to boost mill feed grade.
- Strong Discovery Growth Potential: Exploration diamond drill programs completed in 2024 and 2025 extended gold mineralization and intercepted higher-grade mineralization adjacent to Project infrastructure over a strike length in excess of 3 km.
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