Project Key Facts
- 2.5 Mt per annum open pit iron ore project
- Prolific jurisdiction with rail & port infrastructure available
- 5-7 years of operation to capture upcycle of market recovery
- 2015 Feasibility Study Complete, with pre-tax NPV(8%) of C$130.8M at US$95/t Fe base case
- At US$142.50/t Fe, pre-tax NPV(8%) improves to C$888.8M
- Environmental study ready
Project Economics Summary
Project Economics – Iron Ore Price (62% Fe China) | ||||||
US$/t | $951 | $101.371 | $108.951 | $1251 | $142.501 | $167.832 |
Base case | 2019-20 Avg | 2020 Avg. | 150% of Base | Jan 2021 Avg. | ||
Pre-tax NPV(8%) | C$130.8M | C$232.4M | C$353.4M | C$609.5M | C$888.8M | C$1,293.0M |
Post-tax NPV(8%) | C$61.4M | C$125.6M | C$193.4M | C$335.2M | C$524.2M | C$766.2M |
Pre-tax/Post-tax IRR | 18.7% / 13.7% | 26.6% / 19.6% | 35.6% / 25.9% | 54.1% / 40.3% | 73.7% / 55.0% | 101.8% / 75.2% |
Pre-/Post-tax Payback (yrs) | 4.4 / 4.9 | 3.6 / 4.1 | 2.9 / 3.4 | 2.0 / 2.2 | 1.5 / 1.7 | 1.1 / 1.2 |
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Project Mineral Resources and Reserves
The mineral resources and mineral reserves are reported in accordance with Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definition standards for Mineral Resources, Mineral Reserves and their Guidelines, and are compliant with NI 43-101.
NI 43-101 Mineral Resource Estimate (Apr 17, 2014)1 | |||||
Cut-off 50% Fe2 | Tonnes3 | % Fe | % SiO2 | % Al2O3 | % Mn |
Measured (“M”) | 18,650,000 | 58.67 | 13.02 | 0.55 | 0.81 |
Indicated (“I”) | 5,640,000 | 58.14 | 14.39 | 0.51 | 0.54 |
M+I | 24,290,000 | 58.55 | 13.34 | 0.54 | 0.75 |
Inferred | 840,000 | 62.00 | 8.43 | 0.43 | 0.78 |
Mineral Reserves ( Apr 14, 2015)4 | |||||
Category | Tonnes | % Fe | % SiO2 | % Al2O3 | % Mn |
High Grade Proven (Above 55% Fe) | 11,630,000 | 61.35 | 9.16 | 0.54 | 0.84 |
Low Grade Proven (52% – 55% Fe) | 2,890,000 | 53.31 | 20.70 | 0.60 | 0.70 |
High Grade Probable (Above 55% Fe) | 2,450,000 | 61.50 | 9.48 | 0.50 | 0.61 |
Low Grade Probable (52% – 55% Fe) | 750,000 | 53.09 | 21.90 | 0.59 | 0.30 |
Total Reserve (Above 52% Fe) | 17,720,000 | 59.71 | 11.62 | 0.55 | 0.76 |
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Project Video – Quick Facts
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Click here to watch a quick-fact video on the Joyce DSO project video by CEO Sandy Chim. (opens in a new window) |