Business
Benton Advised that Clean Air Metals Announces a PEA of the Current and Escape PGE-Cu-Ni Deposits of the Thunder Bay North Project, with Post-Tax NPV(5) of C$378m, IRR 29.8%
Thunder Bay, Ontario--(Newsfile Corp. - December 1, 2021) - Benton Resources Inc. (TSXV: BEX) ...
About this update from Benton Resources, Inc.
[{"type":"text","content":"Benton Advised that Clean Air Metals Announces a PEA of the Current and Escape PGE-Cu-Ni Deposits of the Thunder Bay North Project, with Post-Tax NPV(5) of C$378m, IRR 29.8%Thunder Bay, Ontario--(Newsfile Corp. - December 1, 2021) - Benton Resources Inc. (TSXV: BEX) (\"Benton\") is pleased to announce it has been advised that Clean Air Metals Inc. (\"Clean Air\") has announced results from an independent Preliminary Economic Assessment (PEA) that was completed for its Thunder Bay North Platinum Group Element (PGE) - Copper (Cu) - Nickel (Ni) Project near Thunder Bay, Ontario, Canada. The PEA was prepared by Nordmin Engineering Ltd. (\"Nordmin\") of Thunder Bay, Ontario, and includes provision for a stand-alone milling complex and waste storage facility to process mill feed from both the Current deposit and the Escape deposit, part of the Thunder Bay North Project Mineral Resource Estimate.PEA highlights include:The Project has a pre-tax net present value (NPV) of $425.0 million, and after-tax NPV of $378.4 million, at a 5% discount rate. The pre-tax internal rate of return (IRR) is 31.1%, and the after-tax IRR is 29.8%. The capital payback is 2.4 years from start of production. Revenue's average $239.8 million per year from sale of PGE and Copper mineral concentrates. Total mined metal production over a 10-year mine life based on the present resource base is expected to be 629 k oz Platinum, 618 k oz Palladium, 111 M pounds Copper, 57 M pounds Nickel, 38 k oz Gold, 850 k oz Silver, or 2,886 k oz PtEq. 65.2% of total mineral production occurs in the first 5 years. Operating margin of 59% in the first 5 years and Life-of-Mine Operating margin of 53%. The Project is located in close proximity to key infrastructure near the City of Thunder Bay, Canada. Base case economics were calculated using a 2-yr trailing average metal price deck. Readers are advised that Clean Air has not made a production decision at the Thunder Bay North Project and there is no guarantee that a production decision will be made or that the production rates at the Thunder Bay North Project will be achieved. There are currently no Mineral Reserves for the Thunder Bay North Project. The information reported in the PEA for the Project is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have economic ...