Century Global Commodities considering spinning out flagship Joyce Lake Project

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[{"type":"text","content":"Century Global Commodities considering spinning out flagship Joyce Lake Project\n \n \n (NewsDirect)\n \n \n \n \n Century Global Commodities (TSX:CNT) CEO\nSandy Chim speaks to Thomas Warner from Proactive after publishing its\nQ1 Financial Results as well as an update on how the business\nperformed more generally during the three months to 30 June.\n \n \n Chim highlights the headway made recently\nwith its flagship Joyce Lake iron ore project in Canada - a project he\ndescribes as being now firmly \"on the front burner\" after a\nlong period of slow progress. He says that having weathered market\ndownturns, the project now has a new lease of life due to a robust\nrecovery in the iron ore sector.\n \n \n With a recent feasibility study displaying a solid $185 million\nNPV after tax and a 20% IRR, he suggests the focus is on advancing the\nproject through technical and environmental assessments for\nconstruction. Regulatory agencies and local stakeholders have provided\ncomprehensive feedback on the Environmental Impact Statement, marking\na significant milestone.\n \n \n Additionally, Chim says that Century Global Commodities is\nseriously considering spinning-off the Project, targeting the end of\nthe year or early 2024. He concludes with an update on the highly\nrevenue-generative food sector of the business, which he says has been\ngrowing well despite challenging market conditions.\n \n \n \n Contact\nDetails\n \n \n \n Proactive Canada\n \n \n +1 604-688-8158\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All rights reserved.\n \n \n","length":2020,"tagName":"div"}]

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