Giga Metals announces positive pre-feasibility study on Turnagain Project in British Columbia

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[{"type":"text","content":"Giga Metals announces positive pre-feasibility study on Turnagain Project in British Columbia\n \n \n (NewsDirect)\n \n \n \n \n Giga Metals CEO Mark Jarvis joined Steve\nDarling from Proactive to discuss the company's significant\nmilestone — the release of a positive pre-feasibility study (PFS) on\nthe Turnagain Project in British Columbia.\n \n \n The Turnagain Project is a joint venture between Giga Metals and\nMitsubishi Corporation.\n \n \n Jarvis\nelaborated on the key findings of the PFS, which revealed an extended\nmine life for the Turnagain Project. This extension results in an\nannual production average of 37,288 tonnes of nickel and cobalt in\nconcentrate.\n \n \n The project boasts a\n30-year operational span with an exceptionally low waste-to-ore strip\nratio of 0.4 tonnes of waste per tonne of ore. Additionally, Turnagain\nexhibits a pre-tax internal rate of return (IRR) of 11.1% and a net\npresent value (NPV) of $717 million (calculated at a 7% discount\nrate). It also maintains a post-tax IRR of 11.4% and a post-tax NPV of\n$574 million.\n \n \n These calculations\nare based on a long-term nickel price of $9.75 per pound and assume\n78% payability for nickel in concentrate. The nickel concentrate\nderived from Turnagain boasts an average composition of 18% nickel and\n1.1% cobalt, with minimal impurities.\n \n \n The project is designed to operate with a strong emphasis on\nenvironmental responsibility, as indicated by its Scope 1+2 carbon\nintensity, which is less than 1.8 tonnes of CO2 emissions per tonne of\nnickel in concentrate.\n \n \n Giga\nMetals' objective is to position Turnagain as a dependable source\nof high-grade, top-quality concentrate, following the successful\nmodels of other nickel companies that have operated successfully for\ndecades.\n \n \n The positive outcomes of the PFS highlight the\nproject's potential to make a substantial contribution to the\nnickel and cobalt supply chains, particularly in light of the growing\ndemand for these metals in electric vehicle batteries and renewable\nenergy technologies.\n \n \n \n Contact Details\n \n \n \n Proactive\nInvestors\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":2809,"tagName":"div"}]

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