Business
Niobay Metals Files Positive James Bay Niobium PEA
MONTREAL, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Niobay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) announces that further to its news release dated October
About this update from Niobay Metals Inc.
[{"type":"text","content":" MONTREAL, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Niobay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) announces that further to its news release dated October 13th “James Bay Niobium PEA Delivers and After-tax NPV(8%) of $1.0 billion and IRR of 27.5%”, it has today filed the associated National Instrument 43-101 (“NI 43-101”) technical report for its wholly-owned James Bay Niobium project (the “Project”), located 40 km south of the island of Moose Factory, Northern Ontario. The report, entitled “Preliminary Economic Assessment, NI-43-101 Technical Report, James Bay Niobium Project, Ontario, Canada” (the “Report”) is dated effective October 13, 2020. The PEA was prepared with independent engineering firm G Mining Services Inc. (“G Mining”). A summary of key highlights are listed in Table 1 A copy of the Report can be found at www.sedar.com Because of the geometry and location of the deposit, three mining scenarios were evaluated i.e. open pit (scenario #1), underground (scenario #3) and a hybrid of both mining methods (scenario #2). Table 1: PEA Highlights (all figures in CAD$ unless otherwise noted) Open Pit Open Pit + UG Underground Pre-Tax Internal Rate of Return (IRR) 33.6% 33.4% 26.0% Pre-Tax Net Present Value (NPV) 8% $1,475 M $1,268 M $1,104 M Pre-Tax Payback (years) 2.6 years 2.5 years 3.8 years After-Tax Internal Rate of Return (IRR) 27.5% 27.0% 21.6% After-Tax Net Present Value (NPV) 8% $1,008 M $856 M $733 M After-Tax Payback (years) 3.2 years 3.1 years 4.3 years Pre-Production CAPEX (incl 25% Contingency) $510.5 M $482.0 M $579 M Average Annual LOM Niobium Production 5,470 t Nb 6,213 t Nb 6,283 t Nb Mine Life 30 years 23 years 23 years Total Mineral Resources Mined 70.8 Mt 53.7 Mt 53.6 Mt Average Grade Mined 0.44 % Nb2O5 0.51 % Nb2O5 0.51 % Nb2O5 Gross Revenue After Royalties (LOM) $9,264 M $8,360 $8,454 After-tax Operating Cash Flow (LOM) $3,581 M $2,696 M $2,536 M C1 Costs over LOM* US$16.10 / kg Nb US$18.45 / kg Nb US$19.11 / kg Nb $48.48/t $63.85/t $66.94 All-in Costs (sustaining CAPEX + Closure + OPEX) US$17.58/kg Nb US$20.52 / kg Nb US$21.43 / kg Nb $52.93 / t $70.98 / t $75.08 / t LOM Niobium Price US$45/kg Nb US$45/kg Nb US$45/kg Nb Exchange Rate (CAD/USD) 1.30 1.30 1.30 *C1 Cost is mine site, tra...