PFS30 Jun 2026 07:10
The Study results indicate that utilizing a conventional open-pit mining method and base case tungsten pricing*, the Project is planned to produce 15,916 tonnes of WO3 over an 8-year mine life, generating after-tax free cash flow of US$1.058 billion, with a capital payback period of 1 year from first commercial production. On an after-tax basis at base case tungsten pricing*, this translates to a net present value ("NPV8") of US$660.3 million at an 8% discount rate and an internal rate of return ("IRR") of 59.6%. At the 12 June 2026 tungsten spot price, the Project would generate after-tax free cash flow of US$2.088 billion, with an IRR of 101.6%, an NPV8 of US$1.366 billion and a capital payback of 6 months from first commercial production.