FireFly Metals outlines A$2.2 billion NPV for Green Bay project

FireFly Metals has released a preliminary economic assessment for its Green Bay copper-gold project in Newfoundland and Labrador, Canada. The study outlines a 32-year underground mine with a base case post-tax net present value (NPV) of A$2.2 billion.

Under the base case scenario, the operation would produce 1.8 million tonnes of ore annually, yielding approximately 50,000 tonnes of copper equivalent per year. The assessment assumes copper prices of US$5.00 per pound and gold at US$3,500 per ounce. The project features an internal rate of return of 42% and a payback period of less than two years. Total construction costs are estimated at A$513 million after Canadian tax credits, with an additional A$876 million in sustaining capital required over the mine life.

An alternative high-capacity model was also presented, suggesting a 4.6 Mtpa production rate could increase the NPV to A$3.0 billion. Managing Director Steve Parsons described the site as one of the best undeveloped copper projects globally.

In conjunction with these findings, FireFly Metals leadership will host a live investor presentation on August 25, 2026, to discuss the economic assessment, mineral resource estimate updates, and the company’s current capital raising efforts.