Pivotal Metals and TG Metals announce new mining project studies

Pivotal Metals has released a maiden scoping study for its Horden Lake copper project in Québec, Canada. The study outlines a 10-year operation with a projected post-tax net present value (NPV7) of A$920 million and an internal rate of return (IRR) of 49%. The project is expected to produce 247,000 tonnes of copper equivalent with an all-in sustaining cost of US$1.00 per pound. Capital expenditure for the project is estimated at A$411 million.

Separately, TG Metals has modeled a low-cost heap-leach gold production plan for its Van Uden project in Australia. The proposed 250,000 tonnes per annum operation targets the recovery of approximately 13,630 ounces of gold over an initial three-year mine life. The plan requires A$14.2 million in pre-production capital and forecasts a pre-tax IRR of 121.7% based on a gold price of US$4,400 per ounce.