Meridian Mining stock surged 10% as a new feasibility study for the Cabaçal project confirmed a $2.09 billion net present value and a 108% internal rate of return, bolstering investor confidence in the company's Brazilian mining operations.
Shares rose 10% following a definitive feasibility study valuing the Cabaçal project at over $2 billion with strong IRR and cash flow metrics.
Meridian Mining shares climbed 10% to 109p after a definitive feasibility study valued its Cabaçal gold-copper-silver project in Brazil at $2.09 billion. The study highlights a robust 108% internal rate of return and a rapid 0.9-year payback period, signaling strong project economics for the Mato Grosso-based asset.
The definitive feasibility study outlines a 13.9-year mine life for the Cabaçal gold-copper-silver project.
The study uses a conservative gold price of $3,570 per ounce; at current spot prices, the net present value increases to $2.9 billion with an internal rate of return of 135%.