PMET Resources' updated CV5 feasibility study improves project economics through tantalum integration and high-grade underground mining, targeting a late 2027 final investment decision.
The updated CV5 feasibility study shows materially better project economics than the prior lithium-only study: 19% lower cash operating cost at CA$594/t, an after-tax NPV8 of ~CA$5.10B and IRR of ~40.4% at US$1,788/t spodumene, plus a new tantalum credit, with initial CAPEX unchanged. Hard quantified improvements that de-risk the path to a Final Investment Decision targeted for late 2027. The gain depends on the still-assumed spodumene price, and near-consensus pricing of ~US$1,400/t cuts the NPV to ~CA$3.29B.
PMET Resources released an updated feasibility study for its Shaakichiuwaanaan project, featuring a hybrid mining model that incorporates tantalum recovery. The project now targets an after-tax NPV of CA$5.10B and an IRR of 40.4%, supported by a 19% reduction in life-of-mine cash operating costs to CA$594/t. The company is aiming for a final investment decision by late 2027, with plant commissioning expected in the latter part of 2029.
The study shows lower costs than the earlier plan (19% lower cash operating cost at CA$594/t), a new tantalum by-product credit, and an after-tax NPV of ~CA$5.10B with an IRR of ~40.4%, while initial CAPEX stayed similar despite added tantalum scope — all hard improvements to project economics ahead of a Final Investment Decision targeted for late 2027.
The headline NPV relies on a US$1,788/t long-term spodumene price; at near broker consensus pricing of ~US$1,400/t the NPV drops to ~CA$3.29B, and commissioning is only targeted from the latter part of 2029.