Announcement Date: 2022-07-28
Announcement Type: PEA
Announcement Code: NI43-101
Company name: Imperial Mining Group Ltd.
Project name: Crater Lake
Location: Canada
Commodities: Scandium,Rare Earth
Highlight: PEA results incl. post-tax NPV (10%) of C$1,721M & IRR of 32.8%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: MONTREAL, QUEBEC – June 13, 2022 – Imperial Mining Group Ltd. (“Imperial”) (TSX VENTURE: IPG; OTCQB: IMPNF) is pleased to announce that it has received results of a positive Preliminary Economic Assessment (PEA) for the Crater Lake TG Zone Scandium-Rare Earth Element (ScREE) deposit from Imperial’s independent consultants, WSP Canada (“WSP”). The results show positive cash-flow, strong Internal Rate of Return (IRR) and Net Present Value (NPV) metrics at discount rates of up to 15% for a potential mining operation at the Crater Lake, Quebec (Table 1). The Crater Lake property is in northeastern Québec, approximately 200 km east northeast of Schefferville, Québec (Figure 1). The WSP study utilizes an open-pit mining operation model and a scandium price deemed conservative, below the 2021 USGS trailing five-year average price. Accepted consensus is that REE prices have increased significantly since September 2021 and have been discounted by 70% for the purposes of this study as REE will be delivered to a processor on a tolling basis for the magnet rare earths only. The commodity prices for this study and the assumptions used for the financial model are listed in Table 3. For this study, the total tonnes of concentrate produced
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