WHY ,being reactivatedApplied for Permit Feb 14, 2019 with two government reviews completed and final review in process. Shovel ready opportunity in a World Class advanced magnesium mine. Considered as one of the 35 strategic / critical minerals for the US economic and national security with an Executive order to stockpile. Record Ridge has robust economics based on KPM PFS-1 Study, showing economics after tax NPV 5% of C$742 million and an IRR of 30%.
Conventional open pit mining operation with potential 100 years mine life that can produce High purity (over 99%) MgO and Mg(OH)2 products with Ni and Silica saleable by products. Global annual market for all magnesium products exceeding 29M tonnes with High purity magnesium oxide growing globally with CAGR projections ranging from 6% -12% in the next 10 years. Demand for multiple verticals including Metals ingots, EV batteries, food and pharma, agriculture, tech, infrastructure, etc. Using a proprietary process producing premium (>99%) MgO and Mg(OH)2 products with Nickel and silica by products while this green process has no waste and little to no emissions striving for a net zero carbon footprint. Excellent Infrastructure in place, located near Rossland, BC (one of the best mining jurisdictions in the world) with established roads and highways, electrical power, water and natural gas with Local labor and support services in proximity. This project has exceptional upside given its degree of de-risk relative to proven resource base.
The convergence of opportunity, advanced stage of this project, and the demand for green solutions make this project the most undervalued green project available today!