Pebble Mine - The Largest Undeveloped Copper Gold ResourceThe Pebble Mine project is the world’s largest undeveloped copper-gold-molybdenum-silver-rhenium resource. The updated 2021 Pebble Mine Preliminary Economic Assessment (PEA) is based on 59,000 assays obtained from 699 drill holes. Key points taken directly from the PEA for measured and indicated resources include:
- “Life-of-mine (“LOM”) metal production for this scenario: 6.4 billion lb copper; 7.4 million oz gold; 300 million lb molybdenum; 37 million oz silver; and 230,000 kg rhenium
- Average annual metal production: 320 million lb copper; 368,000 oz gold; 15 million lb molybdenum; 1.8 million oz silver and 12,000 kg rhenium “
- Average co-product C1 Copper Cost of $1.65/lb CuEq and Gold Cash Cost of $753/oz AuEq; average by-product C1 Copper Cost of $0.69/lb and Gold Cash Cost of ($1,148)/oz
- Average annual Net Smelter Return (“NSR”) of $1.6 billion and LOM NSR of $32 billion
These estimates do not include an additional 25 billion lb of copper and associated metals in the inferred resource category. A full feasibility study would be likely performed once a final plan is approved. The expense of a feasibility study is difficult to justify at this time given current permitting uncertainties. The increase in metal prices since 2021 ($1700/oz gold; $3.90/lb copper values used in the PEA) further improves the economics of the project. The full PEA is available at the following link:
https://northerndynastyminerals.com/site/assets/files/4984/pebble_project_ni_43-101_technical_report_update_on_pea.pdf