TMASF - TMAS PEA $TMASF Info for those of you needing the facts of the PEA:
Preliminary Economic Assessment ("PEA") on SEDAR+ for the wholly-owned La Blache Ti-V-Fe Project located in the Cote Nord region of Quebec (the "Project").
Material changes occurred to the Project economics between February 7, 2024, the date the news release first announcing the PEA, and today, the date the PEA was finalized and posted on SEDAR+. A summary of the material changes to the primary project economic indicators are presented in the table below. The full PEA report on SEDAR+ presents complete descriptions and lists of all assumptions used. Primary La Blache Project Economic Indicators Press Release PEA Parameter Units Value Value Pre-Tax Project Cash Flow CAD $ Billion 21.8 / 20.2 Pre-Tax IRR % 64.8 / 70.8 Pre-Tax Net Present Value (NPV8) CAD $ Billion 9.5 / 9.0 Post-Tax Project Cash Flow CAD $ Billion 15.9 / 14.9 Post-Tax IRR% 55.1 / 60.8 Post-Tax Net Present Value (NPV8) CAD $ Billion 6.8 / .6
Tim Fernback, President of Temas comments, "We are extremely pleased with the strong economics presented in this PEA on the La Blache Titanium-Vanadium-Iron Project in Quebec. Titanium has been trading well above our assumptions of USD $2,200 per tonne for over three years and at over USD $3,000 per tonne since August 2022. We believe this trend will continue due to the increasing demand for TiO2, major global supply coming to end of life, and lack of both brownfield expansion and new projects coming online in North America. The PEA further increases our confidence in the Project and showcases our proprietary, environmentally friendly extraction technology. With a current market cap of CAD $5M, I am excited to engage with all our stakeholders to unlock the value of this highly robust Project as we advance the asset forward."
Summary of Preliminary Economic Assessment
The PEA report posted to SEDAR+ was prepared independently by ERM, under the supervision of QP Garth Liukko, P.Eng. (PEO); and the mineral resource estimate was prepared under the supervision of Jacques Dumouchel, P.Geo (OGQ).
The PEA was prepared in accordance with the requirements of National Instrument 43-101 and is based on the Mineral Resource Estimate for La Blache with an effective date of March 27, 2024.
Cautionary Note
The PEA summarized in this news release is considered preliminary in nature, contains numerous assumptions and includes Inferred Mineral Resources that are considered too speculative, geologically, to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the results of the PEA will be realized. No Mineral Reserves have been estimated for La Blache. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Inferred Mineral Resources are that part of the Mineral Resource for which quantity and grade, or quality are estimated based on limited geologic evidence and sampling, which is sufficient to imply but not verify grade or quality continuity. Inferred Mineral Resources may not be converted to mineral reserves. It is reasonably expected, though not guaranteed, that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. Mineral Resources are captured within an optimized mine plan (within the constraints of a PEA) and meet the test of reasonable prospects for economic extraction.
The effective date of the PEA technical report prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") is March 27, 2024.
Qualified Persons
Garth Liukko, P. Eng is a Qualified Person as defined by NI 43-101, he is independent and has reviewed the technical information of the PEA that forms the basis for this news release and has approved the disclosure herein.
Jacques Dumouchel, P. Geo registered with the OGQ, is the Qualified Person as defined by NI 43-101 for the Mineral Resource Estimate and is independent of the Company. He has reviewed the technical information that forms the basis for this news release and has approved the disclosure herein.
Rory Kutluoglu, P. Geo is a Qualified Person as defined by NI 43-101 and has reviewed and approved the technical information contained within this press release.
On behalf of the Board of Directors,
Tim Fernback, President & CEO
About Temas Resources
Temas Resources Corp. (CSE:TMAS)(OTCQB:TMASF) is focused on the advanced La Blache and Lac Brule Iron-Titanium-Vanadium projects in Quebec. The critical metals the Company is exploring for are key to our national mineral independence. Additionally, the Company invests in and works to apply its green mineral recovery technologies across its mining portfolio to reduce the environmental impact and carbon footprint of metal extraction through advanced processing and patented leaching technologies.
All public filings for the Company can be found on the SEDAR+ website www.sedarplus.ca. For more information about the Company, please visit www.temasresources.com.