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Grid Metals Corp V.GRDM

Alternate Symbol(s):  MSMGF

Grid Metals Corp. is focused on both lithium and copper/nickel projects in the Bird River area, about 150 kilometers (km) northeast of Winnipeg, Manitoba. The Donner lithium project is a 75% owned property subject to a joint venture agreement. The MM copper/nickel project is a resource-stage project that is undergoing exploration and development work. All the Company’s southeastern Manitoba projects are located on the traditional lands of the Sagkeeng First Nation, with whom the Company maintains an exploration agreement. The Donner project is located about 145 km northeast of Winnipeg, Manitoba. Its Falcon West Lithium Property is located within the West Hawk Lake Greenstone Belt of southeastern Manitoba. The MM Project includes a copper-rich (Mayville) and a nickel-rich (Makwa) disseminated magmatic sulfide deposit along with three additional near-surface deposits (Page, Ore Fault, and New Manitoba). Its other projects include East Bull Lake palladium project, and Mayville PGE Zone.


TSXV:GRDM - Post by User

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  • Mookster3X
Post by Mookster3on Sep 10, 2023 6:21am
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Post# 35628094

Grid compared to Snow Lake Lithium

Grid compared to Snow Lake Lithium    Snow Lake recently published a preliminary economic assessment for their proposed lithium mine in northern Manitoba and 266p report is available on their website. The Snow Lake and Donner ore bodies are virtually the same (see below), consisting of subvertical pegmatite dykes, a few meters in thickness, that will see mostly underground mining. However, Donner is already road accessible and processing will occur at existing mills, so capital costs should be much less (see below) and timeframe for development should be shorter. Cost below for upgrading the True North mill ($10mm) is only a guess, but more detailed info should be available from Primero Engineering next month.
  
    Donner  Snow Lake
     
Tonnes (mm)  6.8 (2.1 open pit) 8.2 (0.6 open pit)
  Grade % Li2O    1.39   1.1
   Li2O (mm kg)  95,000 90,000
     
Initial Capital Costs (US$ mm)
Pre-production1   19 19
Mining fleet1   32 32
Ore sorting1    7   7
Mill   172 42
Road1    1   1
Power line   nil 18
Bridges   nil 15
     
Closure Costs   10 10
     
Total capital costs (mm $US)  $86 $146
     
Operating Costs    
   $/t mined1   33   33
   Ore sorting ($/t mined)1     2    2
 Mill processing ($/t milled)   23.53  16
  Transport ($/t milled)   304  15
   Admin ($/t milled)1     2    2
             Total (US$/t milled)   90.5  68
Revenue    
Li2O @6 % (US $/t)   $3500 $3500
Gross $/t milled @80% recov    $649   $513
   Net $/t milled @80% recov    $559   $445
  Milling rate t/d        ?   2500
Revenue  ($US/yr)        ?  $430 mm
Cash flow ($US/yr)        ?  $355 mm
     
 NPV post tax @ 7%  US$    1.2 B
   IRR %    170%
   Payback    1.2 yr
     
Market capitalization (US$)         $17mm  $32mm
     
1) Donner costs assumed the same as Snow Lake
2) Includes total lease payments to 1911 Gold over 10 yr period ($7mm) and assumed cost for upgrading True North mill ($10 mm).
3) Milling costs assumed same as Snow Lake plus $7.50/t toll milling fee paid to 1911 Gold
4) Transport costs assumed same as Snow Lake plus $15/t for ore transport to True North mill (82km).
 

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