Clean Air Metals Releases PEA for Thunder Bay North Project

Clean Air Metals Inc. has submitted its Preliminary Economic Assessment (PEA) for the Thunder Bay North Project near Thunder Bay, Ontario. The report projects an 11-year mine life, emphasizing near-surface, ramp-access underground operations yielding 2,500 tonnes daily.

The PEA highlights a pre-tax NPV of $219.4 million CAD, contrasting with a capital cost of $89.5 million CAD. The respective internal rates of return are 39% pre-tax and 32% after-tax, promising a capital payback in 2.5 years. At current spot prices, projections are even more favorable.

The project advances in sync with local Indigenous communities and benefits from existing infrastructure. With a significant platinum and palladium resource, the project aligns with federal and provincial critical minerals initiatives.