Giga Metals Corp. [GIGA-TSXV] has released the results of a prefeasibility study (PFS) prepared in accordance with NI 43-101 for the Turnagain nickel-cobalt project located 70 km east of Dease Lake, northern British Columbia, Canada. Turnagain is owned by Hard Creek Nickel Corp., a joint venture owned by Giga Metals (85%) and Mitsubishi Corp. (15%). All currencies are in U.S. dollars. Highlights include:
Large Long-life Mine: Annual production averaging 37,288 t/y Ni+Co in concentrate over the nominal full operating rate period (Y3 – 28) based on a 30-year project life with an extremely low strip ratio of 0.4 tonnes waste per tonne ore.
Positive Economics: Pre-tax IRR and NPV of 11.1% and $717M (7% discount rate) and post-tax }|
IRR and NPV of 11.4% and $574M at a long-term nickel price of $9.75/lb, with 78% payability for nickel in concentrate.
High-grade Concentrate: Nickel concentrate averaging 18% nickel and 1.1% cobalt with low impurities.
Low-carbon Operation: Scope 1+2 carbon intensity of
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