Project UpdateJun 30, 2026, 06:11 AM
Guardian Metal Pilot Mountain PFS: NPV $660.3M, IRR 59.6%
AI Summary
Guardian Metal Resources PLC announced positive Pre-Feasibility Study (PFS) results for its Pilot Mountain Tungsten Project. The study indicates an after-tax Net Present Value (NPV8) of US$660.3 million and an Internal Rate of Return (IRR) of 59.6% at base case pricing, with a 1-year capital payback period. The project, supported by a US Department of War investment, aims to produce 15,916 tonnes of WO3 over an 8-year mine life, with initial capital expenditure estimated at US$288.7 million, targeting first production in Q4 2028.
Key Highlights
- After-tax NPV8 of US$660.3 million and IRR of 59.6% at base case pricing.
- Capital payback period of 1 year from first commercial production.
- After-tax free cash flow of US$1.058 billion at base case tungsten pricing.
- Initial capital expenditure estimated at US$288.7 million.
- Project planned to produce 15,916 tonnes of WO3 over an 8-year mine life.
- Probable Mineral Reserves total 20,275 tonnes of WO3 and 3.5 million ounces silver.
- Targeting first ore through the mill in Q4 2028.
- Adjusted operating cost projected at US$54,622 per tonne of WO3 in concentrate.
Price Impact
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