Canadian Mining Journal

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FLUORSPAR STUDY: Positive PFS for St. Lawrence project

NEWFOUNDLAND - Canada Fluorspar of Toronto has received a positive preliminary feasibility study and 43-101 report for its St. Lawrence fluorspar project on the southern tip of the Burin Peninsula. The company is reopening the underground mine,...



NEWFOUNDLAND – Canada Fluorspar of Toronto has received a positive preliminary feasibility study and 43-101 report for its St. Lawrence fluorspar project on the southern tip of the Burin Peninsula. The company is reopening the underground mine, upgrading the mill, building a new tailings management facility, and constructing a new marine terminal.

The PFS puts the pre-tax net present value (NPV) with a 5% discount rate at $129.1 million using a base case of US$425 per tonne of product. That number nearly doubles, however, if there is a 20% rise in the price of fluorspar to $229.0 million. The pre-tax internal rate of return for the base case is 20.3%, and with a 20% higher product price the IRR becomes 30.8%. The cash operating cost per tonne milled would be $70.62 in either case.

To reopen the St. Lawrence mine and plant to produce 122,000 tonnes/year of fluorspar concentrate will be $98 million. A further $62.5 million in sustaining capital will be required over the life of the project.

Canada Fluorspar is taking the project to the design stage with production targeted for 2013. Details are available at www.CanadaFluorspar.com.