QUEBEC - Glen Eagle Resources of Montreal says the preliminary economic assessment of its Authier lithium project near Val d'Or outlines a "robust" project. The PEA was based on the production of a spodumene concentrate with the recovery of two byproducts (mica and feldspar).
The proposed capital expenditures is $35 million for a 1,000-t/d operation, and the project will pay for itself in 3.5 years. It will generate an internal rate of return of 30% if Glen Eagle retains a 100% equity in the Authier project. Should the company proceed with 50% equity and 50% debt, the IRR would become 48%. The net present value (8% discount) is $46 million.
The Authier property has indicated resources of 4.0 million tonnes and inferred resources of 2.2 million tonnes. The resources have an average grade of 1% Li2O. That would support mining operations for 12 years.
Glen Eagle continues to drill at the project to increase the tonnage of inferred resources. Visit GlenEagleResources.com for additional information.