Some points to note:
- project is marginal (15% post tax IRR at US$1.30/lb Zn and capex >> NPV). The sensitivity analysis (Table 3) indicates that NPV is materially negative at US$1.20/lb Zn
- location is challenging (to say the least), as this would be the most northernly mine developed/currently in operation. TMAC Resources Doris gold mine (Hope Bay, Nunavut) cost nearly US$1 billion to build in 2017 (and not as a remote location as IBG. plus with a gold mine you can fly the product out - you don't have the same concentrate logistic challenges)
- offtake is already committed (Glencore/Trafigura). I would suspect they are more than happy to see this project stay off market - as this will benefit their existing portfolio of zinc mines/smelters
Some points to note:- project is marginal (15% post tax IRR at...
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