The objective of the 2022 PEA Update was to integrate:

  • updated long-term prices for zinc and lead metal
  • reduced life-of-mine water management cost estimates based on hydrogeological modelling that reduced dewatering volume estimates by 30% compared to the 2020 PEA with potential for a further reduction of approximately 15% for the dewatering volume estimates as the project advances to feasibility
  • cost escalations in CAPEX and OPEX.

2022 PEA Update Highlights
(all figures in CAD unless otherwise noted):

After-tax internal rate of return 25%
After-tax net present value (Discount rate 8%) $602M
After-tax payback period (years) 3.8
Pre-production CAPEX (including $106.6M Contingency) $653M
Average annual LOM production zinc 329Mlb
Average annual LOM Production lead 141Mlb
Life of mine (LOM) 12 Years
Total mineral resources Mined (2022 MRE) 46.9Mt
Average ZnEq diluted (12%) grade of mineral resources mined 6.1%
Gross revenue after royalty (LOM) $5,625M
After-tax operating cash flow (LOM) $1,279M
C1 Costs over LOM (ZnEq) (includes mine site cost plus
smelting, transport, and royalty)		 US$0.61/lb
All-in costs (ZnEq) (C1 plus sustaining CAPEX) US$0.80/lb
LOM zinc price US$1.37/lb
LOM lead price US$0.97/lb
FX rate (CAD:USD) 1.27