Back Forty Feasibility Study Complete
08/02/2018- Aquila Resources says a Feasibility Study to analyze the economic value of their Back Forty Mine is complete. The study was conducted by Lycopodium Minerals Canada and shows the project has a pre-tax Net Present Value at a 6% discount rate of $259-million and an Internal Rate of Return of 32%. The mine’s initial project capital costs are estimated to be around $294-million with a 24-month construction period. Aquila says there are also opportunities to further enhance the mine’s overall economics with the potential of a future underground expansion. Aquila President and CEO Barry Hildred says the completion of the Feasibility Study means the company can now focus their resources on the pre-construction phase of the Back Forty Mine while considering funding alternatives to complete the project’s development.