Nuvau Minerals (NMC.V) has commenced working on a new Preliminary Economic Assessment on its flagship Matagami project in Quebec. This project includes the past-producing Bracemac-McLeod mine where the company discovered an extension of the mineralization at depth.
The PEA will include an update to the existing resource beyond what was included in the 2023 PEA. This will now also include the Bracemac-McLeod extension, and this potential addition would be moved forward as the mine remains fully permitted with key infrastructure elements still in place as the mine only recently ceased production (in 2022). The PEA will of course also use the higher commodity prices as the 2023 study still used $3.74 copper in its base case scenario. Applying a higher copper price should help the economics, but the updated capex and opex remain important items as well.
Disclosure: The author currently has no position in Nuvau Minerals. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
