Lion Copper & Gold (LEO.C, soon changing to LCU.V) has confirmed the company remains on track and on budget to publish the results of the definitive feasibility study on the Yerington copper project in Q1 2027. The company has now completed the hydrogeological and geotechnical drill programs, while the planned resource drill program has now also been completed. Meanwhile, the permitting activities are advancing in parallel with the feasibility studies and the environmental baseline studies are for instance underway.
As a reminder, these activities are funded by Nuton as part of the US$31M Stage 3 portion of the earn-in agreement with Nuton helping to fund the company towards feasibility study. Nuton can acquire up to 65% of the project. Should Nuton decide to not establish a 65% stake in the project, it will be entitled to a 1.5% NSR on the assets.
It will be interesting to see the results of an updated economic study, as the 2025 pre-feasibility study indicated an after-tax NPV7% of US$1.25B at a copper price of $5.16 per pound. The IRR was somewhat disappointing at 20%.
Disclosure: The author has no position in Lion Copper. 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.
