Trilogy Metals (TMQ) said its preliminary economic assessment study for the Bornite copper project in northwest Alaska yielded "positive" results.
The study's highlights include a production estimate of 1.9 billion pounds over the 17-year mine life, aftertax net present value of $394 million and internal rate of return of about 20%, the company said Wednesday in a statement.
The study also showed the ability to extend mine activity at the Upper Kobuk Mineral Projects to more than three decades, the company said.
The Bornite project is owned by Ambler Metals, a joint venture equally owned by Trilogy and South32.
Trilogy shares rose 3.7% in recent Wednesday trading.
Price: 1.13, Change: +0.04, Percent Change: +3.65
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