EDM Resources Nears Production with Strong Economic Outlook in Nova Scotia Mining Project
Vancouver, Canada
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April 30, 2024 04:21 PM Eastern Daylight Time
EDM Resources CEO Mark Haywood joined Steve Darling from Proactive to share news the company is poised for an exciting period of exploration as it ramps up activities at its flagship Scotia Mine property near the Halifax airport. Haywood shared insights into the company's progress, highlighting significant milestones achieved and future plans.
The Scotia Mine project, set to produce zinc, lead, and gypsum, is nearing the completion of its permitting process, with full permitting expected by July. Major permits have already been secured from the Department of Fisheries and Oceans, with only a final federal permit pending. Financially, the project demonstrates robust economics, with a net present value (NPV) of CA$107 million and an after-tax internal rate of return (IRR) of 65%. Projected operating free cash flow of over CA$357 million over its 14-year lifespan further underscores its economic viability.
With approximately 150 long-term jobs expected to be generated, the project requires CA$31 million to commence production, with funding secured through non-dilutive debt financing. The favorable economic outlook of the mine is bolstered by rising zinc prices and operational enhancements, including upgrades to crushing and grinding equipment and a new dense media separation study aimed at improving ore quality.
In addition to operational advancements, EDM Resources Inc is expanding its board and plans to provide regular updates through its newsletter, reflecting its commitment to transparency and stakeholder engagement.
Contact Details
Proactive North America
+1 604-688-8158
