FireFly Metals has released a Preliminary Economic Assessment for the Green Bay copper-gold project in Newfoundland and Labrador, Canada, outlining a long-life restart under a 1.8Mtpa base case and a larger 4.6Mtpa alternative.
The 1.8Mtpa base case delivers an estimated after-tax NPV at a 7% discount rate of A$2.2 billion, an after-tax IRR of 41% and payback in 1.9 years. It supports a mine life of about 32 years and steady-state production of roughly 50,000 tonnes a year of copper equivalent over 14 years.
Initial capital for the base case is estimated at A$513 million after about A$58 million of refundable Canadian tax credits. C1 cash costs are estimated at US$2.05/lb copper equivalent, or US$1.17/lb copper net of by-product credits.
The 4.6Mtpa alternative is estimated to deliver an after-tax NPV of A$3.0 billion and an after-tax IRR of 39%, with a mine life of about 22 years and average annual production of around 90,000 tonnes of copper equivalent, providing a path towards 100,000 tonnes a year.
The updated Green Bay resource stands at 60.2Mt at 2.43% copper equivalent in the Measured and Indicated categories and 23.5Mt at 2.51% copper equivalent Inferred. The high-grade Core Zone contains 18.1Mt at 4.3% copper equivalent Measured and Indicated plus 7.0Mt at 4.4% Inferred.
FireFly is targeting completion of feasibility studies and a maiden Ore Reserve in the first quarter of 2027, followed by a final investment decision and construction in the first half of 2027. First concentrate production under the base case is anticipated in mid-2029.
The PEA is preliminary, includes Inferred Mineral Resources and does not yet declare an Ore Reserve.
Source: FireFly Metals ASX announcement, 25 August 2026.