The company reported a pre-tax project NPV at a 5% discount rate of US$2.636 billion and a post-tax NPV of US$1.696 billion in its updated feasibility study. BMC estimated pre-production capital at US$665 million, while noting these are study outcomes and projections.
The study plans for most ore to be mined by open pit, with 14Mt, or 89% of Probable Ore Reserves, sourced from open-pit mining and 1.7Mt, or 11%, from underground mining. Underground mining is scheduled to start in Year 3, with underground ore processing beginning in Year 5.
BMC said permitting and approvals are advancing to enable a final investment decision in late 2027. The company identified the Quartz Mining Licence and Type A Water Licence among key permits, with an anticipated 12 to 18 month process after receipt of a Decision Document.
The company cautioned that there is no certainty the Kudz Ze Kayah project will be developed or commence operations, that feasibility study results will be accurate, or that it will raise funding when required. BMC also said it could consider sale, partial sale or joint-venture options for the project.
Source: Download BMC official ASX announcement, 2026-11-02.
Photograph from BMC Minerals' Updated 2026 Feasibility Study announcement, November 2026.