Name of the Project
James Bay niobium project.

Location
The project is located 40 km south of Moose Factory Island, in northern Ontario, Canada.

Project Owner/s
Niobay Metals.

Project Description
A preliminary economic assessment (PEA) has evaluated three scenarios for the James Bay project – an openpit, a hybrid openpit and an underground operation.

The openpit operation will produce on average 5 470 t/y of niobium over a 30-year mine life.

The openpit and underground operation will produce 6 213 t/y over a mine life of 23 years.

The underground project will produce 6 283 t/y over a mine life of 23 years.

The average grade mined is 0.44% niobium for the openpit, 0.51% for the hybrid and 0.51% for the underground.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The openpit project option has an after-tax net present value (NPV), at an 8% discount rate, of $1.01-billion and an internal rate of return of 27.5%, with a payback of 3.2 years. The openpit and underground scenario has an NPV, at an 8% discount rate, of $856-million and an internal rate of return of 27%, with a payback of 3.1 years.

The underground scenario has an NPV, at an 8% discount rate, of $733-million and an internal rate of return of 21.6%, with a payback of 4.3 years.

Capital Expenditure
The openpit project will have preproduction capital expenditure (capex) of $510.5-million, the openpit and underground a capex of $482-million and the underground scenario a capex of $579-million.

Planned Start/End Date
Not stated.

Latest Developments
The next phase of the project will include a definition drilling programme, baseline and technical studies, as well as strengthening Niobay Metals’ engagement and business relationship with the Moose Cree First Nation.

Key Contracts, Suppliers and Consultants
G Mining Services Inc (PEA).

Contact Details for Project Information
Niobay Metals, tel +1 514866 6500.