Hunter Dickinson

Northcliff

Northcliff Resources

Northcliff Resources Ltd.


Northcliff Resources Ltd. is a mineral development company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada. Northcliff is publicly traded on the Toronto Stock Exchange (TSX) under the symbol NCF.

The Sisson property hosts a large near-surface tungsten-molybdenum deposit amenable to open pit mining. Sisson has excellent potential to be a near-term metal producer, with the capability to meet increasing tungsten demand from North American, European and Asian markets.

In January 2013, Northcliff announced positive feasibility results for the Sisson Project based on a 30,000 tonnes per day open pit mining and milling operation and an ammonium paratungstate (APT) plant.

Highlights from the Sisson Project Feasibility Study include1:

  • 334 million tonne proven and probable mineral reserve2 containing 22.2 million metric tonne units (mtu) of tungsten trioxide (WO3) and 154 million pounds of molybdenum (Mo) at an $8.83/t Net Smelter Return cut-off
  • Average of 557,000 WO3 mtu in APT and 4.1 M lb Mo in concentrate produced annually over a 27-year mine life
  • Pre-tax net present value (NPV) of $714 million (8% discount rate), a pre-tax internal rate of return (IRR) of 20.4% and a 4.1-year payback on initial capital expenditures of $579 million
  • Post-tax NPV of $418 million, a post-tax IRR of 16.3% and a 4.5-year payback
The Sisson Project has received both provincial and federal approvals after progressing through a rigorous, four-year environmental assessment process. Current project activities are directed toward obtaining construction and operating permits, while the senior management team advances discussions to secure off-take agreements and project financing.

1 Based on metal prices of WO3 -- US$350/mtu, Mo -- US$15/lb and US$:C$ exchange rate of 1.0:1 for capital cost; March 2013 Sisson Feasibility Study Technical Report, Independent Qualified Persons David W. Rennie, PEng., Roscoe Postle Associates, Inc.; Jim Gray, PEng., Moose Mountain Technical Services; Daniel Friedman, PEng., Knight Piésold Consulting; Matt Bolu, M.Sc., PEng., Bolu Consulting Engineering, Inc.; Gene Greskovich, PE; Gene Greskovich; Steven Pozder, PE, Samuel Engineering, Inc.

2Grading 0.066% WO3 and 0.021% Mo; Contained within Ultimate Pit Limit, using Assumed Concentrator Recoveries: WO3 -- variable with feed grade, Mo -- 82%; APT Plant Recovery of WO3 -- 97%; US$:C$0.9:1; NSR = (WO3% * NSP WO3*Recovery WO3*22.046) + (Mo%*NSP Mo Recovery Mo*22.046);Net Smelter Price (NSP) WO3 = C$17.46/lb; Mo = C$14.50/lb.

Trading

TSX: NCF

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Related News


April 23, 2019:
Northcliff Reports Annual General Meeting Results
Learn more

April 05, 2019:
Northcliff Announces New CFO
Learn more

April 01, 2019:
Northcliff Announces New Chief Financial Officer
Learn more

 
Hunter Dickinson