FireFly Green Bay Project Shows Strong Economics in New Study

FireFly Metals’ Green Bay project now ranks among Canada’s top undeveloped copper projects. A new economic study and resource update position it highly for value and capital efficiency.

The preliminary economic assessment (PEA) estimates Green Bay’s net present value at A$2.2 billion (C$2.1 billion) after a 7% discount. It projects an internal rate of return of 42% with initial costs of A$513 million. The project could produce 1.8 million tonnes annually over a 32-year mine life.

Green Bay leads Canadian projects in capital efficiency. Its after-tax net present value is more than four times higher than initial capital costs. Overall, the project ranks third by NPV for undeveloped copper-gold projects nationwide.

A resource update raised contained copper in measured and indicated categories by 34% to 1.1 million tonnes. Contained gold grew 66% to 908,000 ounces, and contained silver rose about 63% to 8.1 million ounces. Inferred resources declined almost 20% after new drill data converted material to higher categories.

FireFly plans to release a feasibility study for Green Bay in the first quarter of next year, aiming for a final investment decision in late 2027. The company also intends to raise A$180 million through equity sales to fund project advancement. FireFly shares were flat at C$1.87 on Tuesday, valuing the company at C$1.4 billion.