Net Present Value (“NPV”) at 8% discount rate $ 1,698 M 
Internal Rate of Return (“IRR”)   24.6% 
Projected Years to Payback   4.0 years
Total Estimated Capital Cost (excluding sustaining capital and closure costs) $ 982.41 M 
Average Estimated Operating Costs (loaded in ship Port of Sept-Îles) $/dmt 30.72
CFR Concentrate Sales Price Forecast - based on three year trailing average CFR benchmark price of $63.30/dmt @ 62% Fe, adjusted for Kami Fe grade, and HBIS and Glencore agreement terms $/dmt CFR $89.67 (FOB $73.17)
Estimated Mine Life   23 years
Final Product Iron Grade (%Fe)   65.2%
Proven and Probable Mineral Reserves (COG=15%,28.8% Total Fe, 3.4% Dilution, 2.5% Ore Loss)   517.2 Mt
Annual Concentrate Production Rate (average life of mine, post ramp-up year)   7.84 Mtpa

Click here to view the September 26, 2018 news release announcing the updated Feasibility Study results.

Click here to view the full National Instrument 43-101 Technical Report.

The updated FS replaces the November 2017 PEA as the current technical report on the Kami Project. For further information on the Kami Project please refer to the Technical Report entitled “Updated Feasibility Study of the Kamistiatusset (Kami) Iron Ore Property, Labrador” dated effective September 26, 2018 (the “Report”), that is available on SEDAR at www.sedar.com.