![]() The Company has two divisions: a Platinum Group Metals division and a Lithium/Rare Element division. New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration, and development of green metal projects in North America. The updated PEA will be completed in summer 2023, roughly three years since the 2019 PEA. The 2023 updated PEA will include optimization of the mine plan and methods, production schedule, mineral processing and tailing storage facilities for a smaller, economic operation with reduced environmental footprint. The 2019 PEA concept of a large open pit-based mining and processing operation at River Valley has not held-up to PFS level scrutiny. Furthermore, price volatility due to rising inflationary pressure and economic uncertainty had made it difficult to obtain suitable long-term cost quotes for site equipment and infrastructure systems from potential vendors.Īs a result of the 4-month investigation of the Project options listed above and the continued economic uncertainty, NAM announces that it now plans to complete the River Valley Project PFS as an updated Preliminary Economic Assessment (“PEA”) instead. Since then, Project options investigated include increased underground mining, mine plan and mineral processing enhancements, tailings management alternatives, and converting and extending Mineral Resources, among others, that offered potential for additional flexibility and better economics. ![]() ![]() In a press release dated October 28, 2022, NAM announced its decision to delay completion of the PFS pending investigation and optimization of critical project enhancements and development of a more indicative value of the River Valley Project. (TSXV:NAM ) ( OTC:NMTLF ) ( FSE:P7J.F) (“NAM” or “Company”) wishes to provide an update on the Pre-Feasibility Study (“PFS”) of the River Valley Palladium Project near Sudbury, Ontario. Ma– TheNewswire - Rockport, Ontario - New Age Metals Inc. ![]()
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