Lomiko Metals Inc. Delivers Positive Preliminary Feasibility Study For La Loutre Graphite Project

The most recent news (March 24, 2026) announces the completion of a Preliminary Feasibility Study (PFS) for the 100%-owned La Loutre Graphite Project in Quebec. Key financial metrics include an after-tax NPV (8%) of CAD$617.4M and an IRR of 24.7%. The project boasts a 28-year mine life with an average annual production of 79.6 kt of graphite concentrate. Total pre-production capital costs are estimated at CAD$504.6M. This follows a series of operational updates, including the engagement of Anzaplan for anode material testing and the identification of high-grade REE anomalies at the Yellow Fox property.

The PFS is a Material - Positive milestone. It transitions La Loutre from a resource-stage exploration project to a viable development project with defined economics. - Economic Viability: An after-tax NPV of $617M is significant relative to the company's current micro-cap valuation, suggesting a massive disconnect between project value and market cap. - Scale: A 28-year mine life provides long-term stability and positions the company as a major North American supplier. - Risk Factor: The CAD$504.6M CAPEX is substantial. For a company with a sub-$10M market cap, the "funding gap" is the primary risk. Lomiko will require significant strategic partners or government backing (e.g., the mentioned $2B Critical Minerals Sovereign Fund) to avoid massive shareholder dilution. - Diversification: While graphite is the flagship, the REE results at Yellow Fox (up to 0.52% TREE) provide a secondary "lottery ticket" value driver.

Lomiko Metals is focused on becoming a vertically integrated supplier of graphite for the North American EV battery supply chain. Its flagship La Loutre Project in Quebec is its primary value driver. The company also holds the Yellow Fox property (Antimony/REE/Gold) in Newfoundland and several other early-stage graphite prospects in Quebec.