FireFly releases Independent Technical Report for Preliminary Economic Assessment and Resource Estimate
FireFly’s NI 43-101 filing confirms unchanged PEA NPV following immaterial capital expenditure tweaks to the project’s financial model.
FireFly Metals Ltd filed the NI 43-101 Technical Report for the Preliminary Economic Assessment (PEA) and Mineral Resource Estimate (MRE) of the Green Bay Copper-Gold Project on September 22, 2026. The filing formally documents the PEA and MRE previously announced in August 2026.
The report notes immaterial updates to capital expenditure for the expansion case scenario, explicitly stating these changes do not impact the overall Net Present Value (NPV) calculation. It reiterates the August 2026 MRE: * 60.2Mt Measured & Indicated at 2.4% CuEq * 23.5Mt Inferred at 2.5% CuEq
Metallurgical assumptions remain consistent with prior announcements, citing 95% copper recovery and 85% precious metal recovery. Qualified Person Juan Gutierrez reviewed and approved the disclosure, confirming no new material information affects the original August announcements.
FireFly Metals Ltd. (FFM) released a standard regulatory filing in August 2026 that formalized a study already priced into the market. The announcement noted immaterial updates to capital expenditure that did not change the net present value (NPV), indicating no revision to the project's economic viability or valuation.
There was no new drilling data, revised resource estimates, or updated financial metrics. The market had already absorbed the preliminary economic assessment's (PEA) robust metrics, which included an NPV of approximately A$2.2 billion at a 7% discount rate, an internal rate of return (IRR) of 41%, and cash costs (C1) of US$2.05 per pound of copper equivalent (CuEq). Consequently, the news carried no new market-moving information.
FireFly Metals Ltd is a Canadian-Australian mining company focused on the Green Bay Copper-Gold Project in Newfoundland, Canada. The project encompasses the historic Ming Mine and the Little Deer Deposit, covering a 346 km² 100% owned VMS district. The project has received conditional environmental release and early works permits. Early development works, including underground ventilation and electrical upgrades, have commenced.
The PEA outlines two viable production scenarios: a 1.8Mtpa base case targeting 50kt CuEq/year with a 32-year mine life, and a 4.6Mtpa expansion case targeting ~100kt CuEq/year with a 22-year mine life. The project benefits from existing infrastructure, including a 138 kV hydro power line, year-round road access, and a deep-water port 5km away.