Meridian Announces Filing of the NI 43-101 Definitive Feasibility Study Technical Report for the Cabacal Gold-Copper-Silver Deposit in Brazil
Meridian’s DFS filing confirms a $2.1 billion NPV5 and 108% IRR for the Cabacal project.
Meridian Mining PLC (MNO) has filed the independent NI 43-101 Definitive Feasibility Study (DFS) technical report for its Cabacal Au-Cu-Ag project located in Mato Grosso, Brazil. The filing confirms the economic parameters previously announced on September 22, 2026, with no material differences identified between the technical report and the earlier news release.
The base case metrics for the project include an after-tax NPV5 of USD 2.1 billion and an internal rate of return (IRR) of 108%. Pre-production capital costs are estimated at USD 322 million, while the All-In-Sustaining-Cost (AISC) is projected at USD 1,056 per ounce of gold equivalent.
The project defines 56.04 million tonnes of Proven and Probable mineral reserves, supporting a 13.9-year mine life. Average annual production is expected to reach 183,526 ounces of gold equivalent over the first five years. The filing marks the formal completion of the DFS phase, transitioning the project into advanced permitting and project finance preparation.
Meridian Mining PLC (MNO) released the economic results of its Definitive Feasibility Study (DFS) on September 22, 2026, prompting a significant price appreciation in the market. The subsequent filing on November 2, 2026, serves as a regulatory formality required to finalize the technical report on SEDAR+ and comply with NI 43-101 standards. This release provides no new financial, operational, or strategic data beyond the information already disclosed in September.
The filing acts as a procedural confirmation of the project's viability and execution progress, advancing the company's roadmap toward the Installation Licence and Final Investment Decision. However, as the immediate catalyst was already priced in during the initial announcement, the filing does not introduce new market-moving variables.
Meridian Mining PLC (MNO) is a Canadian-British mining company focused on the development of the Cabacal Au-Cu-Ag project in Mato Grosso, Brazil. The flagship project is a conventional open-pit mine with a simple flowsheet, targeting high metallurgical recovery and low operating costs.
The company is also advancing the Santa Helena Central project, which recently declared a maiden M&I resource and yielded high-grade VMS drill intercepts with stacked mineralization layers. Regional exploration covers over 100,000 hectares across the Cabacal, Jauru, and Araputanga greenstone belts.