Nordique Critical Metals Provides Update on Kwyjibo Rare Earth Project
Consolidated filed its preliminary economic assessment for the Kwyjibo project, clearing the final hurdle for an 80% project earn-in.
Consolidated Lithium Metals Inc. (CLM) has submitted its Preliminary Economic Assessment (PEA) technical report and financial plan to the TSX Venture Exchange (TSXV). This filing satisfies a condition set forth in the TSXV’s conditional approval letter regarding CLM’s acquisition of an undivided interest of up to 80% in the Kwyjibo Rare Earth Project. The technical report includes refinements designed to address community concerns regarding the project's environmental footprint. The final report is expected to be filed on SEDAR+ in late August 2026, pending feedback from the TSXV.
Consolidated Lithium Metals Inc. (CLM) issued a procedural update following the Preliminary Economic Assessment (PEA) results announced on July 2, 2026, and the financing that closed in March and April 2026. The submission of the technical report fulfilled a known condition for closing the earn-in agreement with Soquem Inc. (Investissement Quebec).
The update confirms that CLM is on track to satisfy regulatory requirements. The release introduces no new financial data, operational milestones, or strategic shifts. While the development reduces execution risk regarding the acquisition, it does not alter the company's pre-revenue status or capital requirements.
Consolidated Lithium Metals Inc. (CLM) is an exploration-stage critical minerals company focused on lithium properties in Quebec and the Kwyjibo Rare Earth Project. The Kwyjibo deposit is an IOCG-style mineral system located approximately 125 km northeast of Sept-Îles, Quebec. It hosts high-grade rare earth oxides (TREO) with a significant critical component, with 45.5% of the resource classified as critical REOs, comprising 24.5% Dy-Tb-Y and approximately 20% NdPr.
An updated preliminary economic assessment (PEA), effective June 25, 2026, outlines a 10-year underground mine producing approximately 10,000 tonnes of REO annually. The project features a pre-tax internal rate of return (IRR) of 46.5% and a pre-tax net present value (NPV) of $2.4 billion CAD. CLM holds an option to earn up to an 80% undivided interest in Kwyjibo from Soquem Inc., a subsidiary of Investissement Quebec.