Curated News
By: NewsRamp Editorial Staff
April 30, 2024
EDM Resources Nears Production at Scotia Mine with Strong Economic Outlook
TLDR
- EDM Resources is set to produce zinc, lead, and gypsum, with a projected operating free cash flow of over CA$357 million over its 14-year lifespan.
- The Scotia Mine project is nearing completion of its permitting process, with full permitting expected by July.
- Approximately 150 long-term jobs are expected to be generated, reflecting a commitment to stakeholder engagement and economic viability.
- The project demonstrates robust economics with a net present value (NPV) of CA$107 million and an after-tax internal rate of return (IRR) of 65%.
Impact - Why it Matters
The news of EDM Resources' progress at the Scotia Mine project not only signifies potential economic growth and job creation in the Nova Scotia area, but also showcases the company's commitment to transparency and stakeholder engagement. This development could have a significant impact on the local economy and serves as a positive example of sustainable mining practices.
Summary
EDM Resources CEO Mark Haywood shares news of the company's exploration at the Scotia Mine property near Halifax airport, nearing completion of permits and demonstrating robust economic viability. The project is set to produce zinc, lead, and gypsum, with significant milestones achieved and future plans highlighted.
The project is expected to generate approximately 150 long-term jobs and requires CA$31 million to commence production, with funding secured through non-dilutive debt financing. The company also plans to expand its board and provide regular updates through its newsletter, reflecting its commitment to transparency and stakeholder engagement.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, EDM Resources Nears Production at Scotia Mine with Strong Economic Outlook
