The Adanac molybdenum project in British Columbia was permitted, financed and already under construction when the 2008 financial crisis brought everything to a halt. Eighteen years later, EraNova Metals (TSXV: NOVA) is trying to finish what was started.
A new PEA outlines a 24-year mine producing 11.4 million pounds of molybdenum annually, with a $714 million after-tax NPV at US$25 molybdenum. With the metal recently trading above US$40, the economics look dramatically different.
In this video, we break down the project, the infrastructure left behind from 2008, the nearly $1 billion construction bill, operating costs, and why this old mine plan suddenly matters again.
Information for this briefing was found via the sources and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
