MGX PEA outlines economic case for magnesium oxide production at Driftwood project

Exploration junior MGX Minerals has released the results of a preliminary economic assessment (PEA) for its Driftwood Creek magnesium project, located in British Columbia, outlining the project's potential to become a high-margin, low-cost producer of magnesium oxide (MgO). The early-stage assessment has calculated a pre-tax net present value for the project of C$529.8-million, with an internal rate of return coming in at 24.5%, providing a 3.5-year payback period of the C$235.9-million initial capital component. Total capital costs have been pegged at C$239.8-million over the 19-year mine life.