True North Gems updates Greenland precious-gem project PFS

An updated prefeasibility study (PFS) on Canadian project developer True North Gems' Aappaluttoq ruby and pink sapphire project, in Southwest Greenland, has presented positive results, revealing that the project has an after-tax net present value at an 8% discount rate of $171-million. The mine, which would cost only $25-million to build and sustain, would have an internal rate of return of 122%.