Century Iron Mines Corp. (TSX: T.FER, Stock Forum) on Monday released the results from a preliminary economic assessment for its Joyce Lake DSO Project in Newfoundland, and Labrador, near Schefferville, Quebec.
The initial project capital expenditure is estimated at $96.6 million, the company said in a press release. The study is based on a year-round operation with an initial production rate of one million tonnes per year, for the first year, and two million tonnes annually for the remaining years.
Trading at 32.5 cents on Monday, Century Iron has a market cap of $30.7 million, based on 94.6 million shares outstanding. The 52-week range is $2 and 30 cents.