Angel Island Feasibility Study: $4.01B NPV, 27.4% IRR
Century Lithium Corp.'s Angel Island in Clayton Valley, Nevada, USA has a Feasibility Study outlining an after-tax NPV of $4.01B, an after-tax IRR of 27.4%, and initial capital of $1.66B. The mine plan runs 60 years at about 26500 tpa Li2CO3 per year.
Century Lithium Corp.'s Angel Island has reported Feasibility Study results for the lithium project in Clayton Valley, Nevada, USA. The study headlines an after-tax net present value of $4.01B at a 8% discount rate. It reflects Century Lithium Corp.'s (LCE.V) latest disclosed economics for the asset.
Economics. The after-tax NPV is $4.01B using a 8% discount rate. After-tax IRR is 27.4%. Initial capital expenditure is estimated at $1.66B. Economics are based on Base case Li2CO3 $24,000/t; NaOH $750/t. Sensitivity: Li2CO3 $18,000/t and $30,000/t..
Production and mine plan. The project envisions an open-pit operation. Life of mine is 60 years. Average annual production is approximately 26500 tpa Li2CO3. Average head grade is Average feed grade 1,101 ppm Li (Demonstration Plant). Metallurgical recovery averages 78%.
Resources and ownership. The company holds a 100% interest in the project.
These figures are extracted from Century Lithium Corp.'s technical disclosures and reflect the most recent Feasibility Study on file. Compare this project against other developers and producers in our project economics database, and always verify the numbers against the original technical report before making any investment decision.
Reserves & Resources
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Proven | 266.39 Mt | 1,147 ppm Li | 0.306 Mt Li / 1.626 Mt LCE |
| Probable | 21.26 Mt | 1,174 ppm Li | 0.025 Mt Li / 0.133 Mt LCE |
| Proven & Probable | 287.65 Mt | 1,149 ppm Li | 0.330 Mt Li / 1.759 Mt LCE |
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Measured | 858.26 Mt | 990 ppm Li | 0.850 Mt Li / 4.523 Mt LCE |
| Indicated | 280.33 Mt | 891 ppm Li | 0.250 Mt Li / 1.329 Mt LCE |
| Measured & Indicated | 1,138.59 Mt | 966 ppm Li | 1.099 Mt Li / 5.582 Mt LCE |
| Inferred | 187.28 Mt | 820 ppm Li | 0.154 Mt Li / 0.817 Mt LCE |
Our Analysis
- IRR after-tax
- 27.4%
higher than 56% of 16 projects we track
- NPV after-tax
- $4.01B
higher than 89% of 19 projects we track
- Initial capex
- $1.66B
41% of NPV
costlier than 95% of 19 projects we track
- Mine life
- 60yrs
- Discount rate
- 8%
- Study price assumption
- Base case Li2CO3 $24,000/t; NaOH $750/t. Sensitivity: Li2CO3 $18,000/t and $30,000/t.
The cheque is the story. At roughly US$36M, this company's entire market cap is a rounding error against a US$1.66B initial build, a ratio of about 46.6x. No bank lends into that gap on a junior's balance sheet; the realistic path is a major strategic partner writing the equity cheque, or a series of dilutive placements that would swamp existing holders before first lithium is produced. The project's NPV sits at roughly 112.7x the company's market cap, which cuts both ways: it signals how much optionality the market is ignoring, but also how far the equity must stretch to capture it. This is a financing story first, an asset story second.
The asset itself earns its keep. A feasibility study at plus or minus 15% confidence supports a 27.4% after-tax IRR, ranking above 56% of the 16 lithium projects we track, and an after-tax NPV of US$4.01B that beats 89% of the 19-project peer set. The 60-year mine life in Clayton Valley, Nevada is a durable, mining-friendly jurisdiction, and the capital intensity is genuinely light: initial capex is 41% of NPV, lower than 95% of tracked lithium peers. That low capital intensity is the one mitigating factor against the funding gap, it shrinks the cheque relative to the prize, but it does not shrink the cheque relative to the company.
The base case assumes Li2CO3 at $24,000/t, with a downside sensitivity at $18,000/t, and the IRR still clears the 20%-plus hurdle a higher-risk junior needs to attract project finance. The 8% discount rate is a reporting convention, not an investment hurdle. The single question that decides this project is not whether the rock works, it does, but who writes the US$1.66B and what they demand in return. A partner with deep pockets could make this work; the current equity base cannot.
Our take, benchmarked against the project economics in the Mining Stocks database. Figures are estimates drawn from company technical reports — not investment advice; always verify against the source filing.