Angel Island (formerly Clayton Valley Lithium Project) Feasibility Study: $4.01B NPV, 27.4% IRR
Century Lithium Corp.'s Angel Island (formerly Clayton Valley Lithium Project) 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 $997M. The mine plan runs 60 years at about 26500 tpa Li2CO3 per year.
Century Lithium Corp.'s Angel Island (formerly Clayton Valley Lithium Project) 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 $997M, with life-of-mine sustaining capital of $660M. All-in sustaining costs are pegged at 4389 USD/t Li2CO3. Economics are based on $24,000/t Li2CO3; $750/t NaOH.
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 1,101 ppm Li (feed material grades). 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 million t | 1,147 ppm Li | 0.306 million t Li, 1.626 million t LCE |
| Probable | 21.26 million t | 1,174 ppm Li | 0.025 million t Li, 0.133 million t LCE |
| Proven & Probable | 287.65 million t | 1,149 ppm Li | 0.330 million t Li, 1.759 million t LCE |
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Measured | 858.26 million t | 990 ppm Li | 0.850 million t Li, 4.523 million t LCE |
| Indicated | 280.33 million t | 891 ppm Li | 0.250 million t Li, 1.329 million t LCE |
| Measured & Indicated | 1,138.59 million t | 966 ppm Li | 1.099 million t Li, 5.582 million t LCE |
| Inferred | 187.28 million t | 820 ppm Li | 0.154 million t Li, 0.817 million t 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
- $997M
25% of NPV
costlier than 63% of 19 projects we track
- Mine life
- 60yrs
- Discount rate
- 8%
- Study price assumption
- $24,000/t Li2CO3; $750/t NaOH
The cheque is the story. This is a US$34M nano-cap proposing to write a US$997M initial capex cheque, a build cost roughly 29.1x its entire market cap. No lender or equity partner writes that kind of money against a balance sheet this thin without extracting terms that reshape the register. The realistic path is heavy dilution, a strategic partner taking a large stake, or a streaming/offtake structure that carves off a meaningful share of the upside. Existing holders are not funding this; they are spectators to whoever does, and the outcome for them hinges entirely on the price of that capital.
The economics are strong enough to support the story, but they do not resolve it. The after-tax NPV of $4.01B ranks above 89% of the 19 lithium projects we track, and the 27.4% after-tax IRR sits in the upper half of the 16-project peer set. That IRR clears the practical hurdle for a high-risk junior developer, which typically needs 20%+ to attract project finance, and the feasibility-stage estimate carries real weight, a build-ready number with a plus or minus 15% band. Capital intensity is genuinely light at 25% of NPV, lower than the 37% average of the lithium projects we track, which helps the funding math but does not change the absolute size of the ask. The 60-year mine life in Clayton Valley, Nevada, a mining-friendly US jurisdiction, is a quality signal that should make the financing conversation easier than it would be elsewhere.
The single question that decides this project is not whether the rock works, it does, but who writes the cheque and at what price. A $4.01B NPV against a $34M market cap can mean the market has not priced the asset, or that it is skeptical about the dilution and financing structure required to build it. The study assumes $24,000/t Li2CO3 and $750/t NaOH, and those assumptions are the sensitivity that matters most. If the offtake partner or strategic investor believes the lithium price holds, this works; if not, the 117x NPV-to-market-cap gap is a warning, not a promise.
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.