Angel Island Lithium Project Feasibility Study: $4.01B NPV, 27.4% IRR
Century Lithium Corp.'s Angel Island Lithium Project in Nevada, USA (Clayton Valley) 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 Lithium Project has reported Feasibility Study results for the lithium project in Nevada, USA (Clayton Valley). 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 Li2CO3 $24,000/t; NaOH $750/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 1,101 ppm Li (feed material to 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 53% of 17 projects we track
- NPV after-tax
- $4.01B
higher than 85% of 20 projects we track
- Initial capex
- $997M
25% of NPV
costlier than 55% of 20 projects we track
- Mine life
- 60yrs
- Discount rate
- 8%
- Study price assumption
- Li2CO3 $24,000/t; NaOH $750/t
The financing question is the project. At a US$33M market cap, this company is asking investors to absorb a US$997M build, roughly 30.3x its entire equity value. No nano-cap quietly funds that; the cheque has to come from strategic partners, off-take-backed debt, or significant equity dilution. The 121.7x NPV-to-market-cap gap cuts both ways: either the market has not begun to price a $4.01B asset, or it is discounting the practical impossibility of funding it without handing control to someone else. Existing holders should assume their stake is the currency that pays for this build.
The economics justify the effort, but they are the supporting act. A 27.4% after-tax IRR clears the 20%+ hurdle a higher-risk junior needs to attract project finance, and it ranks in the upper half of the 17 lithium projects we track. The $4.01B after-tax NPV sits above 85% of the 20 lithium projects in our universe. Capital intensity is genuinely low at 25% of NPV, well under the 45% average of the 20 lithium projects we track, which softens the funding burden somewhat. The 60-year mine life is the quiet strength here: this is not a quick-draw asset, it is a durable, long-dated resource that can support patient, layered financing over decades.
At feasibility level, these numbers carry real weight, a plus or minus 15% band rather than scoping-stage guessing. Nevada's Clayton Valley is a mining-friendly jurisdiction, and the study's price assumptions, Li2CO3 at $24,000/t and NaOH at $750/t, are the key sensitivities to stress-test in any financing model. The single question that decides this project is not whether the rock is good, it is who writes the first cheque and what they demand in return.
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.