Angel Island Lithium Project (formerly Clayton Valley Lithium Project) Feasibility Study: $4.01B NPV, 27.4% IRR
Century Lithium Corp.'s Angel Island Lithium Project (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 Lithium Project (formerly Clayton Valley Lithium Project) has reported Feasibility Study results for the lithium (li2co3) 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. 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 (surface) operation. Life of mine is 60 years. Average annual production is approximately 26500 tpa Li2CO3. 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 million t Li; 1.626 million t LCE |
| Probable | 21.26 Mt | 1,174 ppm Li | 0.025 million t Li; 0.133 million t LCE |
| Proven & Probable | 287.65 Mt | 1,149 ppm Li | 0.330 million t Li; 1.759 million t LCE |
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Measured | 858.26 Mt | 990 ppm Li | 0.850 million t Li; 4.523 million t LCE |
| Indicated | 280.33 Mt | 891 ppm Li | 0.250 million t Li; 1.329 million t LCE |
| Measured & Indicated | 1,138.59 Mt | 966 ppm Li | 1.099 million t Li; 5.582 million t LCE |
| Inferred | 187.28 Mt | 820 ppm Li | 0.154 million t Li; 0.817 million t LCE |
Our Analysis
- IRR after-tax
- 27.4%
higher than 43% of 349 projects we track
- NPV after-tax
- $4.01B
higher than 93% of 446 projects we track
- Initial capex
- $997M
25% of NPV
costlier than 81% of 447 projects we track
- Mine life
- 60yrs
- Discount rate
- 8%
- Study price assumption
- Li2CO3 $24,000/t; NaOH $750/t
The economics are the easy part. The problem is the cheque: a US$997M initial build against a company worth roughly US$36M. That is a construction bill about 27.5 times the entire equity value, and no nano-cap writes that itself. This is a financing event dressed as a mining project, and how it is settled determines what existing holders end up owning.
The realistic routes are a strategic partner or offtaker taking a direct stake, a royalty or streaming package sold against future production, heavy debt, or equity issued at whatever discount the market demands. Each transfers value away from current shareholders, and at this scale the dilution is not marginal. That the company carries four projects in total offers some optionality, but it also means attention and capital are split, and none of the siblings is large enough to fund this one. The build cost sits at 25% of NPV, which is genuinely light for a project of this size and lower than 19% of the 447 projects we track, so the asset itself is not the constraint. The balance sheet is.
The feasibility study is the strongest card: build-ready, typically a plus or minus 15% band, and the numbers carry real weight. A 27.4% after-tax IRR clears the roughly 15% threshold project financiers typically require and the 20%-plus that a junior with little else in the portfolio should be held to, though it ranks above only 43% of the 349 projects we track. The US$4.01B after-tax NPV ranks above 93% of 446 projects, which is where the gap to a US$36M market cap comes from: either the market has not engaged with a Nevada lithium development, or it has priced the financing, dilution and long-dated price risk. The 60-year life and the US$24,000/t Li2CO3 assumption are doing a great deal of work across that horizon. The question that decides this is not the IRR. It is who signs for US$997M, and on what terms.
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.