Century Lithium feasibility study update boosts angel Island project economics, Noble says
Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) recently filed its 2026 NI 43-101 feasibility study for the 100%-owned Angel Island lithium project in Nevada, which Noble Capital Markets analysts said materially enhances the project’s economic profile. The updated study incorporates...
Century Lithium Corp.(TSX-V:LCEOTCQX:CYDVF) View Price & Profile Century Lithium feasibility study update boosts angel Island project economics, Noble says
Published: 13:15 18 Mar 2026 EDT
Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) recently filed its 2026 NI 43-101 feasibility study for the 100%-owned Angel Island lithium project in Nevada, which Noble Capital Markets analysts said materially enhances the project’s economic profile.
The updated study incorporates engineering optimization, pilot plant validation, and refinements to the mine plan, strengthening the project’s financial outlook.
Phase I capital expenditures are estimated at $997 million, down from $1.5 billion in the 2024 study, with development now structured in two phases. Phase I contemplates 7,500 tonnes per day of mill feed, expanding to 15,000 tonnes per day in Phase II, with expansion capital of $660 million. A previously planned third phase has been removed, lowering overall capital requirements.
The study models 40 years of production, with life-of-mine average output of 26,500 tonnes per year of battery-grade lithium carbonate.
Using a lithium carbonate price of $24,000 per tonne and an 8% discount rate, the after-tax net present value (NPV) is $4.01 billion and the after-tax internal rate of return (IRR) is 27.4%.
Average operating costs are estimated at $22.45 per tonne of mill feed, or $4,389 per tonne of lithium carbonate.
“The combination of large-scale reserves, long mine life, improved capital efficiency, strong projected returns, and an integrated processing model positions Century Lithium as a strategically important domestic lithium development company with significant leverage to long-term lithium demand growth,” the analysts wrote.
The firm maintained an “Outperform” rating on Century Lithium and raised its per-share price target to US$3.05 (C$4.15), citing improved economics, long mine life, large-scale reserves, and the project’s vertically integrated processing model, including on-site direct lithium extraction and a chlor-alkali facility that produces sodium hydroxide as a co-product.
At the time of writing, Century Lithium shares traded at US$0.27, giving the company a market capitalization of US$44.7 million.