Coda Minerals unveils project update

Coda Minerals (ASX:COD) has released a significant update on its Elizabeth Creek Copper-Cobalt-Silver Project in South Australia. The update highlights improved project economics due to better copper and silver recoveries and the inclusion of a new open pit deposit. The updated Scoping Study indicates a pre-tax revenue of $7.57 billion and a pre-tax NPV of $1.18 billion.

Project outlook and future plans

Coda Minerals is advancing its Elizabeth Creek Project through a two-phase execution plan, focusing first on copper-cobalt concentrate production for early cash flow, followed by the construction of a hydrometallurgical plant to produce higher-value products. With a strong financial outlook, including a pre-tax NPV of $1.18 billion and revenue of $7.57 billion, the project is set for growth. The integration of the Cattle Grid South open-pit deposit and planned exploration at Emmie East are expected to extend the project's life and enhance resource potential. The company is preparing to move to a Pre-Feasibility Study and is exploring funding options. Coda Minerals is well-positioned to leverage critical mineral incentives and capitalize on market shifts towards decarbonization.

Executive commentary on project update

The updated Scoping Study presents a total pre-tax revenue of approximately $7.57 billion over the life of the mine with a pre-tax NPV of approximately $1.18 billion and a 35% IRR.