First Mining Gold (TSX: FF; US-OTC: FFMGF) is targeting environmental approvals in the new year after an updated prefeasibility study showed its Springpole project in Ontario is valued near double its capital cost.
Springpole has an after-tax net present value of $2.1 billion (C$2.88 billion), an internal rate of return of 41% at a gold price of $3,100 per oz. and initial construction expense of $1.1 billion, CEO Dan Wilton said at The Northern Miner’s International Metals Symposium in London.
Provincial and federal environmental decisions are expected in the second quarter ahead of a new study and a construction decision by early 2028, Wilton told Miner Editor-in-Chief Colin McClelland in a new video from the December conference.
“We’ve been in the EA process with Springpole since 2018, so very happy to be bringing that to a conclusion,” Wilton said. “We’re doing a bunch of field work this winter to shore up our feasibility datasets, targeting a feasibility study by the end of 2026.”
Watch the full conversation below.
This Joint Venture video is PROMOTED CONTENT sponsored by First Mining Gold and produced in cooperation with The Northern Miner.
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