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A preliminary economic assessment the company completed at Scott Lake the same year assigned the project a $146 million pre-tax net present value at an 8% discount rate and a 16.5% pre-tax internal rate of return. The project would generate more than $519 million in net cash flow.

“Chibougamau is a mining town,” CEO Amit Gupta says. “To focus on the structure is a great thing for us because it’s something good for the town. We have the Cree that have their village nearby, and we can focus on jobs in a collaborative way, rather than just try to do something on a typical NSR or payment basis."

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