COD reports scoping study update with improved economics at Elizabeth Creek Copper-Cobalt Project, SA

Project Name: Elizabeth Creek Copper-Cobalt Project

Project Location: South Australia (SA), Australia

Project Stage: Advanced Exploration

ProjectBank Summary: Coda Minerals Limited (ASX: COD) has released an updated scoping study for its Elizabeth Creek Copper-Cobalt Project, showcasing a notable improvement in project economics. The updated study includes the implementation of mechanical cutting at Emmie Bluff, resulting in reduced mining costs and increased annual production by up to 20%. The updated pre-tax NPV8 now stands at approximately $735 million, reflecting a 29% increase over the previous study.

Coda Minerals highlights:

• Improved pre-tax NPV8 of $735 million:

  • Reflects a $165 million or 29% increase over the March 2023 Scoping Study.

• Mechanical cutting at Emmie Bluff:

  • Reduces mining costs and increases annual production by 20%.

• Cost optimizations:

  • Cheaper acid neutralization and flotation reagent optimization substantially reduce processing costs.

MD/CEO Statement: Chris Stevens, CEO of Coda Minerals, commented: "This study update reaffirms the strong economic fundamentals of the Elizabeth Creek Project. The optimizations and study work over the past eight months have resulted in a 29% increase to the Project Net Present Value, making Elizabeth Creek an even more attractive development opportunity."