Coda Minerals Enhances Elizabeth Creek Economics with New Resources and Higher Recoveries, SA
Project Name: Elizabeth Creek Copper-Cobalt Project
Project Location: South Australia
Project Stage: Advanced Exploration
ProjectBank Summary:
Coda Minerals Limited (ASX: COD) has released an updated Scoping Study for its 100%-owned Elizabeth Creek Copper-Cobalt-Silver Project in South Australia. The revised study delivers a material uplift in project economics, reflecting improved recoveries of copper and silver, the addition of a new open pit deposit, and optimised mining methods. The study forecasts a 57% increase in post-tax NPV(7) to $802 million and an internal rate of return (IRR) of 35%. The project will proceed in two phases, including early copper-cobalt concentrate production and the development of a hydrometallurgical plant to produce high-value products such as copper cathode and battery-grade cobalt sulphate.
Coda Minerals Highlights:
Post-tax NPV(7) increase of 57%, now valued at $802 million.
Estimated life-of-mine pre-tax revenue of $7.57 billion.
Average annual production: ~26,700 tpa copper, ~1,300 tpa cobalt, and ~1.1Moz silver.
Inclusion of a new open-pit deposit, Cattle Grid South, expanding production by 20,000 tonnes of copper.
Phase 1: 1-year copper-cobalt concentrate production; Phase 2: 13 years of hydrometallurgical processing.
MD/CEO Statement:
Chris Stevens, CEO, commented: "The revised Elizabeth Creek Scoping Study reinforces the exceptional potential of the project. By integrating technical optimisations and improved recoveries, we have delivered a significant uplift in project value. With a pre-tax NPV exceeding $1.1 billion, Elizabeth Creek stands as a flagship project with world-class credentials in a Tier 1 jurisdiction. We are excited to commence targeted drilling in 2025, advancing towards the next phase of development."
