Mining Stock Northcliff Resources Ltd. (TSX: NCF) Gains on Feasibility Study Update
Northcliff’s 2026 Feasibility Study Update for the Sisson tungsten-molybdenum project shows a post-tax NPV of $6,915 million and a 49.8% IRR, sending shares up nearly 19%.
Investorideas.com (www.investorideas.com), a leader in mining investing news and home of the Exploring Mining Podcast, issues a news and trading alert for Northcliff Resources Ltd. (TSX: NCF).
The stock makes the TSX top percentage gainer list this morning, currently trading at 0.3500 +0.0550 (+18.64%), with a morning high of $0.36.
Yesterday Northcliff announced the results of the Feasibility Study Update (the “2026 Study” or “Feasibility Study Update”) for the Sisson Project (“Sisson”), located in New Brunswick (“NB”), Canada. The study forecasts strong financial results for an open pit mine and processing facility producing concentrates of tungsten and molybdenum – two critical minerals, as recognized by Canada and other international jurisdictions.
All values are expressed in Canadian dollars unless otherwise noted and are presented on a 100% project basis. All tonnages are stated in metric tonnes (“t”).
Advertisement
2026 Feasibility Study Update Highlights
- Post-tax net present value (“NPV”) of $6,915 M at an 8% discount rate, an internal rate of return (“IRR”) of 49.8% and a 1.6-year payback based on forecast metal prices for European tungsten concentrate from US$1,520/MTU WO3 for 2030, US$1,765/MTU WO3 for 2035 and US$1,880/MTU WO3 by 2040 and thereafter, and for molybdenum concentrate of US$29.57/lb Mo in 2030 to US$28.44/lb Mo in 2040 and thereafter, presented in a marketing study by specialists at Argus Metals (the “Argus Study”). The forecast exchange rate is 1.35:1 C$:US$.
- Proven and probable mineral reserves of 276.8 Mt grading 0.075% tungsten trioxide (“WO3”) and 0.021% molybdenum (“Mo”) at an effective life of mine (“LOM”) net smelter return (“NSR”) cut-off of $16.31/t.
- Mill throughput designed at 30,000 tonnes per day (“t/d”) average or 10.3 Mt per year (“t/a”) for a total of 277 Mt of ore processed over 27 years of operation. Average effective strip ratio is 0.97:1.
- LOM production of 16.1 M metric tonne units (“MTU”) WO3 and 113.5 M pounds (“lbs”) Mo, average annual production of 598,000 MTU WO3 and 4.2 M lbs Mo at 78% and 82% recoveries, respectively. Mining will begin in an area of elevated WO3 grades producing an annual average of 767,000 MTU of WO3 and 4.0 M lbs of Mo for the first 5 years.
- Initial capital expenditures of $1,528 M to construct the Sisson mine, processing facilities, primary and secondary infrastructure, with sustaining capital of $571 M.
- Total operating cash costs to concentrate are $9.23/t milled, net of by-product credits.
- Direct employment of approximately 300 people during operations and approximately 500 during construction phase. Construction is expected to take 2 years to complete.
Northcliff President and CEO Andrew Ing said:
“Northcliff’s goal is to become a reliable and easily accessible producer of tungsten and molybdenum, increasing resiliency in the supply chain of these two critical minerals for Canada and its trading partners. The positive results of the Feasibility Study Update is a key step toward that goal.”
“The results of the 2026 Study reflect some significant changes in the macroeconomic environment and metal markets since the feasibility study in 2013. Metal prices, particularly for tungsten, have increased since 2013, and the change in exchange rate have improved the financial results. Increases in inflation and provincial tax rates since that time have increased capital and operating costs and income taxes. Additionally, refinements to the mine plan, tailings facility and infrastructure, primarily due to the incorporation of updated guidelines and other improvements have added to the capital and operating costs.”
“Current market research supports the production of tungsten concentrate rather than Ammonium Paratungstate (“APT”) as was proposed in 2013, and this decrease in process plant cost has partially offset other costs. We continue, however, to assess the strategic option of producing APT based on the Project’s in-hand approvals and longevity of the proposed mine vis a vis market conditions.”
“We look toward putting the final elements in place to accelerate the Sisson Project toward a construction decision in the latter part of 2027.”
Full news
Northcliff (TSX: NCF) is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. www.northcliffresources.com
Check out the Exploring Mining podcast at Investorideas.com with host Cali Van Zant for the latest mining stock news and insightful interviews with top industry experts
Axel Merk: What Warsh’s Fed Approach Means for Gold, & Gold Stocks
Disclaimer/Disclosure: Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published/created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer and disclosure info: https://www.investorideas.com/About/Disclaimer.asp
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Disclaimer / Disclosure: InvestorIdeas.com is a digital publisher of financial content and is not a registered investment adviser or broker-dealer. This article is informational and is not a recommendation to buy or sell any security; some content may be sponsored or compensated. See our full disclaimer.
