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Chibougamau Independent Mines ( (TSE:CBG) ) has shared an update.
Chibougamau Independent Mines Inc. announced that Cerrado Gold Inc. has updated the feasibility study for the Mont Sorcier project, which now includes a 60% increase in production throughput to 8 million tonnes per annum. The phased production plan and additional resource drilling are expected to maintain a 20-year mine life, with construction potentially starting in mid-2028, pending permits and financing. This development could significantly impact Chibougamau’s royalty income and influence its market position.
More about Chibougamau Independent Mines
Chibougamau Independent Mines Inc. is involved in the mining industry, focusing on the exploration and development of mineral properties. The company holds a 2% Gross Metal Royalty on iron and vanadium production from the Mont Sorcier project, which is a high-purity magnetite iron project located in Quebec, Canada.
Average Trading Volume: 28,800
Technical Sentiment Signal: Buy
Current Market Cap: C$15.88M
For a thorough assessment of CBG stock, go to TipRanks’ Stock Analysis page.