Stormlands Mining Boosts Clarence Stream NPV by 52.8% with Updated Economic Model
Stormlands Mining's updated economic model for Galway Metals' Clarence Stream gold-antimony project in New Brunswick has lifted the project's net present value (NPV) by 52.8% to $676.1 million at a 5% discount rate, using a gold price of $4,245.22/oz and antimony at $31,000/t. The updated model is based on a mineral resource estimate (MRE) from 2026.
The projected life-of-mine revenue has increased from $4.23 billion to $5.48 billion, with earnings before interest, taxes, depreciation, and amortization (EBITDA) rising from $2.93 billion to $4.17 billion. The internal rate of return (IRR) has also improved from 31.15% to 44.86%, while the payback period has shortened by about one year.
The model suggests that gold contributes over 95% of the revenue and almost all of the $1.25 billion uplift, highlighting the strong price sensitivity of the project. This is underlined by the fact that the uplifted NPVs at a 5% discount rate are materially higher than the original studies in Stormlands' database.
Stormlands Mining has re-rated several other projects using similar AI-driven approaches, including Bralorne, Odienné, and Fremont. The company is positioning itself as a price- and optionality-optimist relative to most 43-101 style base cases.