Name of the Project
Sisson tungsten/molybdenum project.

Location
New Brunswick, Canada.

Project Owner/s
The Sisson Partnership, comprising Northcliff (a Hunter Dickenson affiliate) and New Zealand-based Todd Minerals.

Project Description
The project aims to supply critical minerals for sectors such as communications technology, aerospace, defence and clean technology.

In the 2013 feasibility study, project development was proposed as an openpit mine with conventional processing facilities, supplemented by value-added downstream and on-site processing of tungsten concentrates in an ammonium paratungstate plant.

The feasibility update is designed to provide the necessary economic and technical information to support a construction decision on the project.

Potential Job Creation
The 2013 feasibility study disclosed that the project was expected to create 500 jobs during the construction phase and another 300 permanent jobs over the 27-year life of the mine.

Net Present Value/Internal Rate of Return
The January 2013 feasibility study estimated a pretax net present value, at an 8% discount rate, of C$714-million and an internal rate of return of 20.4% with a 4.1-year payback.

Capital Expenditure
The 2013 feasibility estimated capital costs at C$579-million.

Planned Start/End Date
Not stated.

Latest Developments
The Canadian government has granted Northcliff Resources C$8.21-million to advance the project.

The funding, provided by Natural Resources Canada under the Global Partnerships Initiative, will be used to update the feasibility study and for basic engineering work.

This support follows the US Department of Defense’s award in May of $15-million (about C$20.7-million) under the Defense Production Act Title III.

The federal investment underscores the country’s commitment to boosting domestic mineral production, strengthening supply chains, creating jobs and maximising natural resource potential in New Brunswick and the county.

Northcliff chairperson, president and CEO Andrew Ing has noted that the coordinated Canadian and US funding highlights the project’s strategic importance, which will ensure mineral availability for emerging technologies and safeguard North American supply security and industrial competitiveness.

Since completing a positive feasibility study in 2013, Northcliff has invested about C$70-million in studies, environmental approvals, and other development work. The company is progressing towards a construction decision, focusing on detailed planning, financing and offtake agreements.

Key Contracts and Suppliers
Ausenco Engineering Canada (feasibility study update).

Contact Details for Project Information
Northcliff Resources, tel +1 604 684 6365, fax +1 604 684 8092 or email info@hdimining.com.