First Phosphate publishes a technical report on the Bégin-Lamarche project

First Phosphate Corp. announced the filing of a preliminary economic assessment (PEA) technical report for its Bégin-Lamarche phosphate project in Saguenay-Lac-Saint-Jean, Quebec, Canada. The company aims to develop an open-pit operation producing 900,000 tonnes of phosphate concentrate per year and 380,000 tonnes of magnetite. The project has an after-tax internal rate of return of 33.3% and a net present value of $1.59 billion over 23 years.

This development benefits from existing infrastructure, reducing initial costs to $675 million. However, the economic viability of the mineral resources remains to be demonstrated. No royalties or financing are outstanding, reinforcing the financial stability of the project.