Independent Preliminary Economic Assessment for Atlas Salt’s Great Atlantic Project Supports State-of-the-Art “Salt Factory” Vision
INDEPENDENT PRELIMINARY ECONOMIC ASSESSMENT FOR ATLAS SALT’S GREAT ATLANTIC PROJECT SUPPORTS STATE-OF-THE-ART “SALT FACTORY” VISION St. John’s, Newfoundland and Labrador, January 30, 2023 – Atlas Salt (the “Company” or “Atlas” – TSXV: SALT; OTCQB: REMRF) is pleased to announce the results of an independent Preliminary Economic Assessment (PEA) and updated Mineral Resource estimate prepared by SLR Consulting (Canada) Ltd. (SLR) on its 100%-owned Great Atlantic Salt Project located on the west coast of Newfoundland. Great Atlantic is the premier undeveloped salt deposit situated in the heart of a large regional U.S./Canadian road salt market facing a significant domestic production shortfall. Highlights: Pre-tax internal rate of return (IRR) of 22%; NPV(8) of $909 million; payback in 4.2 years after commencement of operations; Base case of 2.5 million tonnes per year (Mtpa) production for a 30-year mine life with a mine and processing design to accommodate expansion up to 4 million tonnes per […]