About Atlas Salt
Atlas is rapidly advancing its 100%-owned Great Atlantic Salt Project through the Feasibility Stage as a highly efficient, scalable, and environmentally friendly “Salt Factory” on the west coast of Newfoundland – a salt mine for the 21st century (the first new one in 25 years).
A recently released independent Preliminary Economic Assessment, based on a conservative revenue model and assuming all capital and sustaining costs for a production capacity of 4 million tonnes per year over 30 years, shows a pre-tax IRR of 22%, an NPV(8) of $909 million (CDN), and low-cost production utilizing a Q4 2022 cost basis of $23.81 per tonne FOB.
SLR Consulting (Canada) Ltd. (SLR) is now working toward a final Feasibility Study expected during the first half of 2023.
Located immediately beside important infrastructure including a deep water port, Great Atlantic is strategically positioned in the heart of the robust eastern North America road salt market that relies heavily on overseas imports to meet annual demand.
Atlas President Rowland Howe developed Goderich into the largest underground salt mine in the world during his tenure as mine manager with NYSE-listed Compass Minerals International. An efficient salt mine like Goderich can generate robust cash flow for generations. Great Atlantic is unusually shallow by industry standards with geotechnical data continuing to support the objective of accessing this deposit through an inclined ramp as a unique and highly efficient mining method among North American salt deposits.
Salt is big business in North America. Since 2020 private equity has completed $5.2 billion (U.S.) in acquisitions in this recession-resistant sector.
Meanwhile, Atlas is the largest shareholder in Triple Point Resources which is applying to list on the Canadian Securities Exchange. Through an Atlas spinout completed in September 2022, Triple Point owns Newfoundland’s only known salt dome (Fischell’s Brook) located 15 km south of Great Atlantic. Fischell’s Brook’s potential for underground energy storage makes it a highly strategic asset in the heart of Newfoundland’s emerging Clean Energy Hub.
“The salt endowment on the west coast of Newfoundland is truly remarkable. Great Atlantic is a highly advantaged asset that could hold the key to security of road salt supply in North America for decades to come. The Fischell’s Brook salt dome with its underground energy storage potential is a key asset in Newfoundland’s emerging Clean Energy Hub.”