Grangex: PEA confirms robust economics for Sydvaranger – mapping the road to financial close in H2’25 - Emergers

With the release of a Preliminary Economic Assessment (PEA) for the restart of the Sydvaranger mine, GRANGEX now has more clarity on the path ahead. Based on a price forecast of USD 106-145 per ton for 2027-2045, total production of 54 million tonnes of 70% ultra-high-grade iron ore concentrate, and all permits in place, the PEA supports a healthy IRR of 47% and a post-tax NPV(8) of USD 925 million. GRANGEX now targets completing a DFS for Sydvaranger by July 2025, achieving financial close in 2025, and commencing first production in early 2027. All in all, we now estimate an rNPV-based fair value for the GRANGEX share at SEK 82 per share, contingent on resolving the obstacles related to power supply at Dannemora and the management successfully raising the funding needed to develop the assets.

Länk till analysen i sin helhet: https://www.emergers.se/grangex-a25/