In this InvestorIntel interview, Byron W King talks to Clean Air Metals Inc.’s (TSXV: AIR | OTCQB: CLRMF) CEO and Director Abraham Drost about an update on their Thunder Bay North Critical Minerals Project in Ontario, Canada. As a platinum, palladium, copper, nickel project, Abraham discusses how the project has “extremely high grades” and is located in close proximity to several operating mines and key infrastructures.
Speaking about the strength of their exploration team, Abraham shares how Clean Air Metals has 260,000 meters of drilling database “in one of the richest ore-bearing zones in North America”. He goes on to provide an update on Clean Air Metals’ C$15 million royalty financing agreement on Thunder Bay North Critical Minerals Project with Triple Flag Precious Metals Corp.
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About Clean Air Metals Inc.
Clean Air Metals’ flagship asset is the 100% owned, high grade Thunder Bay North Project, a platinum, palladium, copper, nickel project located near the City of Thunder Bay, Ontario and the Lac des Iles Mine owned by Impala Platinum. The Thunder Bay North Project hosts the twin magma conduit bodies which host the Current and Escape deposits forming the basis for a robust preliminary economic assessment (PEA) filed January 12, 2022. The PEA of a ramp access underground mine and on-site 3600 tpd milling complex and the 2-year trailing average price deck delivers an NPV5 NAV of $425m in fully discounted cash flows, a pre-tax IRR of 31% and a post-tax IRR of 25% on initial capital of $367 million.
Executive Chair Jim Gallagher, P.Eng. and COO Mike Garbutt, P.Eng. lead an experienced technical team who are using the Norilsk magma conduit stratigraphic and mineral deposit model to guide ongoing exploration and development prefeasibility studies for a low-carbon, all-electric sustainable mining operation at Thunder Bay North. As the former CEO of North American Palladium Ltd. which owned the Lac des Iles Mine prior to the sale to Impala Platinum in December 2019, Jim Gallagher and team are credited with the mine turnaround and creation of significant value for shareholders.
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