Surge Copper PEA outlines three-decade mine at Berg in BC – by Blair McBride (Northern Miner – June 14, 2023)

Surge Copper (TSXV: SURG; US-OTC: SRGXF) has released a preliminary economic assessment (PEA) for its Berg project in central British Columbia that outlines a long-life asset with total payable production of 3.7 billion lb. of copper.

The study, published on Tuesday, puts preproduction capital costs at $2 billion and the project’s mine life at 30 years. The PEA calculates Berg’s after-tax net present value at $2.1 billion, using an 8% discount rate. The project’s internal rate of return is pegged at 20%, based on long-term metal prices of US$4 per lb. copper, US$15 per lb. molybdenum, US$23 per oz. silver, and US$1,800 per oz. gold.

Life-of-mine annual payable production is estimated at 191 million copper equivalent lb., including 121 million lb. of copper.

“The Berg project now represents one of the largest primary copper development projects in Canada, and this PEA confirms some of the unique features and key selling points of the project,” said Surge CEO Leif Nilsson in a release.

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