The Storm copper project on Somerset Island, Nunavut, has been the focus of intensive exploration efforts.

Mining has become one of Canada’s frontlines in terms of reconciliation.

The 2023 feasibility study predicts an average annual gold production of 207,000 oz. in each of the first five years and 176,000 oz. per year over the initial 10 years of operation.

The company says it plans to reset mining practices and upgrade the site logistics network.

The company underlined its interest in a deal by holding back $2 billion for a potential purchase of Teck’s coal business.

The company also maintained its full-year production outlook for gold and copper.

Despite the latest feasibility study outlining the potential for a larger, longer lasting, and cost-efficient operation, it comes at an 87% higher price tag.