en.Wedoany.com Reported - Meridian Mining (London Stock Exchange: MNO) is advancing the final investment decision for the Cabaçal Gold-Copper-Silver Project in Brazil, with a strategic shift in focus toward preparations several years ahead of schedule.
CEO Gilbert Clark stated in an interview that the company has invested heavily in technical, financial, environmental, and social licensing. With the final feasibility study expected to be completed in the fourth quarter of 2026, Meridian Mining has already begun benefiting from related results and has started ordering long-lead items, transformers, and other equipment.
Data generation for the final feasibility study has been completed and delivered to Ausenco to advance engineering activities. These data include metallurgical aspects aimed at further de-risking the process flow, while geotechnical studies have been conducted for all infrastructure sites at the mine.
The Cabaçal Project is an advanced-stage copper-gold-silver volcanogenic massive sulfide system built and managed by local Brazilian personnel. The project is being advanced as a standalone operation while continuing to explore the broader mineralized belt.
The 2025 pre-feasibility study showed a post-tax net present value of $984 million ($1.37948 billion) and an internal rate of return of 61.2%. Cabaçal has an average annual production of 141,000 gold equivalent ounces, with a payback period of 17 months. Clark noted that the company aims to build a mid-tier mining enterprise rather than attempting to rewrite mining rules, positioning itself as an industrial production company.
Meridian Mining listed on the London Stock Exchange in early May, raising £25 million ($46.94 million) through its initial public offering. Shares were issued at £0.92 per share, a 5.6% discount to the closing price on the Toronto Stock Exchange on April 24. Clark stated that the company's market capitalization is currently just under £1 billion, with approximately £100 million in cash invested underground, yielding nearly nine times return on that investment.
Meridian Mining also holds the Espigão exploration and mining license in Brazil. This area represents an intrusion-related gold-copper opportunity, with numerous geochemical and geophysical targets identified along a structural corridor extending over 200 square kilometers. The Espigão project area is dominated by a series of differentiated granites, with an extensive network of mineralized structures at the core of the license area, including base metal anomalous manganese veins, ferruginous breccias, and tin-bearing greisens.
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