en.Wedoany.com Reported - Canadian mining company Surge Copper Corp. (TSXV: SURG, OTCQB: SRGXF) announced on June 15, 2026, the results of a pre-feasibility study (PFS) for its Berg copper-molybdenum-silver project located in central British Columbia. According to the study, the project's after-tax net present value (at an 8% discount rate) reached C$4.6 billion, doubling from the C$2.1 billion in the 2023 preliminary economic assessment (PEA); the after-tax internal rate of return is 24%, up 4 percentage points from the PEA; initial capital cost is estimated at C$4.7 billion, approximately twice the PEA estimate; and the payback period is 4 years.

The project is located approximately 590 kilometers north of Vancouver, near the BC Hydro grid and transmission lines, with access to low-carbon hydroelectric power. The PFS adopts an open-pit mining plan with a mine life of 28 years, two years shorter than the PEA. Total production over the mine life is expected to be: 4.9 billion pounds (approximately 2.22 million tonnes) of copper, up 32% from the PEA; 602 million pounds (approximately 273,000 tonnes) of molybdenum, up 50% from the PEA; and 89 million ounces (approximately 2,768 tonnes) of silver, up 8% from the PEA. The study assumes base metal price benchmarks of: copper at $4.75/lb, molybdenum at $20/lb, silver at $45/oz, gold at $3,500/oz, and an exchange rate of $0.73/C$.

First-time disclosed proven and probable mineral reserves total 1.2 billion tonnes, with grades of 0.22% copper, 0.026% molybdenum, 4.1 g/t silver, and 0.02 g/t gold, containing 5.8 billion pounds of copper, 687 million pounds of molybdenum, 160 million ounces of silver, and 800,000 ounces of gold. This reserve data is based on 66,229 meters of drilling data, expanded historical core gold and silver assay coverage, updated geological and geostatistical modeling, and revised metallurgical recovery assumptions. The C1 co-product cash cost over the mine life is $1.95/lb of payable copper equivalent, with a by-product cash cost of negative $0.17/lb of payable copper, and a strip ratio of 2.0:1. Sustaining capital is C$1.7 billion, and based on an EPCM execution approach and a three-year construction period, total construction investment (including contingency) is approximately C$4.7 billion.

Surge Copper CEO Leif Nilsson stated that the completion of the Berg pre-feasibility study is a significant milestone for Surge and substantially advances one of Canada's most important undeveloped copper projects. Berg stands out not only for its scale but also for the quality of its development plan—including long-life copper production as the primary metal, industry-leading molybdenum and silver output, strong infrastructure advantages, and access to low-carbon hydroelectric power. Based on spot prices as of June 2026 (copper at $6.45/lb, molybdenum at $30/lb, silver at $65/oz, gold at $4,250/oz), the after-tax net present value could rise to C$9.4 billion, with an internal rate of return of 36% and a payback period shortened to 1.8 years, fully demonstrating the project's leverage effect on higher metal prices.

Meanwhile, the company also plans to conduct an Indigenous-led assessment overseen by the Wet'suwet'en Office (an engagement and coordination office authorized by Wet'suwet'en families and hereditary chiefs). The office stated it will continue to collaborate with Surge Copper to implement a robust Wet'suwet'en assessment process for the proposed Berg copper project. British Columbia Premier David Eby said in a statement that he is encouraged by projects like Surge's Berg copper mine, which will help British Columbia responsibly develop the critical minerals the world needs. The Berg project is located in central British Columbia, near existing transmission lines and transportation infrastructure, with access to low-carbon hydropower. The project's advancement comes as Canada and Western nations seek to secure supplies of critical minerals needed for electrification and the energy transition.

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