A Preliminary Economic Assessment (PEA) supported by an independent technical report established Green Bay’s potential to become a robust, large-scale, multi-decade operation, with an NPV7% of A$3B and IRR of 39% for the 4.6Mtpa case
FireFly published an updated Mineral Resource Estimate (MRE) for Green Bay of 60.2Mt @ 2.4% copper equivalent (CuEq) in Measured and Indicated (M&I) and a further 23.5Mt @ 2.5% CuEq in Inferred Mineral Resources
FireFly successfully completed a ~A$180 million (before costs) equity raising and undertook a non-underwritten Share Purchase Plan which raised a further ~A$5 million
FireFly remains well-funded, with ~A$349.7 million (unaudited) in cash and liquid investments as at 30 September 2026
FireFly Managing Director Steve Parsons said: “The results of the preliminary economic assessment show why Green Bay is such an exceptional asset. “The study proves that Green Bay has significant scale, a long mine life and substantial forecast production rates. This enviable combination underpins outstanding forecast financial returns, including robust cashflows, very strong returns on capital and rapid paybacks.“And there is still huge potential for further growth, as demonstrated by our latest Mount Joy VMS copper discovery. This find is significant not just because of the potential to further leverage existing infrastructure, but also because it validates our exploration strategy and its effectiveness in turning targets into discoveries. We have many more such targets to test as part of our ongoing strategy to grow the Mineral Resource. With nine drill rigs turning, we expect to see further growth in 2026/2027.“Our focus is now on completing the next Mineral Resource update and the feasibility study in the first calendar quarter of 2027, ahead of a final investment decision on Green Bay in mid-2027.”
