Moon River Moly's Updated Study Increases Value of Davidson Project in British Columbia

09:35 AM EDT, 10/22/2026 (MT Newswires) -- Moon River Moly's (MOO.V) updated preliminary economic assessment (PEA) increased the value of its Davidson molybdenum-copper-tungsten project in British Columbia, the company said Thursday. The study outlined an after-tax net present value (NPV) of CA$1.23 billion and a 33% internal rate of return (IRR) based on an 8% discount rate, compared to an after-tax NPV of CA$1.03 billion and a 32% IRR generated by a December 2025 PEA. The payback period for construction costs estimated at CA$750.1 million was also shortened to 1.5 years from to 2.3 years. Annual tungsten production was set at 1.5 million tonnes of tungsten trioxide, a 350% increase from the previous PEA. The project is also expected to record annual average production of 13.3-million pounds of molybdenum and 1.5-million pounds of copper over a 20-year mine life. Moon River aims to advance a pre-feasibility study on Davidson in the first half of 2027. The company's shares closed unchanged at CA$0.60 Wednesday on the TSX Venture Exchange.