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2026-11-06
◂ Monitor PMT ASX (CDIs); primary listing TSX (PMET)

PMET Resources Inc.

DFS Unfunded Developer · Lithium · CA Rating locked: sign in to view v8.1 · pmt-20261031t211109-full
Last 2026-11-06
A$0.33
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$613.6M
EV
A$434.1M
Cash
C$176.2M
Debt
C$0
1 newer ASX announcement not yet reflected in this valuation

Portfolio detail

Assets

1 assets

Core asset

Shaakichiuwaanaan Project (CV5 and CV13 pegmatites)

CA

DFS Unfunded Developer100% ownedLithiumOthers

Feasibility-stage lithium developer: CV5 lithium-only FS (Oct 2025), ESIA submitted March 2026, updated FS with tantalum and a CV5+CV13 PEA due Q4 2026, FID targeted end 2027, no construction funding committed.

Developer · DFS unfunded developer
Study
Feasibility Study (CV5 lithium-only)
Post-tax NPV (study prices, attributable)
C$1.6bd
NPV restated at our deck (attributable)
Locked
IRR
18.1%
Initial capex (100%)
C$1.5b
Capital intensity
C$39,249/(t/yr)d
LoM AISC
A$15,961/td
Mine life
19.0 yrs

Project location

Approximate location

Loading location…

© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Published study economicsIssuer or study metrics
NPVC$1.6B8% discount
IRR18.1%Published return
Initial capexC$1.5BPublished capital estimate
Operating cost729.1CAD/t SC5.5

After-tax, real 2025 C$, 100%; US$1,221/t SC5.5 at C$1.34/US$; capex before C$101.7M pre-production credit and C$366.6M development tax credits.

Resources & reserves7
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceIndicated108M t1.40% Li2O, 0.11% Cs2O, 166 ppm Ta2O5, 66 ppm GaLithium · Others2025-06-20
Mineral ResourceInferred33.4M t1.33% Li2O, 0.21% Cs2O, 155 ppm Ta2O5, 65 ppm GaLithium · Others2025-06-20
Mineral ResourceIndicated (Rigel and Vega caesium zones, within CV13)693K t4.40% Cs2O, 2.12% Li2O, 283 ppm Ta2O5Others2025-06-20
Mineral ResourceInferred (Vega caesium zone, within CV13)1.7M t2.40% Cs2O, 1.81% Li2O, 245 ppm Ta2O5Others2025-06-20
Ore ReserveProbable (open pit)49.2M t1.12% Li2OLithium2025-09-11
Ore ReserveProbable (underground)35.1M t1.45% Li2OLithium2025-09-11
Ore ReserveProbable (total)84.3M t1.26% Li2OLithium2025-09-11
Tenements1
shaak-eersGranted23,710 ha · No expiry supplied
Milestones5
  1. CV5 lithium-only Feasibility Study and maiden reserve

    Achieved · High materiality

  2. ESIA submitted (provincial and federal)

    Achieved · High materiality

  3. Updated CV5 FS with tantalum and CV5+CV13 PEA

    Pending · High materiality

  4. Final investment decision

    At Risk · High materiality

  5. First production (company pathway)

    At Risk · High materiality

Permits & approvals4
PermitJurisdictionStatusExpiryCritical path
Quebec ESIA authorisation (JBNQA COMEV/COMEX process)Quebec, CanadaPending—Yes
Federal impact assessment (Impact Assessment Agency of Canada)CanadaPending—Yes
Hydro-Quebec power allocation (54 km 120 kV line)Quebec, CanadaRequired—Yes
CV5 underground bulk-sample exemption (COMEV)Quebec, CanadaPending—No
Economic studies3
StudyStageStatusDateSummary
CV5 Lithium-Only Feasibility Study (G Mining Services lead)DFSCurrent2025-10-20After-tax NPV8 C$1,594M, IRR 18.06%, development capex C$1,978M (C$1,510M net), AISC C$800/t SC5.5, ~800ktpa nominal, 19-20 year life at US$1,221/t SC5.5; technical report amended October 2026 without economic change.
Preliminary Economic Assessment (CV5)Scoping StudySuperseded2024-08-21Two-stage 800ktpa concept; net capex C$1,157M; superseded by the 2025 FS.
On-site refining concept study (Primero ALi)Scoping StudyCurrent2026-06-14Concept-level selection of an atmospheric leach route to battery-grade carbonate; not a PEA and not in the base project.

d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)

Stock database

Other assets

Plants, holdings and assets valued inside a project
Listed shares in Loyal Metals Ltd · Equity investment · Held
Investee
Loyal Metals Ltd (ASX-listed) shares received for the Northwest Territories interest
Holding
—
Shares held
8.00m
Market value
—
% of holder's market cap
—
Cost basis
C$833.0k