Happy to know this. I kind of missed "revised project economics" part at last month:


Engebø Rutile and Garnet Project value increases by over 70% to around USD 450 million

In October 2022, Nordic Mining revised the project economics for the Engebø Rutile and Garnet Project based on the latest available data and assumptions. The revised analysis confirmed significant improvements in the key financials compared to the Updated Definitive Feasibility Study (“UDFS”) from 2021 with unlevered post-tax NPV@8% of USD 453 million (up from USD 260 million) and post-tax IRR of 24.4% (up from 19.8%).

High-margin cash flow and short pay-back support bankability (unlevered):

Remaining initial capital investment of around USD 207 million (down from USD 218 million)
Life of Mine EBITDA of USD 3.1 billion (up from USD 2.1 billion), corresponding to an EBITDA-margin of over 75% (up from 68%)
Life of Mine Operating Cash Flow of USD 2.5 billion (up from UDS 1.7 billion)
Free Cash Flow the first 10 years of full operations of over USD 60 million per annum (up from USD 51 million)
Pay-back period of around 4 years from start of production (down from 4.4 years)

https://tools.euroland.com/tools/PressReleases/GetPressRelease/?ID=4186335&lang=en-GB&companycode=services