Business · Companies · 3 hrs ago
FireFly study backs Green Bay’s potential as a major copper operation
FireFly’s assessment says its Green Bay project could become a large-scale copper operation lasting several decades.
Green Bay’s preliminary economic assessment estimates a net present value of A$3 billion and a 39% internal rate of return for a 4.6-million-tonne-per-year case.
The project has 60.2 million tonnes of measured and indicated resources at 2.4% copper equivalent, plus 23.5 million tonnes of inferred resources at 2.5%.
These figures describe estimated mineral resources, not copper already produced.
A new VMS discovery 35 kilometres from Ming Mine could offer room for further growth in resources and forecast production.
FireFly raised about A$180 million through an equity sale and about A$5 million through a share purchase plan.
The company reported A$349.7 million in cash and liquid investments as of September 30, 2026; the supplied information does not say what happens next.
An independent Preliminary Economic Assessment says FireFly’s Green Bay project has potential to become a large-scale, multi-decade copper operation.
The assessment’s 4.6-million-tonne-per-year case has a net present value of A$3 billion and an internal rate of return of 39%.
FireFly reported an updated Green Bay resource of 60.2 million tonnes at 2.4% copper equivalent in Measured and Indicated resources, plus 23.5 million tonnes at 2.5% in Inferred resources.
The company said it had about A$349.7 million in cash and liquid investments as of September 30, 2026.
A recent volcanogenic massive sulphide discovery 35 kilometres from Ming Mine may offer further growth potential.
- Who
- FireFly is the company behind the Green Bay project.
- What
- An independent Preliminary Economic Assessment backed the project’s potential as a large-scale, multi-decade copper operation.
- When
- The article was published on October 29, 2026. The assessment date is not stated.
- Where
- Green Bay; a recent discovery was reported 35 kilometres from Ming Mine. The sources do not state a broader location.
- Why
- The assessment evaluated Green Bay’s economic potential and forecast production.
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- Assessment case
- 4.6 million tonnes per year
- Net present value
- A$3 billion at a 7% discount rate
- Internal rate of return
- 39%
- Measured and Indicated resource
- 60.2 million tonnes at 2.4% copper equivalent
- Inferred resource
- 23.5 million tonnes at 2.5% copper equivalent
- Cash and liquid investments
- About A$349.7 million as of September 30, 2026