MetalQuest Mining Inc.
Boosted by High-Purity Iron's Critical Mineral Status in Canada
Published: 1/20/2025
Author: FRC Analysts

Sector: Basic Materials | Industry: Other Industrial Metals & Mining
Ticker Symbols:
MQM.V - TSX 🔹
E7Q.F - FWB 🔹
- MQM’s Lac Otelnuk project hosts one of the largest undeveloped iron ore projects in North America. The project has a large open-pit historic resource, which can potentially support a mine-life of 100+ years.
- Iron ore is primarily used for manufacturing steel. Prices are down 21% YoY to US$100/t vs the five-year average of US$115/t. The recent addition of high-purity iron to Canada's Critical Minerals list is a significant development for the Lac Otelnuk project. This designation enhances the project's eligibility for federal and provincial government funding programs and tax incentives, potentially accelerating its development and contributing to Canada's critical minerals supply chain.
- A historic Feasibility Study (FS), conducted in 2015, returned an AT-NPV8% of US$5.24B, and an AT-IRR of 13%, based on a long-term iron ore price forecast of US$105/t (spot price: US$100/t),