08:24 AM EDT, 10/07/2025 (MT Newswires) -- P2 Gold ( PGLDF ) reported Tuesday the results of an updated preliminary economic assessment for the Gabbs copper-gold project in Nevada, delivering "strong economics and increased metal production."

The study outlined an after-tax net present value of US$2.25 billion at a 5% discount rate, with a 77.5% internal rate of return based on prices of $3,885/oz gold, $47.92/oz silver and $4.81/lb copper.

The company estimated pre-production capital costs at $382.7 million, with payback of less than one year.

The project is expected to produce 1.547 million ounces of gold, 2.481 million ounces of silver and 213,000 tonnes of copper over the 14.2-year mine life.

"With the PEA updated and funds from our recent capital raise, we will now focus on moving forward with drilling, permitting and project feasibility study," president and chief executive officer Joe Ovsenek said.

P2Gold's share price surged 37.5% Monday to a near 52-week high of $0.385 on the TSX Venture Exchange.