05:27 PM EDT, 10/20/2025 (MT Newswires) -- PMET Resources ( PMETF ) , after trade Monday, released "positive" results of a lithium-only feasibility study for its wholly owned Shaakichiuwaanaan Property, located in the Eeyou Istchee James Bay region of Quebec.

The company said the study supported the construction of a $1.98-billion mining project producing up to 800,000 tonnes of lithium annually over a 19-year mine life with an internal rate of return of 18.1%.

The company said that the study confirms the development plan first outlined in the PMET's 2024 preliminary economic assessment. It proposes a hybrid mining model at the CV5 Spodumene Pegmatite deposit, combining both open-pit and underground methods. This approach provides a solid foundation for advancing the environmental and social impact assessment, which is required for final mine authorization.

Although no final investment decision (FID) has been reached for the project, the study "reaffirms the potential for the CV5 Pegmatite to position the company as a globally significant spodumene concentrate producer - potentially the 4th largest globally," PMET said, adding that a FID remains targeted for the second half of 2027.

The company's shares closed up $0.28 to $4.15 on the Toronto Stock Exchange.